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 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.
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