Los Angeles Capital Management LLC Buys 437,120 Shares of Altria Group, Inc. (NYSE:MO)

Los Angeles Capital Management LLC grew its stake in shares of Altria Group, Inc. (NYSE:MOGet Rating) by 2,377.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 455,504 shares of the company’s stock after buying an additional 437,120 shares during the period. Los Angeles Capital Management LLC’s holdings in Altria Group were worth $23,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in shares of Altria Group in the fourth quarter valued at $54,000. Everett Harris & Co. CA grew its holdings in shares of Altria Group by 7.1% in the fourth quarter. Everett Harris & Co. CA now owns 28,648 shares of the company’s stock valued at $1,358,000 after purchasing an additional 1,898 shares in the last quarter. Valmark Advisers Inc. boosted its stake in Altria Group by 17.2% during the fourth quarter. Valmark Advisers Inc. now owns 29,355 shares of the company’s stock worth $1,391,000 after buying an additional 4,311 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Altria Group by 0.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,942,241 shares of the company’s stock worth $234,213,000 after buying an additional 16,144 shares during the period. Finally, Kehrs Ridge Capital LLC purchased a new position in Altria Group during the fourth quarter worth $11,848,000. Institutional investors own 59.05% of the company’s stock.

Altria Group Trading Down 0.3 %

Shares of MO opened at $44.10 on Friday. The firm has a market capitalization of $79.42 billion, a P/E ratio of 45.46, a P/E/G ratio of 2.28 and a beta of 0.62. Altria Group, Inc. has a 12-month low of $41.00 and a 12-month high of $57.05. The firm has a fifty day moving average price of $45.15 and a 200-day moving average price of $49.97.

Altria Group (NYSE:MOGet Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.42 billion. Altria Group had a negative return on equity of 488.86% and a net margin of 6.88%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. Analysts predict that Altria Group, Inc. will post 4.86 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Wednesday, June 15th were issued a $0.90 dividend. The ex-dividend date was Tuesday, June 14th. This represents a $3.60 annualized dividend and a dividend yield of 8.16%. Altria Group’s payout ratio is currently 371.13%.

Analyst Upgrades and Downgrades

Several research firms have commented on MO. Barclays lowered shares of Altria Group from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $53.00 to $36.00 in a research note on Wednesday, June 29th. Cowen dropped their price objective on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, June 27th. Bank of America dropped their price objective on shares of Altria Group from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, July 8th. Cowen dropped their price objective on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, June 27th. Finally, StockNews.com lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $47.00.

Altria Group Company Profile

(Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

Further Reading

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

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