Fort Pitt Capital Group LLC reduced its stake in shares of Altria Group Inc (NYSE:MO) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,660 shares of the company’s stock after selling 1,439 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in Altria Group were worth $931,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Intact Investment Management Inc. boosted its holdings in shares of Altria Group by 3.4% in the 4th quarter. Intact Investment Management Inc. now owns 258,200 shares of the company’s stock worth $12,882,000 after purchasing an additional 8,600 shares in the last quarter. Capital World Investors boosted its holdings in Altria Group by 12.0% during the 4th quarter. Capital World Investors now owns 74,628,168 shares of the company’s stock valued at $3,724,692,000 after acquiring an additional 7,988,057 shares during the period. IHT Wealth Management LLC raised its position in Altria Group by 2.0% during the 4th quarter. IHT Wealth Management LLC now owns 62,492 shares of the company’s stock valued at $3,119,000 after purchasing an additional 1,202 shares during the last quarter. Belpointe Asset Management LLC raised its position in Altria Group by 33.4% during the 4th quarter. Belpointe Asset Management LLC now owns 35,737 shares of the company’s stock valued at $1,783,000 after purchasing an additional 8,954 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Altria Group by 8.8% in the 4th quarter. Alliancebernstein L.P. now owns 6,426,693 shares of the company’s stock worth $320,756,000 after acquiring an additional 520,730 shares in the last quarter. Institutional investors own 63.26% of the company’s stock.
Several research analysts have recently issued reports on the company. Deutsche Bank decreased their target price on Altria Group from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Bank of America decreased their target price on Altria Group from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Royal Bank of Canada reissued a “buy” rating and set a $68.00 price target on shares of Altria Group in a report on Monday. ValuEngine raised Altria Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 17th. Finally, Citigroup raised Altria Group from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday, December 2nd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $55.39.
Shares of MO stock traded up $1.31 during trading hours on Thursday, hitting $35.68. The stock had a trading volume of 1,100,231 shares, compared to its average volume of 17,513,892. Altria Group Inc has a one year low of $30.95 and a one year high of $57.88. The company has a debt-to-equity ratio of 4.28, a current ratio of 0.59 and a quick ratio of 0.31. The stock’s 50-day moving average price is $42.04 and its two-hundred day moving average price is $45.73. The stock has a market capitalization of $60.17 billion, a price-to-earnings ratio of -49.56, a PEG ratio of 1.17 and a beta of 0.61.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.02 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.02. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.89 billion. Altria Group had a positive return on equity of 67.74% and a negative net margin of 5.15%. The firm’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share. As a group, equities research analysts predict that Altria Group Inc will post 4.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, March 24th. This represents a $3.36 annualized dividend and a dividend yield of 9.42%. Altria Group’s dividend payout ratio (DPR) is presently 79.62%.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
Further Reading: Capital Gains Distribution
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