Mcdonald Partners LLC Makes New Investment in Altria Group, Inc. (NYSE:MO)


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Mcdonald Partners LLC acquired a new position in shares of Altria Group, Inc. (NYSE:MO) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,082 shares of the company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Townsend & Associates Inc boosted its holdings in Altria Group by 7.0% in the first quarter. Townsend & Associates Inc now owns 62,236 shares of the company’s stock worth $3,184,000 after purchasing an additional 4,096 shares in the last quarter. First Midwest Bank Trust Division lifted its position in Altria Group by 36.1% during the 1st quarter. First Midwest Bank Trust Division now owns 26,158 shares of the company’s stock worth $1,338,000 after acquiring an additional 6,935 shares during the last quarter. Plimoth Trust Co. LLC lifted its position in Altria Group by 1.1% during the 1st quarter. Plimoth Trust Co. LLC now owns 19,240 shares of the company’s stock worth $984,000 after acquiring an additional 200 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new position in Altria Group during the 1st quarter worth $1,799,000. Finally, Shilanski & Associates Inc. raised its position in shares of Altria Group by 0.8% during the first quarter. Shilanski & Associates Inc. now owns 66,225 shares of the company’s stock valued at $3,388,000 after buying an additional 537 shares during the last quarter. Hedge funds and other institutional investors own 62.18% of the company’s stock.

Shares of NYSE MO opened at $47.19 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 8.59. The company has a market capitalization of $87.41 billion, a PE ratio of 131.09, a PEG ratio of 2.25 and a beta of 0.54. The stock’s 50 day moving average price is $49.83 and its 200-day moving average price is $43.24. Altria Group, Inc. has a twelve month low of $35.02 and a twelve month high of $52.59.

Altria Group (NYSE:MO) last released its quarterly earnings results on Wednesday, January 27th. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.03). Altria Group had a return on equity of 148.93% and a net margin of 2.84%. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.95 billion. During the same period in the previous year, the company posted $1.02 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts expect that Altria Group, Inc. will post 4.37 EPS for the current fiscal year.

Altria Group declared that its Board of Directors has approved a share repurchase plan on Thursday, January 28th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Thursday, March 25th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Wednesday, March 24th. This represents a $3.44 dividend on an annualized basis and a yield of 7.29%. Altria Group’s dividend payout ratio is presently 81.52%.

A number of brokerages have recently commented on MO. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Altria Group from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, March 19th. Piper Sandler reissued a “buy” rating and issued a $57.00 target price on shares of Altria Group in a research note on Monday, April 5th. Royal Bank of Canada reissued a “buy” rating on shares of Altria Group in a research note on Sunday, January 31st. Sanford C. Bernstein assumed coverage on shares of Altria Group in a report on Tuesday, January 19th. They set an “outperform” rating and a $53.00 price objective for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $56.00 price objective on shares of Altria Group in a research report on Friday, April 16th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $50.30.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, oral tobacco products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars 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.

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

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