Altria Group Inc (MO) Shares Bought by Pinnacle Financial Partners Inc.
Pinnacle Financial Partners Inc. increased its stake in Altria Group Inc (NYSE:MO) by 14.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,584 shares of the company’s stock after purchasing an additional 10,332 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Altria Group were worth $5,237,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Atria Investments LLC grew its position in Altria Group by 1.8% during the second quarter. Atria Investments LLC now owns 81,057 shares of the company’s stock valued at $6,036,000 after acquiring an additional 1,461 shares during the last quarter. Pure Financial Advisors Inc. grew its position in Altria Group by 16.0% during the second quarter. Pure Financial Advisors Inc. now owns 3,722 shares of the company’s stock valued at $277,000 after acquiring an additional 513 shares during the last quarter. Confluence Investment Management LLC grew its position in Altria Group by 40.2% during the second quarter. Confluence Investment Management LLC now owns 6,715 shares of the company’s stock valued at $500,000 after acquiring an additional 1,926 shares during the last quarter. Bank of Montreal Can grew its position in Altria Group by 11.4% during the second quarter. Bank of Montreal Can now owns 2,136,913 shares of the company’s stock valued at $159,136,000 after acquiring an additional 219,267 shares during the last quarter. Finally, M. Kraus & Co bought a new position in Altria Group during the second quarter valued at approximately $206,000. Institutional investors own 62.64% of the company’s stock.
A number of brokerages have commented on MO. Berenberg Bank upgraded shares of Altria Group from a “hold” rating to a “buy” rating and increased their price target for the company from $60.01 to $71.00 in a research report on Tuesday, December 19th. Vetr cut shares of Altria Group from a “hold” rating to a “sell” rating and set a $67.97 price target on the stock. in a research report on Monday, December 11th. Zacks Investment Research lowered Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Wells Fargo & Co increased their price objective on Altria Group from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Finally, Jefferies Group raised Altria Group from a “hold” rating to a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Altria Group currently has a consensus rating of “Buy” and an average price target of $72.87.
Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. sell-side analysts forecast that Altria Group Inc will post 3.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Thursday, December 21st were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Wednesday, December 20th. Altria Group’s payout ratio is 33.00%.
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Altria Group Profile
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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