Elkhorn Investments LLC purchased a new stake in shares of Altria Group (NYSE:MO) during the first quarter, Holdings Channel reports. The firm purchased 18,252 shares of the company’s stock, valued at approximately $1,304,000. Altria Group makes up 1.1% of Elkhorn Investments LLC’s portfolio, making the stock its 22nd largest position.

Other institutional investors have also recently modified their holdings of the company. Acropolis Investment Management LLC raised its position in shares of Altria Group by 0.3% in the first quarter. Acropolis Investment Management LLC now owns 1,939 shares of the company’s stock valued at $138,000 after buying an additional 5 shares in the last quarter. Mascoma Wealth Management LLC raised its position in shares of Altria Group by 0.3% in the first quarter. Mascoma Wealth Management LLC now owns 2,701 shares of the company’s stock valued at $193,000 after buying an additional 8 shares in the last quarter. HM Capital Management LLC raised its position in shares of Altria Group by 0.3% in the first quarter. HM Capital Management LLC now owns 3,435 shares of the company’s stock valued at $245,000 after buying an additional 9 shares in the last quarter. Strategic Financial Group LLC raised its position in shares of Altria Group by 0.4% in the first quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock valued at $235,000 after buying an additional 14 shares in the last quarter. Finally, First United Bank Trust raised its position in shares of Altria Group by 1.0% in the first quarter. First United Bank Trust now owns 2,999 shares of the company’s stock valued at $214,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 62.01% of the company’s stock.

Altria Group (NYSE:MO) opened at 73.37 on Tuesday. Altria Group has a one year low of $60.82 and a one year high of $77.79. The firm has a market capitalization of $142.26 billion, a P/E ratio of 9.93 and a beta of 0.64. The stock has a 50 day moving average price of $74.43 and a 200 day moving average price of $72.19.

Altria Group (NYSE:MO) last announced its earnings results on Tuesday, May 2nd. The company reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.01. Altria Group had a return on equity of 76.43% and a net margin of 55.99%. The business had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities analysts predict that Altria Group will post $3.28 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 10th. Investors of record on Thursday, June 15th were paid a $0.61 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $2.44 dividend on an annualized basis and a yield of 3.33%. Altria Group’s dividend payout ratio (DPR) is 33.02%.

ILLEGAL ACTIVITY NOTICE: “Elkhorn Investments LLC Buys New Stake in Altria Group (NYSE:MO)” was first posted by Daily Political and is owned by of Daily Political. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/07/18/elkhorn-investments-llc-buys-new-stake-in-altria-group-nysemo.html.

Several equities analysts recently issued reports on the company. Jefferies Group LLC restated a “hold” rating and set a $70.00 price target (down from $71.00) on shares of Altria Group in a research note on Monday. Piper Jaffray Companies assumed coverage on Altria Group in a research note on Wednesday, May 24th. They set an “overweight” rating and a $76.00 price target on the stock. Zacks Investment Research lowered Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Cowen and Company reiterated a “hold” rating and issued a $74.00 price objective on shares of Altria Group in a research note on Tuesday, July 11th. Finally, BidaskClub lowered Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $72.34.

In related news, Director George Munoz sold 5,000 shares of Altria Group stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $72.35, for a total value of $361,750.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dinyar S. Devitre sold 4,285 shares of Altria Group stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $70.72, for a total transaction of $303,035.20. Following the completion of the transaction, the director now directly owns 112,457 shares in the company, valued at $7,952,959.04. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

About Altria Group

Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. 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 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).

Institutional Ownership by Quarter 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.