Cambridge Investment Research Advisors Inc. cut its stake in shares of Altria Group Inc (NYSE:MO) by 0.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 424,128 shares of the company’s stock after selling 1,402 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Altria Group were worth $20,082,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in MO. Julex Capital Management LLC acquired a new position in shares of Altria Group during the third quarter worth about $25,000. Vigilant Capital Management LLC grew its position in shares of Altria Group by 140.3% during the third quarter. Vigilant Capital Management LLC now owns 704 shares of the company’s stock worth $29,000 after buying an additional 411 shares in the last quarter. HMS Capital Management LLC acquired a new position in shares of Altria Group during the second quarter worth about $41,000. Salomon & Ludwin LLC grew its position in shares of Altria Group by 189.0% during the second quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock worth $41,000 after buying an additional 567 shares in the last quarter. Finally, Titan Capital Management LLC CA acquired a new position in shares of Altria Group during the second quarter worth about $44,000. 63.28% of the stock is owned by institutional investors and hedge funds.
MO stock opened at $45.99 on Tuesday. The business has a 50 day moving average price of $42.69 and a 200 day moving average price of $48.08. The stock has a market cap of $87.73 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.75 and a beta of 0.40. Altria Group Inc has a fifty-two week low of $39.30 and a fifty-two week high of $66.04. The company has a quick ratio of 0.28, a current ratio of 0.56 and a debt-to-equity ratio of 1.87.
Altria Group (NYSE:MO) last posted its earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, hitting the consensus estimate of $1.10. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. As a group, sell-side analysts anticipate that Altria Group Inc will post 4.2 EPS for the current year.
Altria Group announced that its Board of Directors has authorized a share buyback plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 1.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were paid a dividend of $0.84 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.36 annualized dividend and a yield of 7.31%. Altria Group’s payout ratio is presently 84.21%.
A number of equities analysts have recently commented on MO shares. TheStreet downgraded Altria Group from a “b-” rating to a “c+” rating in a research report on Wednesday, August 14th. Goldman Sachs Group cut Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 target price for the company. in a research note on Friday, July 12th. Argus set a $60.00 target price on Altria Group and gave the stock a “buy” rating in a research note on Thursday, October 10th. ValuEngine upgraded Altria Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Piper Jaffray Companies set a $49.00 target price on Altria Group and gave the stock a “hold” rating in a research note on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $55.35.
Altria Group Company 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.
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