Platform Technology Partners Has $279,000 Holdings in Altria Group, Inc. (NYSE:MO)

Platform Technology Partners raised its holdings in Altria Group, Inc. (NYSE:MOFree Report) by 30.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,883 shares of the company’s stock after buying an additional 1,625 shares during the quarter. Platform Technology Partners’ holdings in Altria Group were worth $279,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its position in shares of Altria Group by 4,665.6% during the fourth quarter. Van ECK Associates Corp now owns 3,972,259 shares of the company’s stock worth $160,241,000 after purchasing an additional 3,888,907 shares during the period. AQR Capital Management LLC raised its position in Altria Group by 54.1% in the 3rd quarter. AQR Capital Management LLC now owns 4,710,670 shares of the company’s stock valued at $198,084,000 after buying an additional 1,653,455 shares during the last quarter. Pacer Advisors Inc. raised its position in Altria Group by 17.0% in 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 during the last quarter. International Assets Investment Management LLC purchased a new stake in Altria Group in the 4th quarter valued at $525,810,000. Finally, United Services Automobile Association raised its position in Altria Group by 103.9% in the 4th quarter. United Services Automobile Association now owns 1,803,226 shares of the company’s stock valued at $72,742,000 after buying an additional 919,058 shares during the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MO. UBS Group increased their price target on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research report on Monday, April 8th. StockNews.com downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Sunday, April 14th. Argus upgraded Altria Group to a “hold” rating in a research note on Friday, May 31st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective on shares of Altria Group in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.90.

Get Our Latest Analysis on Altria Group

Insider Activity at Altria Group

In related news, VP Charles N. Whitaker sold 22,487 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total transaction of $988,303.65. Following the transaction, the vice president now directly owns 173,485 shares of the company’s stock, valued at approximately $7,624,665.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

Altria Group Stock Performance

NYSE MO traded up $0.01 during trading hours on Friday, hitting $46.70. The company had a trading volume of 6,491,317 shares, compared to its average volume of 8,606,422. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $47.19. The firm has a 50 day simple moving average of $44.01 and a 200 day simple moving average of $42.32. The firm has a market capitalization of $80.21 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 2.88 and a beta of 0.64.

Altria Group (NYSE:MOGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.71 billion. During the same quarter last year, the firm posted $1.18 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. On average, research analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Dividend Announcement

The company 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. The ex-dividend date is Friday, June 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.39%. Altria Group’s dividend payout ratio is 82.01%.

About Altria Group

(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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