Northeast Financial Group Inc. Increases Position in Altria Group, Inc. (NYSE:MO)

Northeast Financial Group Inc. lifted its position in shares of Altria Group, Inc. (NYSE:MOFree Report) by 5.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,133 shares of the company’s stock after buying an additional 326 shares during the quarter. Northeast Financial Group Inc.’s holdings in Altria Group were worth $247,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in Altria Group by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 44,456,064 shares of the company’s stock valued at $1,857,271,000 after acquiring an additional 840,559 shares during the last quarter. Northern Trust Corp lifted its position in shares of Altria Group by 0.3% in the third quarter. Northern Trust Corp now owns 16,609,568 shares of the company’s stock worth $698,432,000 after buying an additional 42,490 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Altria Group by 17.0% during the 4th quarter. Pacer Advisors Inc. now owns 9,259,451 shares of the company’s stock valued at $373,526,000 after buying an additional 1,343,094 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Altria Group by 8.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 9,174,355 shares of the company’s stock valued at $381,278,000 after buying an additional 722,258 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Altria Group by 19.1% during the 3rd quarter. Barclays PLC now owns 6,464,930 shares of the company’s stock worth $271,850,000 after acquiring an additional 1,038,408 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MO shares. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 target price on shares of Altria Group in a report on Monday, March 25th. UBS Group boosted their target price on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a report on Monday, April 8th. Finally, StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Sunday, April 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $46.90.

Get Our Latest Report on Altria Group

Insider Buying and Selling at Altria Group

In other news, VP Charles N. Whitaker sold 22,487 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total transaction of $988,303.65. Following the completion of the sale, the vice president now directly owns 173,485 shares of the company’s stock, valued at $7,624,665.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Altria Group Stock Performance

NYSE MO traded up $0.13 on Friday, hitting $46.08. 9,243,539 shares of the stock were exchanged, compared to its average volume of 11,468,400. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $46.34. The firm has a market capitalization of $79.15 billion, a P/E ratio of 9.64, a P/E/G ratio of 2.80 and a beta of 0.66. The stock has a fifty day moving average price of $43.32 and a two-hundred day moving average price of $41.73.

Altria Group (NYSE:MOGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same period in the previous year, the company earned $1.18 EPS. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. Sell-side analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 8.51%. The ex-dividend date of this dividend is Friday, June 14th. Altria Group’s payout ratio is currently 82.01%.

Altria Group declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Altria Group Company Profile

(Free Report)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.

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

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