Exchange Traded Concepts LLC Buys 87,826 Shares of Altria Group, Inc. $MO

Exchange Traded Concepts LLC lifted its stake in shares of Altria Group, Inc. (NYSE:MOFree Report) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 895,944 shares of the company’s stock after purchasing an additional 87,826 shares during the period. Exchange Traded Concepts LLC’s holdings in Altria Group were worth $51,660,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Darwin Wealth Management LLC bought a new position in Altria Group during the second quarter valued at $27,000. EMC Capital Management purchased a new stake in Altria Group in the third quarter worth $33,000. Gould Capital LLC bought a new stake in shares of Altria Group in the third quarter valued at $39,000. Elevation Wealth Partners LLC lifted its position in shares of Altria Group by 79.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 630 shares of the company’s stock valued at $36,000 after buying an additional 278 shares during the last quarter. Finally, Physician Wealth Advisors Inc. lifted its position in shares of Altria Group by 634.5% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 639 shares of the company’s stock valued at $42,000 after buying an additional 552 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Key Headlines Impacting Altria Group

Here are the key news stories impacting Altria Group this week:

Altria Group Price Performance

Altria Group stock opened at $66.46 on Friday. Altria Group, Inc. has a one year low of $52.82 and a one year high of $70.51. The business has a fifty day moving average price of $65.60 and a 200-day moving average price of $62.54. The firm has a market capitalization of $111.11 billion, a P/E ratio of 16.17, a PEG ratio of 2.76 and a beta of 0.45.

Altria Group (NYSE:MOGet Free Report) last released its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.30 earnings per share. Sell-side analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group’s payout ratio is presently 103.16%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Argus upgraded Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Jefferies Financial Group upped their price objective on shares of Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a report on Wednesday, March 4th. UBS Group increased their target price on shares of Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Stifel Nicolaus reduced their target price on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Finally, Barclays boosted their price target on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.11.

Check Out Our Latest Analysis on MO

Insider Buying and Selling at Altria Group

In other news, SVP Charles N. Whitaker sold 27,908 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the sale, the senior vice president directly owned 180,869 shares in the company, valued at $12,221,318.33. This represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.08% of the stock is currently owned by corporate insiders.

Altria Group Profile

(Free Report)

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.

See Also

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

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