Lourd Capital LLC Invests $494,000 in Altria Group Inc (MO)

Lourd Capital LLC bought a new stake in Altria Group Inc (NYSE:MO) in the third quarter, HoldingsChannel reports. The institutional investor bought 8,184 shares of the company’s stock, valued at approximately $494,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MO. Morgan Stanley raised its stake in Altria Group by 49.6% during the second quarter. Morgan Stanley now owns 16,461,864 shares of the company’s stock worth $934,869,000 after acquiring an additional 5,454,989 shares in the last quarter. FMR LLC raised its stake in Altria Group by 14.1% during the second quarter. FMR LLC now owns 37,263,858 shares of the company’s stock worth $2,116,214,000 after acquiring an additional 4,613,088 shares in the last quarter. BlackRock Inc. raised its stake in Altria Group by 3.4% during the second quarter. BlackRock Inc. now owns 138,589,215 shares of the company’s stock worth $7,870,481,000 after acquiring an additional 4,581,335 shares in the last quarter. Charles Schwab Investment Advisory Inc. acquired a new position in Altria Group during the second quarter worth $178,215,000. Finally, Voya Investment Management LLC raised its stake in Altria Group by 354.6% during the second quarter. Voya Investment Management LLC now owns 3,883,621 shares of the company’s stock worth $220,551,000 after acquiring an additional 3,029,307 shares in the last quarter. Institutional investors and hedge funds own 63.12% of the company’s stock.

Several research analysts have issued reports on the company. Zacks Investment Research lowered Altria Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup increased their price objective on Altria Group from $59.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, September 21st. Stifel Nicolaus dropped their price objective on Altria Group from $78.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Piper Jaffray Companies set a $75.00 price objective on Altria Group and gave the stock a “buy” rating in a research note on Monday, July 23rd. Finally, Jefferies Financial Group lowered Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a research note on Friday, August 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $70.28.

In related news, Director Dinyar S. Devitre sold 3,165 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $58.44, for a total value of $184,962.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by corporate insiders.

Shares of MO stock opened at $62.91 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.83. The firm has a market cap of $113.69 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.71 and a beta of 0.61. Altria Group Inc has a 52 week low of $53.91 and a 52 week high of $74.38.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, July 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $1.00 by $0.01. The company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, equities analysts predict that Altria Group Inc will post 4 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Friday, September 14th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend was Thursday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.70. Altria Group’s dividend payout ratio is presently 94.67%.

About Altria Group

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.

Read More: Buyback

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group Inc (NYSE:MO).

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

Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply