Altria Group Inc (MO) Position Raised by Doyle Wealth Management
Doyle Wealth Management increased its holdings in Altria Group Inc (NYSE:MO) by 47.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,326 shares of the company’s stock after buying an additional 3,346 shares during the period. Doyle Wealth Management’s holdings in Altria Group were worth $655,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Sterling Investment Advisors Ltd. increased its stake in Altria Group by 133.3% in the first 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 last quarter. Solaris Asset Management LLC increased its stake in Altria Group by 65.7% in the second 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 last quarter. CKW Financial Group bought a new position in Altria Group in the second quarter valued at $109,000. Balentine LLC increased its stake in Altria Group by 32.4% in the second 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 last quarter. Finally, INR Advisory Services LLC bought a new position in Altria Group in the second quarter valued at $134,000. Institutional investors own 62.62% of the company’s stock.
A number of research firms recently commented on MO. Berenberg Bank reissued a “hold” rating on shares of Altria Group in a research note on Tuesday, October 31st. Vetr cut Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.89 target price on the stock. in a research note on Monday, October 30th. Royal Bank of Canada reissued a “hold” rating and issued a $62.00 target price on shares of Altria Group in a research note on Tuesday, October 3rd. Cowen raised Altria Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $64.00 to $71.00 in a research note on Tuesday, September 26th. Finally, Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research note on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $72.57.
Altria Group Inc (MO) opened at $72.14 on Tuesday. Altria Group Inc has a 12 month low of $60.01 and a 12 month high of $77.79. The stock has a market capitalization of $137,660.00, a PE ratio of 9.02, a PEG ratio of 2.94 and a beta of 0.62. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.48 and a current ratio of 0.77.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.03. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. sell-side analysts anticipate that Altria Group Inc will post 3.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st will be paid a dividend of $0.66 per share. The ex-dividend date is Wednesday, December 20th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.66%. Altria Group’s dividend payout ratio (DPR) is currently 33.00%.
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Altria Group 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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