Oarsman Capital Inc. reduced its holdings in shares of Altria Group Inc (NYSE:MO) by 20.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,836 shares of the company’s stock after selling 987 shares during the quarter. Oarsman Capital Inc.’s holdings in Altria Group were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in MO. First Manhattan Co. increased its position in Altria Group by 22.8% during the fourth quarter. First Manhattan Co. now owns 1,125,517 shares of the company’s stock valued at $80,373,000 after acquiring an additional 208,935 shares during the last quarter. Naples Global Advisors LLC increased its position in Altria Group by 6.1% during the fourth quarter. Naples Global Advisors LLC now owns 23,255 shares of the company’s stock valued at $1,661,000 after acquiring an additional 1,342 shares during the last quarter. Stifel Financial Corp increased its position in Altria Group by 1.9% during the second quarter. Stifel Financial Corp now owns 845,526 shares of the company’s stock valued at $62,906,000 after acquiring an additional 15,715 shares during the last quarter. Alley Co LLC increased its position in Altria Group by 0.9% in the fourth quarter. Alley Co LLC now owns 102,997 shares of the company’s stock worth $7,355,000 after buying an additional 904 shares in the last quarter. Finally, BB&T Securities LLC increased its position in Altria Group by 3.0% in the third quarter. BB&T Securities LLC now owns 499,388 shares of the company’s stock worth $31,671,000 after buying an additional 14,458 shares in the last quarter. 62.54% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $62.34, for a total transaction of $199,488.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Craig A. Johnson sold 14,953 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $66.59, for a total value of $995,720.27. Following the transaction, the chief executive officer now directly owns 64,809 shares of the company’s stock, valued at $4,315,631.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,117 shares of company stock valued at $1,821,707. Corporate insiders own 0.11% of the company’s stock.
A number of brokerages have commented on MO. Jefferies Group restated a “buy” rating and issued a $84.00 price target on shares of Altria Group in a research report on Thursday, March 15th. Vetr upgraded Altria Group from a “sell” rating to a “hold” rating and set a $69.29 price target for the company in a research report on Thursday, December 28th. Zacks Investment Research cut Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Argus restated a “buy” rating and issued a $79.00 price target (up previously from $66.13) on shares of Altria Group in a research report on Wednesday, March 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $62.00 price target (down previously from $65.00) on shares of Altria Group in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $75.14.
Altria Group stock opened at $60.00 on Thursday. The firm has a market capitalization of $116,915.63, a PE ratio of 18.15, a PEG ratio of 1.78 and a beta of 0.63. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.64 and a quick ratio of 0.31. Altria Group Inc has a one year low of $59.83 and a one year high of $77.79.
Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.80 billion. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. research analysts forecast that Altria Group Inc will post 4.01 EPS for the current year.
Altria Group declared that its Board of Directors has approved a share repurchase plan on Thursday, February 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Thursday, March 15th will be paid a $0.70 dividend. This is a positive change from Altria Group’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.67%. Altria Group’s dividend payout ratio is 52.63%.
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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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