Sterling Investment Counsel LLC Purchases Shares of 9,121 Altria Group, Inc. $MO
by Scott Moore · The Cerbat GemSterling Investment Counsel LLC acquired a new position in shares of Altria Group, Inc. (NYSE:MO – Free Report) in the fourth quarter, Holdings Channel reports. The fund acquired 9,121 shares of the company’s stock, valued at approximately $526,000.
Several other institutional investors have also made changes to their positions in MO. Darwin Wealth Management LLC bought a new position in Altria Group during the second quarter worth about $27,000. Creative Capital Management Investments LLC bought a new stake in shares of Altria Group in the 4th quarter valued at approximately $29,000. EMC Capital Management bought a new stake in shares of Altria Group in the 3rd quarter valued at approximately $33,000. Elevation Wealth Partners LLC raised its holdings in shares of Altria Group by 79.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 630 shares of the company’s stock worth $36,000 after buying an additional 278 shares in the last quarter. Finally, Gould Capital LLC acquired a new position in shares of Altria Group in the 3rd quarter worth approximately $39,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.
Altria Group Stock Down 1.1%
Shares of NYSE:MO opened at $64.21 on Friday. The firm has a market cap of $107.32 billion, a P/E ratio of 15.62, a P/E/G ratio of 2.60 and a beta of 0.41. Altria Group, Inc. has a 12 month low of $54.70 and a 12 month high of $70.51. The company’s 50-day moving average price is $66.59 and its two-hundred day moving average price is $62.59.
Altria Group (NYSE:MO – Get Free Report) last announced its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. The company’s revenue was down .5% on a year-over-year basis. As a group, equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.
Altria Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be issued a dividend of $1.06 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $4.24 annualized dividend and a yield of 6.6%. Altria Group’s dividend payout ratio is currently 103.16%.
Insider Transactions at Altria Group
In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total value of $1,885,743.56. Following the transaction, the senior vice president directly owned 180,869 shares in the company, valued at approximately $12,221,318.33. This trade represents a 13.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.10% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on MO shares. Stifel Nicolaus decreased their price target on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Barclays increased their price objective on Altria Group from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Monday, February 23rd. UBS Group boosted their target price on shares of Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Jefferies Financial Group upped their target price on shares of Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a report on Wednesday, March 4th. Finally, Argus raised shares of Altria Group to a “hold” rating in a report on Tuesday, January 13th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $65.88.
View Our Latest Stock Analysis on Altria Group
Altria Group Company Profile
Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.
Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.
Further Reading
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