FormulaFolio Investments LLC Boosts Stake in Altria Group (MO)

FormulaFolio Investments LLC Boosts Stake in Altria Group (MO)

FormulaFolio Investments LLC boosted its stake in Altria Group (NYSE:MO) by 15.1% during the third quarter, Holdings Channel reports. The firm owned 14,648 shares of the company’s stock after buying an additional 1,919 shares during the period. FormulaFolio Investments LLC’s holdings in Altria Group were worth $926,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MO. Airain ltd boosted its position in shares of Altria Group by 67.7% in the third quarter. Airain ltd now owns 302,946 shares of the company’s stock worth $19,155,000 after buying an additional 122,291 shares during the last quarter. Jacobus Wealth Management Inc. boosted its position in shares of Altria Group by 113.1% in the third quarter. Jacobus Wealth Management Inc. now owns 3,485 shares of the company’s stock worth $220,000 after buying an additional 1,850 shares during the last quarter. Dubuque Bank & Trust Co. boosted its position in shares of Altria Group by 16.1% in the third quarter. Dubuque Bank & Trust Co. now owns 3,466 shares of the company’s stock worth $219,000 after buying an additional 480 shares during the last quarter. Condor Capital Management boosted its position in shares of Altria Group by 1.8% in the third quarter. Condor Capital Management now owns 13,528 shares of the company’s stock worth $855,000 after buying an additional 240 shares during the last quarter. Finally, Americafirst Capital Management LLC boosted its position in shares of Altria Group by 177.0% in the third quarter. Americafirst Capital Management LLC now owns 5,431 shares of the company’s stock worth $343,000 after buying an additional 3,470 shares during the last quarter. 61.04% of the stock is owned by hedge funds and other institutional investors.

Shares of Altria Group (NYSE:MO) opened at 71.49 on Friday. The firm has a market capitalization of $139.40 billion, a price-to-earnings ratio of 9.82 and a beta of 0.61. The company has a 50-day moving average price of $68.90 and a 200-day moving average price of $65.80. Altria Group has a 12 month low of $59.00 and a 12 month high of $72.08.

Altria Group (NYSE:MO) last released its earnings results on Wednesday, February 1st. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The firm earned $5.45 billion during the quarter, compared to the consensus estimate of $4.80 billion. Altria Group had a return on equity of 109.95% and a net margin of 55.31%. The company’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 EPS. Equities analysts forecast that Altria Group will post $3.32 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 10th. Stockholders of record on Thursday, December 22nd were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Tuesday, December 20th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.41%. Altria Group’s payout ratio is 33.47%.

A number of brokerages have issued reports on MO. Argus lifted their price objective on Altria Group from $73.00 to $79.00 and gave the company a “buy” rating in a report on Friday. Berenberg Bank cut Altria Group from a “buy” rating to a “hold” rating in a report on Friday. Vetr cut Altria Group from a “hold” rating to a “sell” rating and set a $67.75 price objective for the company. in a report on Monday, January 23rd. Zacks Investment Research cut Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 4th. Finally, Bank of America Corporation raised Altria Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $75.00 in a report on Wednesday, January 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $70.98.

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).

Related posts

Leave a Comment