Norden Group LLC Purchases 127,304 Shares of Altria Group, Inc. $MO

Norden Group LLC grew its position in shares of Altria Group, Inc. (NYSE:MO) by 437.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,434 shares of the company’s stock after buying an additional 127,304 shares during the quarter. Altria Group accounts for approximately 0.9% of Norden Group LLC’s investment portfolio, making the stock its 18th biggest holding. Norden Group LLC’s holdings in Altria Group were worth $9,020,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. State Street Corp lifted its holdings in Altria Group by 1.2% during the second quarter. State Street Corp now owns 72,367,263 shares of the company’s stock worth $4,315,438,000 after acquiring an additional 886,583 shares during the period. Ameriprise Financial Inc. boosted its position in Altria Group by 19.4% in the third quarter. Ameriprise Financial Inc. now owns 19,567,823 shares of the company’s stock worth $1,285,575,000 after purchasing an additional 3,172,753 shares during the last quarter. Northern Trust Corp grew its stake in Altria Group by 0.4% in the 3rd quarter. Northern Trust Corp now owns 16,705,159 shares of the company’s stock valued at $1,103,543,000 after purchasing an additional 59,189 shares during the period. Bank of New York Mellon Corp grew its stake in Altria Group by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,747,828 shares of the company’s stock valued at $842,122,000 after purchasing an additional 132,846 shares during the period. Finally, Capital Research Global Investors increased its position in shares of Altria Group by 0.4% during the 3rd quarter. Capital Research Global Investors now owns 12,131,644 shares of the company’s stock valued at $801,412,000 after purchasing an additional 47,757 shares during the last quarter. 57.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Altria Group

In other news, SVP Charles N. Whitaker sold 27,908 shares of Altria Group stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the transaction, the senior vice president owned 180,869 shares in the company, valued at $12,221,318.33. This trade represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MO shares. Jefferies Financial Group lifted their target price on Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 4th. Stifel Nicolaus reduced their price target on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, January 30th. UBS Group raised their price objective on shares of Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Barclays lifted their price objective on shares of Altria Group from $57.00 to $63.00 and gave the stock an “underweight” rating in a research report on Monday, February 23rd. Finally, Citigroup increased their target price on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Altria Group has a consensus rating of “Hold” and a consensus target price of $65.11.

Altria Group Price Performance

Shares of MO opened at $64.60 on Friday. Altria Group, Inc. has a 1 year low of $52.82 and a 1 year high of $70.51. The stock’s fifty day moving average price is $65.51 and its two-hundred day moving average price is $62.54. The firm has a market cap of $108.00 billion, a PE ratio of 15.72, a PEG ratio of 2.72 and a beta of 0.45.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter in the previous year, the company posted $1.30 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Sell-side analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

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 $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Wednesday, March 25th. Altria Group’s dividend payout ratio (DPR) is currently 103.16%.

Altria Group Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.