Wedge Capital Management L L P NC grew its position in Altria Group Inc (NYSE:MO) by 2.2% during the fourth quarter, HoldingsChannel reports. The firm owned 812,511 shares of the company’s stock after buying an additional 17,302 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Altria Group were worth $40,552,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in MO. Julex Capital Management LLC bought a new position in shares of Altria Group during the 3rd quarter worth about $25,000. Simon Quick Advisors LLC increased its position in Altria Group by 518.4% in the 4th quarter. Simon Quick Advisors LLC now owns 538 shares of the company’s stock valued at $27,000 after acquiring an additional 451 shares in the last quarter. Vigilant Capital Management LLC increased its stake in shares of Altria Group by 140.3% in the 3rd quarter. Vigilant Capital Management LLC now owns 704 shares of the company’s stock valued at $29,000 after buying an additional 411 shares during the period. KCS Wealth Advisory bought a new stake in Altria Group during the 3rd quarter worth about $40,000. Finally, Salomon & Ludwin LLC boosted its stake in shares of Altria Group by 189.0% in the 2nd quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock valued at $41,000 after purchasing an additional 567 shares during the last quarter. 62.51% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on MO. Argus set a $60.00 price target on shares of Altria Group and gave the stock a “buy” rating in a research note on Thursday, October 10th. Stifel Nicolaus restated a “buy” rating on shares of Altria Group in a research report on Tuesday, October 15th. ValuEngine cut Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday. Bank of America set a $54.00 price objective on Altria Group and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Piper Jaffray Companies set a $49.00 target price on Altria Group and gave the company a “hold” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $54.86.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.15 by $0.04. Altria Group had a net margin of 7.00% and a return on equity of 56.17%. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same period last year, the company posted $1.08 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts predict that Altria Group Inc will post 4.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Tuesday, December 24th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 6.56%. Altria Group’s payout ratio is presently 84.21%.
Altria Group 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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