JT Stratford LLC Acquires New Stake in Altria (MO)

JT Stratford LLC acquired a new stake in shares of Altria (NYSE:MO) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,496 shares of the company’s stock, valued at approximately $280,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oak Point Wealth Management acquired a new position in Altria in the fourth quarter worth about $120,000. Taylor Hoffman Wealth Management acquired a new position in Altria in the fourth quarter worth about $120,000. Smart Portfolios LLC acquired a new position in Altria in the first quarter worth about $129,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Altria in the fourth quarter worth about $134,000. Finally, Acropolis Investment Management LLC raised its position in Altria by 1,202.0% in the fourth quarter. Acropolis Investment Management LLC now owns 1,953 shares of the company’s stock worth $139,000 after purchasing an additional 1,803 shares in the last quarter. 63.23% of the stock is owned by institutional investors and hedge funds.

In other news, Director Mark Newman acquired 5,345 shares of the firm’s stock in a transaction on Monday, April 30th. The shares were purchased at an average cost of $56.19 per share, with a total value of $300,335.55. Following the completion of the purchase, the director now owns 6,022 shares of the company’s stock, valued at $338,376.18. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Shares of Altria opened at $56.31 on Thursday, MarketBeat reports. The company has a current ratio of 0.65, a quick ratio of 0.34 and a debt-to-equity ratio of 0.85. The stock has a market cap of $106.61 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.64 and a beta of 0.63. Altria has a 1-year low of $53.91 and a 1-year high of $77.79.

Altria (NYSE:MO) last issued its quarterly earnings data on Thursday, April 26th. The company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.02. The firm had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Altria had a net margin of 41.85% and a return on equity of 49.92%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. equities analysts anticipate that Altria will post 4 EPS for the current year.

Altria announced that its board has approved a stock buyback plan on Thursday, May 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 10th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $2.80 annualized dividend and a yield of 4.97%. Altria’s dividend payout ratio is 82.84%.

Several research firms recently issued reports on MO. Jefferies Group set a $70.00 price target on shares of Altria and gave the stock a “buy” rating in a research report on Friday, June 1st. Zacks Investment Research raised shares of Altria from a “sell” rating to a “hold” rating in a research report on Thursday, May 31st. ValuEngine lowered shares of Altria from a “sell” rating to a “strong sell” rating in a research report on Monday, May 14th. Morgan Stanley dropped their price target on shares of Altria from $70.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, April 27th. Finally, Argus reissued a “buy” rating and issued a $79.00 price target (up previously from $66.13) on shares of Altria in a research report on Wednesday, March 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $72.42.

Altria Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria (NYSE:MO).

Institutional Ownership by Quarter for Altria (NYSE:MO)

Receive News & Ratings for Altria Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply