Elkhorn Investments LLC bought a new stake in Altria Group (NYSE:MO) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 18,252 shares of the company’s stock, valued at approximately $1,304,000. Altria Group comprises approximately 1.1% of Elkhorn Investments LLC’s investment portfolio, making the stock its 22nd largest position.
A number of other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers increased its position in Altria Group by 1.4% in the first quarter. Rhumbline Advisers now owns 2,853,312 shares of the company’s stock worth $203,784,000 after buying an additional 39,264 shares during the period. WealthTrust Fairport LLC increased its position in Altria Group by 0.4% in the first quarter. WealthTrust Fairport LLC now owns 43,174 shares of the company’s stock worth $3,083,000 after buying an additional 161 shares during the period. Albert D Mason Inc. increased its position in Altria Group by 1.0% in the first quarter. Albert D Mason Inc. now owns 11,120 shares of the company’s stock worth $794,000 after buying an additional 115 shares during the period. Northwest Wealth Management LLC increased its position in Altria Group by 9.7% in the first quarter. Northwest Wealth Management LLC now owns 7,922 shares of the company’s stock worth $566,000 after buying an additional 703 shares during the period. Finally, Jackson Grant Investment Advisers Inc. increased its position in Altria Group by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 10,361 shares of the company’s stock worth $740,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 62.01% of the company’s stock.
Shares of Altria Group (NYSE MO) opened at 73.37 on Tuesday. The firm has a market cap of $142.26 billion, a price-to-earnings ratio of 9.93 and a beta of 0.64. Altria Group has a 1-year low of $60.82 and a 1-year high of $77.79. The stock has a 50 day moving average price of $74.43 and a 200-day moving average price of $72.19.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by $0.01. Altria Group had a return on equity of 76.43% and a net margin of 55.99%. The company had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the firm earned $0.72 EPS. Altria Group’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities research analysts expect that Altria Group will post $3.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 10th. Shareholders of record on Thursday, June 15th were given a $0.61 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.33%. Altria Group’s dividend payout ratio is currently 33.02%.
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A number of research firms have recently commented on MO. Jefferies Group LLC restated a “hold” rating and issued a $70.00 price objective (down from $71.00) on shares of Altria Group in a report on Monday. BidaskClub downgraded Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Zacks Investment Research downgraded Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Cowen and Company restated a “hold” rating and issued a $74.00 price objective on shares of Altria Group in a report on Tuesday, July 11th. Finally, Vetr downgraded Altria Group from a “buy” rating to a “hold” rating and set a $80.38 price objective on the stock. in a report on Monday, June 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Altria Group presently has a consensus rating of “Hold” and a consensus price target of $72.34.
In other news, Director George Munoz sold 5,000 shares of Altria Group stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total value of $361,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dinyar S. Devitre sold 4,285 shares of Altria Group stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $70.72, for a total value of $303,035.20. Following the completion of the transaction, the director now owns 112,457 shares in the company, valued at $7,952,959.04. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.
Altria Group Company Profile
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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