First Citizens Bank & Trust Co. lifted its position in Altria Group Inc (NYSE:MO) by 48.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 76,112 shares of the company’s stock after acquiring an additional 24,907 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Altria Group were worth $5,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Solaris Asset Management LLC lifted its stake in shares of Altria Group by 65.7% in the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after purchasing an additional 557 shares during the period. CKW Financial Group acquired a new position in shares of Altria Group in the 2nd quarter valued at $109,000. Balentine LLC lifted its stake in shares of Altria Group by 32.4% in the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after purchasing an additional 357 shares during the period. Oak Point Wealth Management acquired a new position in shares of Altria Group in the 4th quarter valued at $120,000. Finally, INR Advisory Services LLC acquired a new position in shares of Altria Group in the 2nd quarter valued at $134,000. Hedge funds and other institutional investors own 62.75% of the company’s stock.
MO has been the subject of several analyst reports. Vetr cut shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.89 target price for the company. in a research note on Friday, October 13th. Zacks Investment Research cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Piper Jaffray Companies reissued a “buy” rating and issued a $76.00 price target on shares of Altria Group in a report on Friday, October 27th. UBS Group cut their price target on shares of Altria Group from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, October 27th. Finally, Citigroup cut their price target on shares of Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Altria Group has a consensus rating of “Buy” and an average price target 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, topping the consensus estimate of $0.80 by $0.11. The company had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. analysts expect that Altria Group Inc will post 4 earnings per share for the current year.
Altria Group announced that its board has initiated a share buyback program on Thursday, February 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Thursday, December 21st were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.12%. The ex-dividend date was Wednesday, December 20th. Altria Group’s payout ratio is presently 49.62%.
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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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