Angeles Investment Advisors LLC decreased its stake in Altria Group, Inc. (NYSE:MO) by 38.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,000 shares of the company’s stock after selling 2,500 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Altria Group were worth $205,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of MO. Freedman Financial Associates Inc. purchased a new stake in shares of Altria Group in the fourth quarter worth about $25,000. TRU Independence Asset Management 2 LLC purchased a new stake in shares of Altria Group in the fourth quarter worth about $25,000. Encompass Wealth Advisors LLC purchased a new stake in shares of Altria Group in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. boosted its stake in shares of Altria Group by 263.3% in the first quarter. Mizuho Securities Co. Ltd. now owns 545 shares of the company’s stock worth $28,000 after buying an additional 395 shares during the last quarter. Finally, JNBA Financial Advisors boosted its stake in shares of Altria Group by 158.2% in the first quarter. JNBA Financial Advisors now owns 581 shares of the company’s stock worth $30,000 after buying an additional 356 shares during the last quarter. Hedge funds and other institutional investors own 60.48% of the company’s stock.
In related news, Director Ellen R. Strahlman purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 26th. The stock was purchased at an average price of $49.59 per share, with a total value of $99,180.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by company insiders.
Altria Group (NYSE:MO) last announced its earnings results on Wednesday, April 28th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Altria Group had a return on equity of 215.81% and a net margin of 16.80%. The business had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.98 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. As a group, analysts forecast that Altria Group, Inc. will post 4.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 9th. Investors of record on Tuesday, June 15th were issued a $0.86 dividend. The ex-dividend date was Monday, June 14th. This represents a $3.44 annualized dividend and a dividend yield of 7.31%. Altria Group’s dividend payout ratio is presently 78.90%.
A number of research firms recently weighed in on MO. Argus reaffirmed a “hold” rating on shares of Altria Group in a report on Tuesday, May 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $56.00 price target on shares of Altria Group in a report on Friday, April 16th. Morgan Stanley upped their price target on Altria Group from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, May 10th. Redburn Partners began coverage on Altria Group in a report on Thursday, June 17th. They issued a “neutral” rating for the company. Finally, Jefferies Financial Group raised Altria Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $40.00 to $58.00 in a report on Friday, March 26th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $52.00.
Altria Group Profile
Altria Group, Inc operates as a holding company, which engages in the manufacture and sale of cigarettes in the United States. It operates through the following segments: Smokeable Products, Smokeless Products, and Wine. The Smokeable Products segment comprised of cigarettes manufactured and sold by PM USA and machine-made large cigars and pipe tobacco manufactured and sold by Middleton.
Featured Article: What is the S&P/ASX 200 Index?
Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO).
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.