Bridgeworth LLC purchased a new position in shares of Altria Group Inc (NYSE:MO) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 2,767 shares of the company’s stock, valued at approximately $157,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. IMA Wealth Inc. purchased a new position in Altria Group in the second quarter valued at about $106,000. BerganKDV Wealth Management LLC purchased a new position in Altria Group in the second quarter valued at about $123,000. Landaas & Co. WI ADV purchased a new position in Altria Group in the second quarter valued at about $137,000. New England Asset Management Inc. purchased a new position in Altria Group in the second quarter valued at about $138,000. Finally, Centerpoint Advisors LLC increased its holdings in Altria Group by 73.7% in the first quarter. Centerpoint Advisors LLC now owns 2,355 shares of the company’s stock valued at $147,000 after buying an additional 999 shares in the last quarter. 63.27% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Dinyar S. Devitre sold 3,165 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by company insiders.

A number of research analysts have issued reports on MO shares. Jefferies Financial Group set a $70.00 target price on shares of Altria Group and gave the company a “buy” rating in a report on Friday, June 1st. Piper Jaffray Companies set a $75.00 target price on shares of Altria Group and gave the company a “buy” rating in a report on Monday, July 23rd. Consumer Edge started coverage on shares of Altria Group in a report on Monday, June 11th. They issued an “equal weight” rating and a $69.31 target price for the company. Zacks Investment Research raised shares of Altria Group from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. Finally, Morgan Stanley lowered their price target on shares of Altria Group from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $71.01.

MO stock opened at $63.43 on Thursday. The company has a market capitalization of $112.11 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.69 and a beta of 0.62. Altria Group Inc has a 12 month low of $53.91 and a 12 month high of $74.38. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.83.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 26th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $1.00 by $0.01. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a net margin of 42.00% and a return on equity of 48.88%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 earnings per share. equities analysts anticipate that Altria Group Inc will post 4 EPS for the current fiscal year.

Altria Group announced that its Board of Directors has initiated a share buyback program on Thursday, May 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Friday, September 14th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $3.20 dividend on an annualized basis and a yield of 5.04%. This is a positive change from Altria Group’s previous quarterly dividend of $0.70. Altria Group’s dividend payout ratio (DPR) is 82.84%.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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