Aviance Capital Management LLC Raises Position in Altria Group (MO)
Aviance Capital Management LLC raised its position in shares of Altria Group (NYSE:MO) by 33.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 509,476 shares of the company’s stock after buying an additional 127,618 shares during the period. Altria Group comprises approximately 1.1% of Aviance Capital Management LLC’s holdings, making the stock its 26th largest position. Aviance Capital Management LLC’s holdings in Altria Group were worth $35,133,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Thomas White International Ltd. increased its position in shares of Altria Group by 70.3% in the first quarter. Thomas White International Ltd. now owns 29,022 shares of the company’s stock worth $1,818,000 after buying an additional 11,982 shares in the last quarter. Alexandria Capital LLC increased its position in shares of Altria Group by 175.6% in the first quarter. Alexandria Capital LLC now owns 17,892 shares of the company’s stock worth $1,121,000 after buying an additional 11,401 shares in the last quarter. Mn Services Vermogensbeheer B.V. acquired a new position in shares of Altria Group during the first quarter worth $2,702,000. Aperio Group LLC increased its position in shares of Altria Group by 3.1% in the first quarter. Aperio Group LLC now owns 947,642 shares of the company’s stock worth $59,379,000 after buying an additional 28,599 shares in the last quarter. Finally, Sarasin & Partners LLP increased its position in shares of Altria Group by 7.3% in the first quarter. Sarasin & Partners LLP now owns 613,202 shares of the company’s stock worth $38,423,000 after buying an additional 41,606 shares in the last quarter. Institutional investors and hedge funds own 61.29% of the company’s stock.
Altria Group (NYSE:MO) traded up 0.39% during trading on Tuesday, hitting $61.99. The company had a trading volume of 7,260,191 shares. The stock has a 50-day moving average of $64.23 and a 200-day moving average of $65.01. The stock has a market capitalization of $121.13 billion, a PE ratio of 21.52 and a beta of 0.52. Altria Group has a one year low of $56.15 and a one year high of $70.15.
Altria Group (NYSE:MO) last released its earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. The firm earned $6.52 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. On average, equities analysts anticipate that Altria Group will post $3.05 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Tuesday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s dividend payout ratio is 84.72%.
A number of research analysts have commented on the company. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Monday, July 11th. Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $77.35 target price on the stock in a research note on Wednesday, July 20th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $69.00 target price (up previously from $64.00) on shares of Altria Group in a research note on Friday, July 15th. Argus set a $73.00 target price on Altria Group and gave the company a “buy” rating in a research note on Monday, August 1st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $71.00 target price (up previously from $65.00) on shares of Altria Group in a research note on Monday, June 27th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $69.44.
In other Altria Group news, SVP Charles N. Whitaker sold 11,000 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $66.53, for a total transaction of $731,830.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James E. Dillard III sold 9,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total value of $600,120.00. The disclosure for this sale can be found here. Company 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).
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.