Los Angeles Capital Management & Equity Research Inc. decreased its position in shares of Altria Group Inc (NYSE:MO) by 61.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 879,713 shares of the company’s stock after selling 1,386,867 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Altria Group were worth $55,791,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Kimelman & Baird LLC lifted its holdings in Altria Group by 1.2% during the 1st quarter. Kimelman & Baird LLC now owns 4,900 shares of the company’s stock worth $350,000 after purchasing an additional 58 shares in the last quarter. Chemung Canal Trust Co. lifted its holdings in Altria Group by 5.8% during the 1st quarter. Chemung Canal Trust Co. now owns 11,807 shares of the company’s stock worth $844,000 after purchasing an additional 651 shares in the last quarter. Private Asset Management Inc. lifted its holdings in Altria Group by 0.5% during the 2nd quarter. Private Asset Management Inc. now owns 6,623 shares of the company’s stock worth $493,000 after purchasing an additional 32 shares in the last quarter. Pioneer Trust Bank N A OR lifted its holdings in Altria Group by 101.6% during the 2nd quarter. Pioneer Trust Bank N A OR now owns 8,764 shares of the company’s stock worth $653,000 after purchasing an additional 4,417 shares in the last quarter. Finally, American National Bank lifted its holdings in Altria Group by 14.2% during the 2nd quarter. American National Bank now owns 3,712 shares of the company’s stock worth $276,000 after purchasing an additional 461 shares in the last quarter. Institutional investors own 62.64% of the company’s stock.
A number of brokerages recently issued reports on MO. Zacks Investment Research raised Altria Group from a “sell” rating to a “hold” rating in a report on Monday. Wells Fargo & Co increased their price objective on Altria Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Vetr raised Altria Group from a “sell” rating to a “hold” rating and set a $69.29 price objective on the stock in a report on Thursday, December 28th. Berenberg Bank raised Altria Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $60.01 to $71.00 in a report on Tuesday, December 19th. Finally, Jefferies Group set a $72.00 price objective on Altria Group and gave the stock a “hold” rating in a report on Friday, November 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $72.87.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the firm posted $0.82 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. equities research analysts forecast that Altria Group Inc will post 3.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st were issued a $0.66 dividend. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $2.64 annualized dividend and a dividend yield of 3.76%. Altria Group’s payout ratio is currently 33.00%.
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Altria Group Company Profile
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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