Strategic Investment Advisors MI Buys 7,698 Shares of Altria Group, Inc. $MO

Strategic Investment Advisors MI increased its stake in shares of Altria Group, Inc. (NYSE:MO) by 14.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,747 shares of the company’s stock after acquiring an additional 7,698 shares during the period. Strategic Investment Advisors MI’s holdings in Altria Group were worth $4,141,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund grew its stake in shares of Altria Group by 7.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 668,243 shares of the company’s stock worth $38,531,000 after acquiring an additional 44,267 shares in the last quarter. Rayburn West Financial Services LLC bought a new stake in shares of Altria Group in the fourth quarter worth $2,438,000. North Dakota State Investment Board acquired a new position in Altria Group during the fourth quarter worth $3,336,000. Procyon Advisors LLC boosted its holdings in Altria Group by 59.3% during the first quarter. Procyon Advisors LLC now owns 38,926 shares of the company’s stock worth $2,569,000 after purchasing an additional 14,490 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Altria Group by 206.7% in the fourth quarter. International Assets Investment Management LLC now owns 75,573 shares of the company’s stock valued at $4,358,000 after purchasing an additional 50,931 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Insider Transactions at Altria Group

In related news, Director Ennis Debra J. Kelly sold 5,790 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total value of $418,327.50. Following the completion of the sale, the director directly owned 73,809 shares in the company, valued at approximately $5,332,700.25. This trade represents a 7.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ellen R. Strahlman sold 2,000 shares of Altria Group stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total value of $145,120.00. Following the transaction, the director owned 25,102 shares of the company’s stock, valued at $1,821,401.12. The trade was a 7.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is currently owned by corporate insiders.

Altria Group Trading Up 0.3%

NYSE:MO opened at $75.03 on Thursday. Altria Group, Inc. has a 1-year low of $54.70 and a 1-year high of $77.06. The firm has a fifty day simple moving average of $71.95 and a 200 day simple moving average of $68.23. The stock has a market capitalization of $125.30 billion, a PE ratio of 15.70, a P/E/G ratio of 2.70 and a beta of 0.45.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. Altria Group had a net margin of 34.34% and a negative return on equity of 298.69%. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Altria Group, Inc. will post 5.7 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 15th were issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Monday, June 15th. Altria Group’s dividend payout ratio is presently 88.70%.

Wall Street Analyst Weigh In

MO has been the topic of several recent research reports. Jefferies Financial Group lifted their price target on shares of Altria Group from $50.00 to $60.00 and gave the company an “underperform” rating in a research note on Wednesday, May 27th. BTIG Research initiated coverage on Altria Group in a report on Tuesday, July 21st. They issued a “neutral” rating for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research report on Tuesday, July 14th. Bank of America lifted their target price on Altria Group from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Finally, Stifel Nicolaus upped their target price on Altria Group from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $70.78.

Altria Group Company 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.