Redwood Investment Management LLC Buys New Holdings in Altria (MO)

Redwood Investment Management LLC bought a new stake in Altria (NYSE:MO) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,599 shares of the company’s stock, valued at approximately $224,000.

Other large investors have also made changes to their positions in the company. Oak Point Wealth Management acquired a new position in Altria during the fourth quarter worth about $120,000. Taylor Hoffman Wealth Management acquired a new position in Altria during the fourth quarter worth about $120,000. Smart Portfolios LLC acquired a new position in Altria during the first quarter worth about $129,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Altria during the fourth quarter worth about $134,000. Finally, Acropolis Investment Management LLC grew its position in Altria by 1,202.0% during the fourth quarter. Acropolis Investment Management LLC now owns 1,953 shares of the company’s stock worth $139,000 after buying an additional 1,803 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

Shares of Altria opened at $55.63 on Friday, according to Marketbeat Ratings. Altria has a 1 year low of $53.91 and a 1 year high of $77.79. The company has a market cap of $105.78 billion, a P/E ratio of 16.46, a PEG ratio of 1.63 and a beta of 0.63. The company has a current ratio of 0.65, a quick ratio of 0.34 and a debt-to-equity ratio of 0.85.

Altria (NYSE:MO) last announced its earnings results on Thursday, April 26th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.02. Altria had a net margin of 41.85% and a return on equity of 49.92%. The firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter last year, the business earned $0.73 earnings per share. Altria’s revenue was up 1.8% compared to the same quarter last year. sell-side analysts anticipate that Altria will post 4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 10th. Investors of record on Friday, June 15th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $2.80 dividend on an annualized basis and a yield of 5.03%. Altria’s dividend payout ratio (DPR) is currently 82.84%.

Altria declared that its board has authorized a share buyback program on Thursday, February 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

MO has been the topic of several research reports. Jefferies Group reiterated a “buy” rating and issued a $84.00 price target on shares of Altria in a research report on Thursday, March 15th. Vetr upgraded shares of Altria from a “sell” rating to a “hold” rating and set a $71.45 price target on the stock in a research report on Friday, January 26th. Zacks Investment Research upgraded shares of Altria from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Tuesday, February 6th. Piper Jaffray Companies increased their price target on shares of Altria from $76.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Finally, Citigroup lowered shares of Altria from a “buy” rating to a “neutral” rating and set a $75.00 price target on the stock. in a research report on Wednesday, April 18th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Altria has an average rating of “Buy” and an average target price of $73.42.

In other news, Director Mark Newman bought 5,345 shares of the firm’s stock in a transaction that occurred on Monday, April 30th. The shares were purchased at an average price of $56.19 per share, for a total transaction of $300,335.55. Following the completion of the transaction, the director now owns 6,022 shares in the company, valued at $338,376.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian W. Quigley sold 3,464 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $62.40, for a total transaction of $216,153.60. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

Altria 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.

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Institutional Ownership by Quarter for Altria (NYSE:MO)

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