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NorthCrest Asset Manangement LLC raised its holdings in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 88.5% during the first quarter, HoldingsChannel reports. The firm owned 8,536 shares of the company’s stock after purchasing an additional 4,007 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Altria Group were worth $512,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in MO. Raymond James Financial Inc. purchased a new position in Altria Group during the 4th quarter valued at about $137,536,000. Charles Schwab Investment Management Inc. increased its position in Altria Group by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,805,286 shares of the company’s stock valued at $3,127,218,000 after purchasing an additional 2,296,972 shares during the period. GAMMA Investing LLC increased its position in Altria Group by 6,969.4% during the 1st quarter. GAMMA Investing LLC now owns 2,162,401 shares of the company’s stock valued at $129,787,000 after purchasing an additional 2,131,813 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in Altria Group during the 4th quarter valued at about $91,000. Finally, Northern Trust Corp boosted its holdings in shares of Altria Group by 9.6% in the 4th quarter. Northern Trust Corp now owns 16,432,535 shares of the company’s stock valued at $859,257,000 after buying an additional 1,444,021 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.
Altria Group Trading Down 0.3%
Shares of NYSE MO opened at $59.74 on Monday. Altria Group, Inc. has a 12 month low of $43.92 and a 12 month high of $61.26. The company has a 50 day simple moving average of $58.75 and a two-hundred day simple moving average of $56.09. The stock has a market cap of $100.64 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 2.89 and a beta of 0.60.
Altria Group (NYSE:MO – Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the firm earned $1.15 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. Analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.
Altria Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 6.83%. The ex-dividend date of this dividend is Monday, June 16th. Altria Group’s dividend payout ratio is currently 68.34%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Needham & Company LLC raised shares of Altria Group to a “hold” rating in a research report on Thursday, May 22nd. Wall Street Zen cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. UBS Group lifted their target price on shares of Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a research note on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a research note on Tuesday, April 1st. Finally, Citigroup lifted their target price on shares of Altria Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.00.
Read Our Latest Report on Altria Group
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.
See Also
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