Cigna Investments Inc. New grew its stake in Altria Group Inc (NYSE:MO) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,684 shares of the company’s stock after purchasing an additional 3,200 shares during the period. Cigna Investments Inc. New’s holdings in Altria Group were worth $2,036,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Amalgamated Bank boosted its stake in shares of Altria Group by 6.3% in the 4th quarter. Amalgamated Bank now owns 303,198 shares of the company’s stock valued at $15,133,000 after purchasing an additional 18,026 shares in the last quarter. Cannell Peter B & Co. Inc. boosted its position in Altria Group by 0.5% during the 4th quarter. Cannell Peter B & Co. Inc. now owns 43,612 shares of the company’s stock worth $2,177,000 after buying an additional 223 shares during the period. Capital Square LLC acquired a new stake in Altria Group during the 4th quarter worth approximately $2,952,000. Brighton Jones LLC boosted its position in Altria Group by 35.8% during the 4th quarter. Brighton Jones LLC now owns 18,964 shares of the company’s stock worth $946,000 after buying an additional 5,000 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new stake in Altria Group during the 4th quarter worth approximately $4,429,000. Institutional investors own 63.50% of the company’s stock.
Several equities research analysts recently commented on MO shares. Panmure Gordon upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Friday, April 3rd. Goldman Sachs Group assumed coverage on shares of Altria Group in a research report on Wednesday, April 1st. They set a “neutral” rating and a $35.00 target price on the stock. Bank of America dropped their price target on shares of Altria Group from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. ValuEngine downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Finally, Citigroup dropped their price target on shares of Altria Group from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. Altria Group has an average rating of “Buy” and a consensus target price of $50.79.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.11. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.51 billion. Altria Group had a negative net margin of 3.33% and a positive return on equity of 84.55%. Altria Group’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 EPS. Research analysts expect that Altria Group Inc will post 4.26 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, June 12th. This represents a $3.36 dividend on an annualized basis and a yield of 8.91%. Altria Group’s dividend payout ratio (DPR) is presently 79.62%.
Altria Group 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.
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