Altria Group (MO) Stake Increased by Pekin Singer Strauss Asset Management IL
Pekin Singer Strauss Asset Management IL increased its position in Altria Group (NYSE:MO) by 17.8% during the first quarter, Holdings Channel reports. The firm owned 10,970 shares of the company’s stock after buying an additional 1,660 shares during the period. Pekin Singer Strauss Asset Management IL’s holdings in Altria Group were worth $783,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Janus Capital Management LLC boosted its stake in Altria Group by 18.5% in the fourth quarter. Janus Capital Management LLC now owns 23,722,282 shares of the company’s stock worth $1,604,101,000 after buying an additional 3,700,520 shares during the period. Putnam Investments LLC boosted its stake in Altria Group by 186.6% in the fourth quarter. Putnam Investments LLC now owns 3,473,614 shares of the company’s stock worth $234,886,000 after buying an additional 2,261,462 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Altria Group during the fourth quarter worth approximately $151,559,000. Alyeska Investment Group L.P. bought a new stake in Altria Group during the fourth quarter worth approximately $65,629,000. Finally, Canada Pension Plan Investment Board boosted its stake in Altria Group by 23.8% in the first quarter. Canada Pension Plan Investment Board now owns 3,799,398 shares of the company’s stock worth $271,353,000 after buying an additional 730,600 shares during the period. Institutional investors own 61.99% of the company’s stock.
Altria Group (NYSE:MO) opened at 73.42 on Monday. The stock’s 50 day moving average is $75.10 and its 200 day moving average is $72.87. The stock has a market capitalization of $142.36 billion, a price-to-earnings ratio of 9.94 and a beta of 0.64. Altria Group has a 12-month low of $60.82 and a 12-month high of $77.79.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The firm had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.63 billion. Altria Group had a net margin of 55.99% and a return on equity of 76.43%. Altria Group’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. Equities research analysts forecast 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. Stockholders of record on Thursday, June 15th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Tuesday, June 13th. Altria Group’s payout ratio is currently 33.02%.
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MO has been the subject of a number of recent analyst reports. Vetr upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.89 target price for the company in a research note on Monday, April 17th. Barclays PLC reiterated an “equal weight” rating and issued a $74.00 target price on shares of Altria Group in a research note on Wednesday, March 29th. Zacks Investment Research cut shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. BidaskClub upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. Finally, Royal Bank Of Canada reiterated a “sell” rating and issued a $62.00 target price on shares of Altria Group in a research note on Friday, May 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $72.34.
In other news, Director George Munoz sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total transaction of $361,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dinyar S. Devitre sold 4,285 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $70.72, for a total value of $303,035.20. Following the sale, the director now owns 112,457 shares of the company’s stock, valued at approximately $7,952,959.04. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.
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.
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