Mogy Joel R Investment Counsel Inc. decreased its holdings in Altria Group Inc (NYSE:MO) by 1.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,285 shares of the company’s stock after selling 1,000 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in Altria Group were worth $4,457,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Park Avenue Securities LLC lifted its position in Altria Group by 25.7% during the 3rd quarter. Park Avenue Securities LLC now owns 12,559 shares of the company’s stock worth $790,000 after acquiring an additional 2,566 shares during the period. Oakworth Capital Inc. lifted its position in Altria Group by 21.2% during the 3rd quarter. Oakworth Capital Inc. now owns 14,052 shares of the company’s stock worth $891,000 after acquiring an additional 2,461 shares during the period. Norinchukin Bank The lifted its position in Altria Group by 2.4% during the 3rd quarter. Norinchukin Bank The now owns 243,480 shares of the company’s stock worth $15,442,000 after acquiring an additional 5,753 shares during the period. ING Groep NV acquired a new stake in Altria Group during the 3rd quarter worth about $2,131,000. Finally, Pinnacle Financial Partners Inc. lifted its position in Altria Group by 14.3% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 82,584 shares of the company’s stock worth $5,237,000 after acquiring an additional 10,332 shares during the period. 62.64% of the stock is owned by hedge funds and other institutional investors.
Altria Group Inc (NYSE:MO) opened at $71.12 on Friday. The firm has a market capitalization of $133,630.55, a PE ratio of 8.90, a price-to-earnings-growth ratio of 2.56 and a beta of 0.62. Altria Group Inc has a 52 week low of $60.01 and a 52 week high of $77.79. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.48 and a current ratio of 0.77.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Thursday, December 21st were paid 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 3.71%. Altria Group’s dividend payout ratio is presently 33.04%.
MO has been the subject of a number of recent research reports. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Tuesday, October 31st. Citigroup reduced their price objective on Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, October 30th. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.89 price objective for the company. in a research note on Monday, October 30th. Piper Jaffray Companies reiterated a “buy” rating and set a $76.00 price objective on shares of Altria Group in a research note on Friday, October 27th. Finally, Edward Jones upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.71.
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Altria Group 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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