K.J. Harrison & Partners Inc Invests $2.77 Million in Altria Group Inc (MO)

K.J. Harrison & Partners Inc purchased a new stake in shares of Altria Group Inc (NYSE:MO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 46,000 shares of the company’s stock, valued at approximately $2,774,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pekin Singer Strauss Asset Management IL increased its holdings in shares of Altria Group by 9.9% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 9,510 shares of the company’s stock valued at $540,000 after buying an additional 859 shares in the last quarter. Burney Co. increased its holdings in shares of Altria Group by 4.0% in the second quarter. Burney Co. now owns 22,348 shares of the company’s stock valued at $1,269,000 after buying an additional 859 shares in the last quarter. Cpwm LLC increased its holdings in shares of Altria Group by 23.9% in the second quarter. Cpwm LLC now owns 4,527 shares of the company’s stock valued at $257,000 after buying an additional 874 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of Altria Group by 3.9% in the second quarter. 180 Wealth Advisors LLC now owns 23,305 shares of the company’s stock valued at $1,323,000 after buying an additional 878 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its holdings in shares of Altria Group by 16.4% in the second quarter. Jaffetilchin Investment Partners LLC now owns 6,275 shares of the company’s stock valued at $356,000 after buying an additional 882 shares in the last quarter. 63.21% of the stock is currently owned by institutional investors.

NYSE MO opened at $63.09 on Friday. Altria Group Inc has a twelve month low of $53.91 and a twelve month high of $74.38. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.31 and a current ratio of 0.60. The company has a market cap of $118.94 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.79 and a beta of 0.61.



Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 25th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.07 by $0.01. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.22 billion. As a group, equities analysts expect that Altria Group Inc will post 4 earnings per share for the current year.

The business also recently declared 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 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 5.07%. The ex-dividend date of this dividend was Thursday, September 13th. Altria Group’s payout ratio is currently 94.67%.

In other news, Director Dinyar S. Devitre sold 3,165 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

Several research firms have weighed in on MO. ValuEngine upgraded shares of Altria Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Piper Jaffray Companies set a $75.00 price objective on shares of Altria Group and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Sanford C. Bernstein began coverage on shares of Altria Group in a research report on Tuesday, October 23rd. They set a “market perform” rating on the stock. Zacks Investment Research cut shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, Citigroup lifted their price objective on shares of Altria Group from $59.00 to $67.00 and gave the stock a “hold” rating in a research report on Friday, September 21st. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Altria Group currently has an average rating of “Buy” and a consensus target price of $70.44.

Altria Group 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.

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

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