M Holdings Securities Inc. grew its position in Altria Group Inc (NYSE:MO) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,788 shares of the company’s stock after purchasing an additional 1,313 shares during the period. M Holdings Securities Inc.’s holdings in Altria Group were worth $487,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. NewSquare Capital LLC increased its holdings in Altria Group by 4,734.7% during the third quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after buying an additional 106,530 shares during the last quarter. Balentine LLC increased its holdings in Altria Group by 32.4% during the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after buying an additional 357 shares during the last quarter. Quantum Capital Management LLC NJ purchased a new stake in Altria Group during the third quarter worth about $114,000. Northwest Investment Counselors LLC increased its holdings in Altria Group by 557.0% during the third quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock worth $115,000 after buying an additional 1,543 shares during the last quarter. Finally, Oak Point Wealth Management purchased a new stake in Altria Group during the fourth quarter worth about $120,000. Institutional investors own 62.57% of the company’s stock.
A number of analysts recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $62.00 price objective (down previously from $65.00) on shares of Altria Group in a report on Monday, February 5th. Vetr upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.45 price objective for the company in a report on Monday, February 5th. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Tuesday, February 6th. Argus restated a “buy” rating and set a $79.00 price objective (up previously from $66.13) on shares of Altria Group in a report on Wednesday, March 14th. Finally, Jefferies Group restated a “buy” rating and set a $84.00 price objective on shares of Altria Group in a report on Thursday, March 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $74.53.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, February 1st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. The firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.68 earnings per share. equities research analysts anticipate that Altria Group Inc will post 4.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 10th. Stockholders of record on Thursday, March 15th were paid a $0.70 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.66. The ex-dividend date was Wednesday, March 14th. This represents a $2.80 annualized dividend and a dividend yield of 4.38%. Altria Group’s dividend payout ratio (DPR) is presently 82.84%.
Altria Group declared that its board has authorized a stock repurchase program on Thursday, February 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO Craig A. Johnson sold 14,953 shares of Altria Group stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $66.59, for a total value of $995,720.27. Following the completion of the transaction, the chief executive officer now owns 64,809 shares in the company, valued at $4,315,631.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of Altria Group stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $62.34, for a total transaction of $199,488.00. The disclosure for this sale can be found here. Insiders sold 28,117 shares of company stock valued at $1,821,707 in the last quarter. Corporate insiders own 0.11% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “M Holdings Securities Inc. Has $487,000 Stake in Altria Group Inc (MO)” was originally reported by Dakota Financial News and is the property of of Dakota Financial News. If you are viewing this report on another website, it was copied illegally and republished in violation of international trademark and copyright laws. The legal version of this report can be read at https://dakotafinancialnews.com/2018/04/14/m-holdings-securities-inc-has-487000-stake-in-altria-group-inc-mo.html.
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.
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.