Altria Group Inc (NYSE:MO) Position Reduced by Moors & Cabot Inc.
Moors & Cabot Inc. lessened its position in Altria Group Inc (NYSE:MO) by 8.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 53,404 shares of the company’s stock after selling 5,215 shares during the period. Moors & Cabot Inc.’s holdings in Altria Group were worth $3,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Litman Gregory Asset Management LLC bought a new position in shares of Altria Group during the 4th quarter worth about $30,000. Country Trust Bank increased its holdings in shares of Altria Group by 86.9% during the 1st quarter. Country Trust Bank now owns 514 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares during the period. Transamerica Financial Advisors Inc. increased its holdings in shares of Altria Group by 627.6% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 713 shares of the company’s stock worth $36,000 after purchasing an additional 615 shares during the period. James Investment Research Inc. bought a new position in shares of Altria Group during the 1st quarter worth about $43,000. Finally, Clarfeld Financial Advisors LLC bought a new position in shares of Altria Group during the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 64.49% of the company’s stock.
MO has been the topic of several research reports. Citigroup set a $45.00 price objective on shares of Altria Group and gave the stock a “sell” rating in a report on Friday, April 26th. ValuEngine upgraded shares of Altria Group from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Bank of America boosted their price objective on shares of Altria Group from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Morgan Stanley boosted their price objective on shares of Altria Group from $45.00 to $49.00 and gave the stock an “underweight” rating in a report on Monday, April 15th. Finally, TheStreet upgraded shares of Altria Group from a “c+” rating to a “b-” rating in a report on Friday, March 29th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Altria Group currently has an average rating of “Hold” and a consensus price target of $61.91.
Shares of Altria Group stock opened at $50.86 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.39 and a debt-to-equity ratio of 1.92. Altria Group Inc has a twelve month low of $42.40 and a twelve month high of $66.04. The stock has a market cap of $95.81 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, April 25th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). Altria Group had a net margin of 24.87% and a return on equity of 49.42%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter last year, the firm posted $0.95 earnings per share. Altria Group’s revenue was down 6.0% on a year-over-year basis. Research analysts forecast that Altria Group Inc will post 4.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.20 annualized dividend and a dividend yield of 6.29%. Altria Group’s dividend payout ratio (DPR) is currently 80.20%.
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.
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