Palladium Partners LLC lowered its holdings in Altria Group Inc (NYSE:MO) by 4.1% during the third quarter, HoldingsChannel.com reports. The firm owned 187,490 shares of the company’s stock after selling 8,085 shares during the period. Palladium Partners LLC’s holdings in Altria Group were worth $11,307,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. Principal Financial Group Inc. grew its stake in shares of Altria Group by 2.8% in the first quarter. Principal Financial Group Inc. now owns 3,036,027 shares of the company’s stock valued at $189,205,000 after buying an additional 81,646 shares in the last quarter. First Financial Bank Trust Division grew its stake in shares of Altria Group by 7.2% in the second quarter. First Financial Bank Trust Division now owns 17,845 shares of the company’s stock valued at $1,014,000 after buying an additional 1,203 shares in the last quarter. Gulf International Bank UK Ltd grew its stake in shares of Altria Group by 3.9% in the second quarter. Gulf International Bank UK Ltd now owns 36,581 shares of the company’s stock valued at $2,077,000 after buying an additional 1,366 shares in the last quarter. Newman Dignan & Sheerar Inc. grew its stake in shares of Altria Group by 31.2% in the second quarter. Newman Dignan & Sheerar Inc. now owns 5,761 shares of the company’s stock valued at $327,000 after buying an additional 1,370 shares in the last quarter. Finally, Rockland Trust Co. grew its stake in shares of Altria Group by 1.4% in the second quarter. Rockland Trust Co. now owns 70,449 shares of the company’s stock valued at $4,001,000 after buying an additional 995 shares in the last quarter. Institutional investors own 63.23% of the company’s stock.
A number of equities research analysts have recently weighed in on MO shares. Piper Jaffray Companies set a $75.00 price objective on Altria Group and gave the company a “buy” rating in a research note on Monday, July 23rd. Stifel Nicolaus lowered their target price 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. ValuEngine raised Altria Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th. Jefferies Financial Group cut Altria Group from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a research note on Friday, August 24th. Finally, Bank of America set a $70.00 target price on Altria Group and gave the stock a “buy” rating in a research note on Thursday, September 13th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $69.87.
MO opened at $65.04 on Thursday. Altria Group Inc has a 12 month low of $53.91 and a 12 month high of $74.38. The firm has a market cap of $123.77 billion, a P/E ratio of 19.24, a P/E/G ratio of 1.87 and a beta of 0.61. The company has a quick ratio of 0.36, a current ratio of 0.60 and a debt-to-equity ratio of 0.77.
Altria Group (NYSE:MO) last released its earnings results on Thursday, October 25th. The company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Altria Group had a return on equity of 48.31% and a net margin of 42.13%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.22 billion. As a group, research analysts forecast that Altria Group Inc will post 3.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Friday, September 14th were given a dividend of $0.80 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 4.92%. The ex-dividend date was Thursday, September 13th. Altria Group’s dividend payout ratio is currently 94.67%.
Altria Group Company 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.
Further Reading: Can individual investors take part in an IPO?
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).
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.