Tuttle Tactical Management LLC raised its stake in Altria Group (NYSE:MO) by 85.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,948 shares of the company’s stock after acquiring an additional 6,435 shares during the quarter. Altria Group comprises 0.9% of Tuttle Tactical Management LLC’s holdings, making the stock its 18th largest position. Tuttle Tactical Management LLC’s holdings in Altria Group were worth $1,183,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Cadinha & Co. LLC raised its holdings in Altria Group by 34.8% in the 2nd quarter. Cadinha & Co. LLC now owns 9,301 shares of the company’s stock valued at $693,000 after acquiring an additional 2,401 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its holdings in shares of Altria Group by 164.9% during the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 244,398 shares of the company’s stock worth $18,149,000 after purchasing an additional 152,121 shares during the period. LMR Partners LLP bought a new position in shares of Altria Group during the second quarter worth approximately $1,120,000. Teacher Retirement System of Texas increased its holdings in shares of Altria Group by 4.6% during the second quarter. Teacher Retirement System of Texas now owns 1,763,350 shares of the company’s stock worth $131,317,000 after purchasing an additional 76,988 shares during the period. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Altria Group by 10.3% during the first quarter. Westwood Holdings Group Inc. now owns 155,121 shares of the company’s stock worth $11,079,000 after purchasing an additional 14,444 shares during the period. 62.70% of the stock is currently owned by hedge funds and other institutional investors.
In other Altria Group news, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total value of $1,959,040.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.
Altria Group (NYSE:MO) traded up $1.48 during midday trading on Wednesday, hitting $71.66. 9,713,258 shares of the company traded hands, compared to its average volume of 6,807,521. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. The firm has a market cap of $133,725.95, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 2.86 and a beta of 0.62. Altria Group has a twelve month low of $60.01 and a twelve month high of $77.79.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the business posted $0.82 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. equities research analysts predict that Altria Group will post 3.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st will be given a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $2.64 dividend on an annualized basis and a yield of 3.68%. Altria Group’s dividend payout ratio is currently 33.04%.
Several research analysts have recently commented on the stock. Berenberg Bank reaffirmed a “hold” rating on shares of Altria Group in a report on Tuesday, October 31st. UBS lowered their target price on shares of Altria Group from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Cowen reaffirmed a “hold” rating on shares of Altria Group in a report on Sunday, September 10th. Vetr raised shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 target price on the stock in a report on Tuesday, October 24th. Finally, Citigroup lowered their target price on shares of Altria Group from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $72.90.
About Altria Group
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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