Altria Group, Inc. (NYSE:MO) Shares Acquired by Sanders Morris Harris LLC
Sanders Morris Harris LLC lifted its stake in shares of Altria Group, Inc. (NYSE:MO) by 11.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 92,018 shares of the company’s stock after buying an additional 9,712 shares during the quarter. Altria Group makes up approximately 1.0% of Sanders Morris Harris LLC’s portfolio, making the stock its 21st biggest position. Sanders Morris Harris LLC’s holdings in Altria Group were worth $3,565,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in MO. Public Employees Retirement Association of Colorado boosted its holdings in Altria Group by 3.0% in the first quarter. Public Employees Retirement Association of Colorado now owns 353,576 shares of the company’s stock valued at $13,673,000 after purchasing an additional 10,260 shares in the last quarter. United Capital Financial Advisers LLC boosted its holdings in Altria Group by 3.2% in the first quarter. United Capital Financial Advisers LLC now owns 161,466 shares of the company’s stock valued at $5,228,000 after purchasing an additional 4,948 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in Altria Group in the first quarter valued at approximately $387,000. Morgan Stanley lifted its stake in Altria Group by 10.5% in the first quarter. Morgan Stanley now owns 7,158,518 shares of the company’s stock valued at $276,821,000 after buying an additional 682,834 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in Altria Group by 150.9% in the first quarter. Schroder Investment Management Group now owns 1,922,874 shares of the company’s stock valued at $71,685,000 after buying an additional 1,156,366 shares during the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on MO shares. Barclays cut Altria Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $50.00 to $43.00 in a research note on Wednesday, July 8th. ValuEngine cut Altria Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 6th. Citigroup boosted their price objective on Altria Group from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Altria Group from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Piper Sandler reiterated a “buy” rating and issued a $57.00 price objective on shares of Altria Group in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Altria Group currently has a consensus rating of “Buy” and a consensus price target of $49.67.
Altria Group (NYSE:MO) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The business had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Altria Group had a positive return on equity of 109.11% and a negative net margin of 3.57%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 earnings per share. As a group, research analysts anticipate that Altria Group, Inc. will post 4.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Tuesday, September 15th were given a $0.86 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, September 14th. This represents a $3.44 annualized dividend and a yield of 8.70%. Altria Group’s dividend payout ratio is presently 81.52%.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless 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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