Optimum Investment Advisors Reduces Position in Altria Group Inc (MO)
Optimum Investment Advisors reduced its position in shares of Altria Group Inc (NYSE:MO) by 31.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,563 shares of the company’s stock after selling 5,273 shares during the period. Optimum Investment Advisors’ holdings in Altria Group were worth $733,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of MO. Solaris Asset Management LLC increased its position in Altria Group by 65.7% in the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after buying an additional 557 shares during the period. CKW Financial Group acquired a new stake in Altria Group in the second quarter worth $109,000. NewSquare Capital LLC increased its position in Altria Group by 4,734.7% in the third quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after buying an additional 106,530 shares during the period. Balentine LLC increased its position in Altria Group by 32.4% in the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after buying an additional 357 shares during the period. Finally, Quantum Capital Management LLC NJ acquired a new stake in Altria Group in the third quarter worth $114,000. 62.75% of the stock is currently owned by institutional investors and hedge funds.
MO has been the topic of several analyst reports. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.89 target price on the stock. in a research report on Friday, October 13th. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Wednesday, October 11th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $76.00 target price on shares of Altria Group in a research report on Friday, October 27th. Citigroup dropped their target price on Altria Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, October 30th. Finally, Edward Jones raised Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $73.20.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.80 billion. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. sell-side analysts predict that Altria Group Inc will post 4 EPS for the current fiscal year.
Altria Group declared that its Board of Directors has approved a share repurchase plan on Thursday, February 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Wednesday, December 20th. Altria Group’s dividend payout ratio (DPR) is 49.62%.
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About Altria Group
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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