Royal Palms Capital LLC purchased a new stake in shares of Altria Group, Inc. (NYSE:MO – Free Report) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 15,370 shares of the company’s stock, valued at approximately $886,000. Altria Group accounts for 1.1% of Royal Palms Capital LLC’s holdings, making the stock its 29th biggest holding.
A number of other large investors have also made changes to their positions in MO. Brighton Jones LLC grew its stake in shares of Altria Group by 64.7% during the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after purchasing an additional 6,954 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Altria Group by 86.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 6,361 shares of the company’s stock valued at $373,000 after purchasing an additional 2,946 shares during the period. Schnieders Capital Management LLC. grew its stake in shares of Altria Group by 6.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 9,630 shares of the company’s stock valued at $565,000 after purchasing an additional 618 shares during the period. Gamco Investors INC. ET AL bought a new stake in shares of Altria Group during the 2nd quarter valued at about $346,000. Finally, AXA S.A. bought a new stake in shares of Altria Group during the 2nd quarter valued at about $5,752,000. 57.41% of the stock is currently owned by institutional investors.
Altria Group Stock Down 2.0%
MO stock opened at $72.41 on Wednesday. Altria Group, Inc. has a twelve month low of $54.70 and a twelve month high of $74.56. The stock has a market cap of $120.92 billion, a P/E ratio of 15.15, a PEG ratio of 2.76 and a beta of 0.48. The business’s 50-day moving average price is $67.93 and its 200-day moving average price is $63.78.
Altria Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be issued a $1.06 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.24 dividend on an annualized basis and a yield of 5.9%. Altria Group’s payout ratio is currently 88.70%.
Insider Buying and Selling
In related news, SVP Charles N. Whitaker sold 27,908 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total value of $1,885,743.56. Following the transaction, the senior vice president directly owned 180,869 shares of the company’s stock, valued at approximately $12,221,318.33. The trade was a 13.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on MO shares. Deutsche Bank Aktiengesellschaft boosted their price target on Altria Group from $60.00 to $66.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Citigroup boosted their price target on Altria Group from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. UBS Group lifted their price objective on Altria Group from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Morgan Stanley set a $71.00 price objective on Altria Group in a research report on Friday, May 1st. Finally, Bank of America lifted their price objective on Altria Group from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $69.33.
About Altria Group
Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.
Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.
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