Thrivent Financial for Lutherans Purchases 47,964 Shares of Altria Group, Inc. $MO

Thrivent Financial for Lutherans raised its position in Altria Group, Inc. (NYSE:MO) by 55.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 134,707 shares of the company’s stock after buying an additional 47,964 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Altria Group were worth $8,899,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Kercheville Advisors LLC grew its position in Altria Group by 3.7% in the third quarter. Kercheville Advisors LLC now owns 4,397 shares of the company’s stock valued at $290,000 after purchasing an additional 156 shares in the last quarter. Founders Grove Wealth Partners LLC lifted its position in Altria Group by 2.9% during the 3rd quarter. Founders Grove Wealth Partners LLC now owns 5,781 shares of the company’s stock worth $382,000 after buying an additional 165 shares in the last quarter. Westside Investment Management Inc. boosted its stake in shares of Altria Group by 4.5% during the 2nd quarter. Westside Investment Management Inc. now owns 3,816 shares of the company’s stock worth $224,000 after buying an additional 166 shares during the last quarter. Bar Harbor Wealth Management grew its holdings in shares of Altria Group by 3.1% in the 2nd quarter. Bar Harbor Wealth Management now owns 5,656 shares of the company’s stock valued at $332,000 after acquiring an additional 169 shares in the last quarter. Finally, Generali Asset Management SPA SGR increased its position in shares of Altria Group by 0.3% in the third quarter. Generali Asset Management SPA SGR now owns 50,805 shares of the company’s stock valued at $3,356,000 after acquiring an additional 170 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MO. UBS Group upped their target price on Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Stifel Nicolaus dropped their price objective on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Finally, Argus raised Altria Group to a “hold” rating in a report on Tuesday, January 13th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.56.

Altria Group Stock Up 0.4%

Shares of NYSE MO opened at $65.42 on Friday. The business’s 50 day moving average price is $59.56 and its two-hundred day moving average price is $61.91. The company has a market cap of $109.82 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 3.59 and a beta of 0.47. Altria Group, Inc. has a twelve month low of $52.37 and a twelve month high of $68.60.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.02). The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 earnings per share. As a group, research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were issued a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 6.5%. The ex-dividend date was Friday, December 26th. Altria Group’s payout ratio is currently 103.16%.

Altria Group declared that its Board of Directors has approved a share buyback plan on Thursday, October 30th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Altria Group Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.