Evanson Asset Management LLC lowered its stake in shares of Altria Group Inc (NYSE:MO) by 7.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 17,020 shares of the company’s stock after selling 1,281 shares during the quarter. Evanson Asset Management LLC’s holdings in Altria Group were worth $696,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of MO. Interactive Financial Advisors boosted its holdings in shares of Altria Group by 166.7% in the 1st quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock valued at $46,000 after purchasing an additional 500 shares in the last quarter. HMS Capital Management LLC acquired a new stake in shares of Altria Group during the 2nd quarter valued at $41,000. Salomon & Ludwin LLC boosted its holdings in shares of Altria Group by 189.0% during the 2nd quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock valued at $41,000 after acquiring an additional 567 shares in the last quarter. Titan Capital Management LLC CA acquired a new stake in shares of Altria Group during the 2nd quarter valued at $44,000. Finally, Perkins Coie Trust Co boosted its holdings in shares of Altria Group by 214.0% during the 2nd quarter. Perkins Coie Trust Co now owns 967 shares of the company’s stock valued at $46,000 after acquiring an additional 659 shares in the last quarter. 63.25% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the company. Piper Jaffray Companies set a $49.00 price objective on Altria Group and gave the company a “hold” rating in a report on Monday, September 30th. Royal Bank of Canada set a $68.00 price objective on Altria Group and gave the company a “buy” rating in a report on Wednesday, July 31st. ValuEngine raised Altria Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Cowen reissued a “hold” rating on shares of Altria Group in a report on Thursday, September 12th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Altria Group in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Altria Group currently has an average rating of “Hold” and an average target price of $57.53.
Altria Group (NYSE:MO) last announced its earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.10. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. Altria Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $1.01 EPS. On average, research analysts anticipate that Altria Group Inc will post 4.21 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were given a dividend of $0.84 per share. This is a positive change from Altria Group’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 7.82%. The ex-dividend date of this dividend was Friday, September 13th. Altria Group’s dividend payout ratio (DPR) is currently 84.21%.
Altria Group declared that its Board of Directors has initiated a stock buyback program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 1.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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.
Read More: Short Selling Stocks and Day Traders
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.