Altria Group Inc (MO) Shares Sold by Atalanta Sosnoff Capital LLC
Atalanta Sosnoff Capital LLC reduced its stake in shares of Altria Group Inc (NYSE:MO) by 80.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,818 shares of the company’s stock after selling 20,140 shares during the quarter. Atalanta Sosnoff Capital LLC’s holdings in Altria Group were worth $277,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Litman Gregory Asset Management LLC bought a new position in Altria Group in the fourth quarter valued at approximately $30,000. Clean Yield Group bought a new position in Altria Group in the fourth quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. boosted its stake in Altria Group by 627.6% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 713 shares of the company’s stock valued at $36,000 after acquiring an additional 615 shares during the last quarter. Clarfeld Financial Advisors LLC bought a new position in Altria Group in the fourth quarter valued at approximately $44,000. Finally, Sontag Advisory LLC bought a new position in Altria Group in the fourth quarter valued at approximately $50,000. 64.35% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Nabil Y. Sakkab acquired 1,032 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The shares were acquired at an average cost of $50.42 per share, for a total transaction of $52,033.44. Following the completion of the acquisition, the director now directly owns 38,308 shares in the company, valued at approximately $1,931,489.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ivan S. Feldman sold 6,802 shares of the firm’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. Company 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, hitting analysts’ consensus estimates of $0.95. The company 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 last year, the firm posted $0.91 earnings per share. As a group, equities analysts anticipate that Altria Group Inc will post 4.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, March 22nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.89%. Altria Group’s payout ratio is 80.20%.
A number of brokerages have recently weighed in on MO. TheStreet raised shares of Altria Group from a “c+” rating to a “b-” rating in a research report on Friday, March 29th. ValuEngine raised shares of Altria Group from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Morgan Stanley lifted their price target on shares of Altria Group from $45.00 to $49.00 and gave the stock an “underweight” rating in a research report on Monday, April 15th. Citigroup set a $52.00 price target on shares of Altria Group and gave the stock a “sell” rating in a research report on Thursday, March 28th. Finally, Zacks Investment Research raised shares of Altria Group from a “sell” rating to a “hold” rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $63.11.
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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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