Exencial Wealth Advisors LLC Lowers Holdings in Altria Group Inc (MO)
Exencial Wealth Advisors LLC lowered its position in shares of Altria Group Inc (NYSE:MO) by 3.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 21,791 shares of the company’s stock after selling 867 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in Altria Group were worth $1,382,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Solaris Asset Management LLC lifted its position in Altria Group by 65.7% during the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after acquiring an additional 557 shares during the period. CKW Financial Group acquired a new stake in Altria Group during the 2nd quarter worth about $109,000. NewSquare Capital LLC lifted its position in Altria Group by 4,734.7% during the 3rd quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after acquiring an additional 106,530 shares during the period. Balentine LLC lifted its position in Altria Group by 32.4% during the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after acquiring an additional 357 shares during the period. Finally, Northwest Investment Counselors LLC lifted its position in Altria Group by 557.0% during the 3rd quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock worth $115,000 after acquiring an additional 1,543 shares during the period. 62.64% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on MO shares. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price objective for the company in a report on Tuesday, October 24th. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Wednesday, October 11th. Citigroup decreased their price objective on Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, October 30th. Cowen raised Altria Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $64.00 to $71.00 in a report on Tuesday, September 26th. Finally, Jefferies Group set a $72.00 price objective on Altria Group and gave the company a “hold” rating in a report on Friday, November 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $72.87.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. Altria Group’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 EPS. sell-side analysts expect that Altria Group Inc will post 3.28 earnings per share 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 issued a $0.66 dividend. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $2.64 dividend on an annualized basis and a yield of 3.76%. Altria Group’s payout ratio is 33.04%.
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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.
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