Shell Asset Management Co. Acquires 28,823 Shares of Altria Group Inc (NYSE:MO)

Shell Asset Management Co. boosted its holdings in Altria Group Inc (NYSE:MO) by 14.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 225,574 shares of the company’s stock after acquiring an additional 28,823 shares during the period. Shell Asset Management Co.’s holdings in Altria Group were worth $8,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Amalgamated Bank increased its position in Altria Group by 6.3% during the 4th quarter. Amalgamated Bank now owns 303,198 shares of the company’s stock worth $15,133,000 after buying an additional 18,026 shares during the period. Cannell Peter B & Co. Inc. boosted its stake in shares of Altria Group by 0.5% during the fourth quarter. Cannell Peter B & Co. Inc. now owns 43,612 shares of the company’s stock valued at $2,177,000 after purchasing an additional 223 shares in the last quarter. Capital Square LLC acquired a new stake in shares of Altria Group during the fourth quarter valued at about $2,952,000. Brighton Jones LLC boosted its stake in shares of Altria Group by 35.8% during the fourth quarter. Brighton Jones LLC now owns 18,964 shares of the company’s stock valued at $946,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Altria Group during the fourth quarter valued at about $4,429,000. Institutional investors and hedge funds own 63.50% of the company’s stock.

A number of analysts have recently commented on the company. Deutsche Bank cut their price target on Altria Group from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Piper Sandler raised Altria Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $52.00 to $57.00 in a research note on Thursday, January 30th. Bank of America cut their price target on Altria Group from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Cfra raised their price objective on Altria Group from $42.00 to $44.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Finally, Stifel Nicolaus lowered their price objective on Altria Group from $56.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $50.79.

MO stock traded up $0.19 during mid-day trading on Friday, reaching $37.73. The company’s stock had a trading volume of 6,861,912 shares, compared to its average volume of 10,536,376. The company has a market cap of $69.76 billion, a price-to-earnings ratio of -77.00, a price-to-earnings-growth ratio of 1.76 and a beta of 0.45. The business’s 50 day moving average price is $38.45 and its 200 day moving average price is $44.43. The company has a current ratio of 0.71, a quick ratio of 0.53 and a debt-to-equity ratio of 4.06. Altria Group Inc has a 12 month low of $30.95 and a 12 month high of $53.11.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, April 30th. The company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.11. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.51 billion. Altria Group had a positive return on equity of 84.55% and a negative net margin of 3.33%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. As a group, equities analysts expect that Altria Group Inc will post 4.26 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 15th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.36 dividend on an annualized basis and a yield of 8.91%. Altria Group’s payout ratio is currently 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.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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