Colonial River Wealth Management LLC Raises Stock Holdings in Altria Group, Inc. (NYSE:MO)

Colonial River Wealth Management LLC raised its stake in Altria Group, Inc. (NYSE:MOFree Report) by 23.8% during the fourth quarter, HoldingsChannel reports. The fund owned 36,234 shares of the company’s stock after buying an additional 6,961 shares during the period. Colonial River Wealth Management LLC’s holdings in Altria Group were worth $1,462,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Loomis Sayles & Co. L P purchased a new stake in shares of Altria Group in the first quarter worth $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Altria Group during the third quarter valued at $26,000. Nemes Rush Group LLC boosted its position in shares of Altria Group by 103.2% during the third quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock valued at $27,000 after buying an additional 323 shares during the last quarter. ZRC Wealth Management LLC lifted its holdings in Altria Group by 67.6% in the fourth quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock valued at $28,000 after acquiring an additional 273 shares during the period. Finally, Financial Gravity Asset Management Inc. lifted its holdings in Altria Group by 1,800.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the company’s stock valued at $30,000 after acquiring an additional 666 shares during the period. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Performance

Shares of NYSE MO traded down $0.29 during trading on Tuesday, hitting $42.93. The company had a trading volume of 10,026,104 shares, compared to its average volume of 11,786,752. The stock has a 50 day simple moving average of $41.59 and a 200 day simple moving average of $41.50. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $48.04. The firm has a market capitalization of $75.71 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 2.63 and a beta of 0.65.

Altria Group (NYSE:MOGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.17 by $0.01. Altria Group had a negative return on equity of 244.55% and a net margin of 33.21%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter last year, the company earned $1.18 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, analysts predict that Altria Group, Inc. will post 5.08 EPS for the current year.

Altria Group announced that its board has initiated a stock repurchase program on Thursday, February 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 9.13%. The ex-dividend date of this dividend is Friday, March 22nd. Altria Group’s dividend payout ratio is currently 85.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MO shares. UBS Group reissued a “sell” rating and issued a $36.10 target price on shares of Altria Group in a report on Tuesday, January 23rd. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Altria Group in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.82.

Get Our Latest Stock Report on MO

Altria Group Profile

(Free Report)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.

Further Reading

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

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