Altria Group Inc (MO) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC grew its stake in Altria Group Inc (NYSE:MO) by 20.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,607 shares of the company’s stock after purchasing an additional 3,701 shares during the quarter. Parallel Advisors LLC’s holdings in Altria Group were worth $1,303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pekin Singer Strauss Asset Management IL raised its stake in Altria Group by 9.9% during the second quarter. Pekin Singer Strauss Asset Management IL now owns 9,510 shares of the company’s stock worth $540,000 after purchasing an additional 859 shares during the period. Burney Co. raised its stake in Altria Group by 4.0% during the second quarter. Burney Co. now owns 22,348 shares of the company’s stock worth $1,269,000 after purchasing an additional 859 shares during the period. Reliance Trust Co. of Delaware raised its stake in Altria Group by 1.3% during the third quarter. Reliance Trust Co. of Delaware now owns 65,627 shares of the company’s stock worth $3,958,000 after purchasing an additional 871 shares during the period. Cpwm LLC raised its stake in Altria Group by 23.9% during the second quarter. Cpwm LLC now owns 4,527 shares of the company’s stock worth $257,000 after purchasing an additional 874 shares during the period. Finally, 180 Wealth Advisors LLC raised its stake in Altria Group by 3.9% during the second quarter. 180 Wealth Advisors LLC now owns 23,305 shares of the company’s stock worth $1,323,000 after purchasing an additional 878 shares during the period. Institutional investors and hedge funds own 63.23% of the company’s stock.

Altria Group stock opened at $63.67 on Friday. The company has a market capitalization of $119.64 billion, a PE ratio of 16.12, a P/E/G ratio of 1.81 and a beta of 0.40. Altria Group Inc has a 1 year low of $53.91 and a 1 year high of $74.38. The company has a current ratio of 0.60, a quick ratio of 0.36 and a debt-to-equity ratio of 0.77.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 25th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. On average, research analysts forecast that Altria Group Inc will post 3.99 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Friday, September 14th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.03%. This is an increase from Altria Group’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, September 13th. Altria Group’s payout ratio is 94.67%.

A number of equities analysts have commented on MO shares. Zacks Investment Research downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Piper Jaffray Companies set a $75.00 target price on shares of Altria Group and gave the stock a “buy” rating in a research note on Monday, July 23rd. Jefferies Financial Group downgraded shares of Altria Group from a “buy” rating to a “hold” rating and set a $61.00 target price on the stock. in a research note on Friday, August 24th. Argus lifted their target price on shares of Altria Group from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, October 29th. Finally, Citigroup lifted their target price on shares of Altria Group from $59.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, September 21st. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $69.87.

In other news, Director Dinyar S. Devitre sold 3,165 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total value of $184,962.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.

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.

Featured Story: Why do companies engage in swaps?

Institutional Ownership by Quarter for Altria Group (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.

Leave a Reply