Envestnet Asset Management Inc. increased its position in Altria Group Inc (NYSE:MO) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 548,793 shares of the company’s stock after buying an additional 57,060 shares during the period. Envestnet Asset Management Inc.’s holdings in Altria Group were worth $37,103,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Gradient Investments LLC raised its stake in Altria Group by 8.0% in the third quarter. Gradient Investments LLC now owns 73,081 shares of the company’s stock valued at $4,621,000 after buying an additional 5,386 shares in the last quarter. Canal Capital Management LLC raised its stake in Altria Group by 4.8% in the third quarter. Canal Capital Management LLC now owns 10,141 shares of the company’s stock valued at $641,000 after buying an additional 467 shares in the last quarter. Dorsey Wright & Associates raised its stake in Altria Group by 1.4% in the third quarter. Dorsey Wright & Associates now owns 20,152 shares of the company’s stock valued at $1,274,000 after buying an additional 279 shares in the last quarter. City Holding Co. raised its stake in Altria Group by 3.1% in the third quarter. City Holding Co. now owns 39,540 shares of the company’s stock valued at $2,500,000 after buying an additional 1,200 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in Altria Group by 4.4% in the third quarter. Advisory Services Network LLC now owns 44,976 shares of the company’s stock valued at $2,844,000 after buying an additional 1,883 shares in the last quarter. 60.77% of the stock is owned by institutional investors.
Shares of Altria Group Inc (NYSE:MO) opened at 73.17 on Friday. The stock has a market cap of $141.95 billion, a P/E ratio of 10.05 and a beta of 0.61. Altria Group Inc has a 52-week low of $59.48 and a 52-week high of $76.55. The firm’s 50-day moving average price is $74.21 and its 200-day moving average price is $67.60.
Altria Group (NYSE:MO) last issued its earnings results on Wednesday, February 1st. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The company earned $5.45 billion during the quarter, compared to the consensus estimate of $4.80 billion. Altria Group had a net margin of 55.31% and a return on equity of 109.95%. Altria Group’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS. Equities analysts predict that Altria Group Inc will post $3.30 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 10th. Investors of record on Wednesday, March 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 3.33%. The ex-dividend date is Monday, March 13th. Altria Group’s dividend payout ratio is currently 33.47%.
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Several equities research analysts recently issued reports on MO shares. Bank of America Corp raised Altria Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $75.00 in a research note on Wednesday, January 4th. Morgan Stanley reissued an “equal weight” rating and set a $65.00 price objective on shares of Altria Group in a research note on Tuesday, November 29th. Jefferies Group LLC set a $71.00 price objective on Altria Group and gave the company a “hold” rating in a research note on Friday, February 17th. Argus lifted their price objective on Altria Group from $73.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Finally, Vetr lowered Altria Group from a “hold” rating to a “sell” rating and set a $67.75 price objective for the company. in a research note on Monday, January 23rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $70.70.
About Altria Group
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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