Nachman Norwood & Parrott Inc cut its position in shares of Altria Group Inc (NYSE:MO) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,382 shares of the company’s stock after selling 363 shares during the quarter. Nachman Norwood & Parrott Inc’s holdings in Altria Group were worth $668,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farmers Trust Co. lifted its holdings in Altria Group by 2.3% in the third quarter. Farmers Trust Co. now owns 9,526 shares of the company’s stock worth $390,000 after purchasing an additional 216 shares during the period. Dividend Assets Capital LLC lifted its holdings in Altria Group by 3.1% in the third quarter. Dividend Assets Capital LLC now owns 7,264 shares of the company’s stock worth $297,000 after purchasing an additional 216 shares during the period. Outlook Wealth Advisors LLC lifted its holdings in Altria Group by 2.6% in the 2nd quarter. Outlook Wealth Advisors LLC now owns 9,006 shares of the company’s stock valued at $426,000 after acquiring an additional 225 shares during the last quarter. Torray LLC lifted its holdings in Altria Group by 0.6% in the 3rd quarter. Torray LLC now owns 41,398 shares of the company’s stock valued at $1,693,000 after acquiring an additional 228 shares during the last quarter. Finally, Cleararc Capital Inc. lifted its holdings in Altria Group by 0.8% in the 3rd quarter. Cleararc Capital Inc. now owns 28,145 shares of the company’s stock valued at $1,151,000 after acquiring an additional 232 shares during the last quarter. Institutional investors and hedge funds own 62.51% of the company’s stock.
A number of equities research analysts have weighed in on MO shares. Piper Jaffray Companies set a $49.00 price target on shares of Altria Group and gave the company a “hold” rating in a report on Monday, September 30th. Bank of America set a $54.00 price target on shares of Altria Group and gave the company a “buy” rating in a report on Friday, November 1st. Argus set a $60.00 price target on shares of Altria Group and gave the company a “buy” rating in a report on Thursday, October 10th. Stifel Nicolaus reissued a “buy” rating on shares of Altria Group in a report on Tuesday, October 15th. Finally, ValuEngine downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.86.
Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.34 billion. Altria Group had a return on equity of 56.17% and a net margin of 7.00%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 earnings per share. Equities analysts expect 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 Friday, January 10th. Shareholders of record on Thursday, December 26th were given a dividend of $0.84 per share. The ex-dividend date was Tuesday, December 24th. This represents a $3.36 dividend on an annualized basis and a yield of 6.56%. Altria Group’s payout ratio is currently 84.21%.
Altria Group Company 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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