King Luther Capital Management Corp Sells 736 Shares of Altria Group Inc (MO)
King Luther Capital Management Corp cut its position in shares of Altria Group Inc (NYSE:MO) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,282 shares of the company’s stock after selling 736 shares during the quarter. King Luther Capital Management Corp’s holdings in Altria Group were worth $1,249,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors grew its holdings in Altria Group by 698.6% in the third quarter. Capital International Investors now owns 31,992,124 shares of the company’s stock valued at $1,929,445,000 after purchasing an additional 27,986,154 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Altria Group by 4,426.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,150,081 shares of the company’s stock valued at $469,000 after purchasing an additional 22,638,593 shares during the period. Bank of New York Mellon Corp grew its holdings in Altria Group by 82,381.0% in the third quarter. Bank of New York Mellon Corp now owns 22,356,466 shares of the company’s stock valued at $1,348,318,000 after purchasing an additional 22,329,361 shares during the period. Morgan Stanley grew its holdings in Altria Group by 20.0% in the third quarter. Morgan Stanley now owns 19,755,741 shares of the company’s stock valued at $1,191,471,000 after purchasing an additional 3,293,877 shares during the period. Finally, Independent Franchise Partners LLP grew its holdings in Altria Group by 19.7% in the third quarter. Independent Franchise Partners LLP now owns 14,933,862 shares of the company’s stock valued at $900,661,000 after purchasing an additional 2,460,564 shares during the period. Institutional investors and hedge funds own 64.27% of the company’s stock.
In other news, Director Nabil Y. Sakkab bought 1,032 shares of Altria Group stock in a transaction dated Thursday, February 21st. The shares were acquired at an average cost of $50.42 per share, with a total value of $52,033.44. Following the completion of the transaction, the director now owns 38,308 shares in the company, valued at approximately $1,931,489.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Ivan S. Feldman sold 6,802 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $51.18, for a total transaction of $348,126.36. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 31st. The company reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Altria Group had a net margin of 27.45% and a return on equity of 49.05%. During the same period in the previous year, the company posted $0.91 earnings per share. As a group, equities research analysts anticipate that Altria Group Inc will post 4.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, March 22nd. This represents a $3.20 dividend on an annualized basis and a yield of 5.72%. Altria Group’s dividend payout ratio (DPR) is 80.20%.
A number of equities research analysts recently issued reports on MO shares. Wells Fargo & Co lowered their target price on shares of Altria Group from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, November 26th. They noted that the move was a valuation call. Jefferies Financial Group set a $56.00 target price on shares of Altria Group and gave the company a “hold” rating in a report on Thursday, November 29th. Barclays started coverage on shares of Altria Group in a report on Friday, December 7th. They issued an “overweight” rating and a $64.00 target price for the company. 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 Tuesday, December 11th. Finally, Deutsche Bank lowered their target price on shares of Altria Group from $62.00 to $55.00 and set a “buy” rating for the company in a report on Friday, December 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $65.53.
Altria Group Company 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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