AXQ Capital LP Purchases New Position in Altria Group, Inc. (NYSE:MO)

AXQ Capital LP purchased a new stake in shares of Altria Group, Inc. (NYSE:MOFree Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 35,200 shares of the company’s stock, valued at approximately $1,480,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. lifted its position in shares of Altria Group by 1.6% in the 1st quarter. Sei Investments Co. now owns 404,894 shares of the company’s stock worth $21,248,000 after purchasing an additional 6,324 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Altria Group by 5.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 18,647 shares of the company’s stock worth $974,000 after purchasing an additional 929 shares during the period. Loomis Sayles & Co. L P acquired a new position in shares of Altria Group in the 1st quarter worth approximately $25,000. Mackenzie Financial Corp lifted its position in shares of Altria Group by 3.4% in the 1st quarter. Mackenzie Financial Corp now owns 2,711,773 shares of the company’s stock worth $141,690,000 after purchasing an additional 89,334 shares during the period. Finally, First Western Trust Bank acquired a new position in shares of Altria Group in the 1st quarter worth approximately $498,000. 58.94% of the stock is owned by institutional investors.

Altria Group Stock Down 0.1 %

MO traded down $0.05 during trading on Friday, hitting $40.86. 9,135,215 shares of the company’s stock were exchanged, compared to its average volume of 7,795,174. The business’s 50 day moving average is $40.70 and its two-hundred day moving average is $41.63. Altria Group, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $48.04. The stock has a market cap of $72.05 billion, a P/E ratio of 8.94, a PEG ratio of 2.47 and a beta of 0.65.

Altria Group (NYSE:MOGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.01. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.07 earnings per share for the current year.

Altria Group announced that its board has initiated a stock buyback program on Thursday, February 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th will be issued a dividend of $0.98 per share. The ex-dividend date is Friday, March 22nd. This represents a $3.92 annualized dividend and a yield of 9.59%. Altria Group’s payout ratio is 85.78%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group reiterated a “sell” rating and set a $36.10 target price on shares of Altria Group in a research report on Tuesday, January 23rd. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Altria Group currently has an average rating of “Hold” and an average target price of $47.22.

Get Our Latest Stock Report on Altria Group

Altria Group Profile

(Free Report)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.

Further Reading

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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