Ropes Wealth Advisors LLC boosted its position in shares of Altria Group (NYSE:MO) by 9.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 15,157 shares of the company’s stock after buying an additional 1,281 shares during the period. Ropes Wealth Advisors LLC’s holdings in Altria Group were worth $958,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in MO. Integrated Wealth Counsel LLC boosted its stake in shares of Altria Group by 1,500.0% in the third quarter. Integrated Wealth Counsel LLC now owns 1,600 shares of the company’s stock valued at $101,000 after buying an additional 1,500 shares in the last quarter. First Personal Financial Services boosted its stake in shares of Altria Group by 66.3% in the second quarter. First Personal Financial Services now owns 1,603 shares of the company’s stock valued at $111,000 after buying an additional 639 shares in the last quarter. Timber Creek Capital Management LLC bought a new stake in shares of Altria Group during the third quarter valued at $113,000. Isthmus Partners LLC boosted its stake in shares of Altria Group by 37.8% in the third quarter. Isthmus Partners LLC now owns 1,822 shares of the company’s stock valued at $114,000 after buying an additional 500 shares in the last quarter. Finally, Zions Bancorporation boosted its stake in shares of Altria Group by 48.4% in the second quarter. Zions Bancorporation now owns 1,971 shares of the company’s stock valued at $137,000 after buying an additional 643 shares in the last quarter. Institutional investors and hedge funds own 60.92% of the company’s stock.
Shares of Altria Group (NYSE:MO) traded up 0.237% during mid-day trading on Friday, reaching $71.018. The company had a trading volume of 4,927,576 shares. The stock has a market capitalization of $138.63 billion, a price-to-earnings ratio of 26.698 and a beta of 0.55. The firm has a 50-day moving average price of $67.97 and a 200-day moving average price of $65.71. Altria Group has a 1-year low of $58.84 and a 1-year high of $71.22.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 27th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.01. Altria Group had a return on equity of 202.19% and a net margin of 20.19%. The company had revenue of $6.90 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same period in the prior year, the company posted $0.75 EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts expect that Altria Group will post $3.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 10th. Investors of record on Thursday, December 22nd were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 3.44%. The ex-dividend date was Tuesday, December 20th. Altria Group’s dividend payout ratio is currently 91.73%.
MO has been the topic of several research analyst reports. Jefferies Group LLC restated a “hold” rating and issued a $68.00 price objective on shares of Altria Group in a research report on Wednesday, November 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $65.00 target price on shares of Altria Group in a research note on Tuesday, November 29th. Zacks Investment Research lowered Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday, December 28th. Bank of America Corp raised Altria Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $70.00 to $75.00 in a research note on Wednesday, January 4th. Finally, Vetr lowered Altria Group from a “buy” rating to a “hold” rating and set a $67.46 target price for the company. in a research note on Wednesday, December 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Altria Group has an average rating of “Hold” and an average price target of $70.52.
In related news, CEO Martin J. Barrington sold 15,960 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $65.85, for a total transaction of $1,050,966.00. Following the transaction, the chief executive officer now directly owns 833,577 shares of the company’s stock, valued at approximately $54,891,045.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.15% of the company’s stock.
Altria Group Company Profile
Altria Group, Inc is a holding company. 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 large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.
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 (NYSE:MO).