Macquarie Group Ltd. lifted its stake in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 975,758 shares of the company’s stock after buying an additional 21,616 shares during the quarter. Macquarie Group Ltd.’s holdings in Altria Group were worth $56,262,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new position in shares of Altria Group during the second quarter worth about $27,000. Navalign LLC acquired a new position in shares of Altria Group during the fourth quarter worth about $28,000. EMC Capital Management acquired a new position in shares of Altria Group during the third quarter worth about $33,000. Creative Capital Management Investments LLC acquired a new position in shares of Altria Group during the fourth quarter worth about $29,000. Finally, Hughes Financial Services LLC grew its position in shares of Altria Group by 62.9% during the fourth quarter. Hughes Financial Services LLC now owns 510 shares of the company’s stock worth $29,000 after buying an additional 197 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.
Altria Group Trading Up 0.6%
MO stock opened at $71.83 on Friday. The company has a market capitalization of $119.95 billion, a P/E ratio of 15.03, a PEG ratio of 2.67 and a beta of 0.46. Altria Group, Inc. has a twelve month low of $54.70 and a twelve month high of $74.56. The business has a 50 day simple moving average of $69.40 and a 200-day simple moving average of $64.92.
Altria Group Announces Dividend
The business 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 dividend of $1.06 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.24 annualized dividend and a dividend yield of 5.9%. Altria Group’s dividend payout ratio (DPR) is currently 88.70%.
Insider Buying and Selling at Altria Group
In related news, Director Ellen R. Strahlman sold 2,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total transaction of $145,120.00. Following the completion of the sale, the director directly owned 25,102 shares of the company’s stock, valued at $1,821,401.12. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ennis Debra J. Kelly sold 5,790 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total value of $418,327.50. Following the sale, the director directly owned 73,809 shares of the company’s stock, valued at approximately $5,332,700.25. This represents a 7.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is owned by company insiders.
Analyst Ratings Changes
MO has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on Altria Group from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Jefferies Financial Group upped their price target on Altria Group from $50.00 to $60.00 and gave the company an “underperform” rating in a report on Wednesday, May 27th. Citigroup upped their price target on Altria Group from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Wall Street Zen raised Altria Group from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Bank of America upped their price target on Altria Group from $72.00 to $73.00 and gave the company a “buy” rating in a report on Friday, April 10th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and a consensus target price of $70.44.
View Our Latest Analysis on MO
Altria Group Profile
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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