Douglas Lane & Associates LLC Trims Holdings in Altria Group Inc (MO)
Douglas Lane & Associates LLC reduced its position in shares of Altria Group Inc (NYSE:MO) by 24.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,043 shares of the company’s stock after selling 3,296 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Altria Group were worth $637,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MO. Sterling Investment Advisors Ltd. increased its holdings in shares of Altria Group by 133.3% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after acquiring an additional 800 shares during the period. Solaris Asset Management LLC increased its holdings 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 acquiring an additional 557 shares during the period. CKW Financial Group purchased a new position in shares of Altria Group in the 2nd quarter valued at $109,000. Balentine LLC increased its holdings 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 acquiring an additional 357 shares during the period. Finally, INR Advisory Services LLC purchased a new position in shares of Altria Group in the 2nd quarter valued at $134,000. Institutional investors own 62.62% of the company’s stock.
Shares of Altria Group Inc (MO) opened at $72.60 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. The firm has a market capitalization of $138,530.00, a price-to-earnings ratio of 22.99, a PEG ratio of 2.97 and a beta of 0.62. Altria Group Inc has a 52-week low of $60.01 and a 52-week high of $77.79.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st will be given a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.64%. Altria Group’s payout ratio is 33.00%.
A number of research analysts have recently issued reports on MO shares. BidaskClub downgraded Altria Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price target on the stock in a report on Tuesday, October 24th. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Wednesday, October 11th. Citigroup cut their price target on Altria Group from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, October 30th. Finally, Cowen raised Altria Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $64.00 to $71.00 in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $72.57.
Altria Group Company 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.
Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group Inc (NYSE:MO).
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.