Chase Investment Counsel Corp Purchases Shares of 3,695 Altria Group Inc (MO)
Chase Investment Counsel Corp purchased a new position in shares of Altria Group Inc (NYSE:MO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,695 shares of the company’s stock, valued at approximately $234,000.
Other institutional investors also recently added to or reduced their stakes in the company. Solaris Asset Management LLC raised its position in shares of Altria Group by 65.7% in the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after purchasing an additional 557 shares in the last quarter. CKW Financial Group acquired a new position in shares of Altria Group in the 2nd quarter valued at approximately $109,000. Balentine LLC raised its position in shares of Altria Group by 32.4% in the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after purchasing an additional 357 shares in the last quarter. Northwest Investment Counselors LLC raised its position in shares of Altria Group by 557.0% in the 3rd quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock valued at $115,000 after purchasing an additional 1,543 shares in the last quarter. Finally, INR Advisory Services LLC acquired a new position in shares of Altria Group in the 2nd quarter valued at approximately $134,000. 62.64% of the stock is currently owned by hedge funds and other institutional investors.
MO has been the topic of a number of recent analyst reports. Jefferies Group set a $72.00 target price on Altria Group and gave the company a “hold” rating in a research report on Friday, November 17th. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.65 price target for the company. in a report on Monday, November 13th. Zacks Investment Research downgraded Altria Group from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 price target on shares of Altria Group in a report on Friday, October 27th. Finally, Edward Jones upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $72.87.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.03. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 EPS. sell-side analysts predict that Altria Group Inc will post 3.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Thursday, December 21st will be paid a dividend of $0.66 per share. The ex-dividend date is Wednesday, December 20th. This represents a $2.64 dividend on an annualized basis and a yield of 3.75%. Altria Group’s payout ratio is currently 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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