International Assets Investment Management LLC Invests $3.95 Million in Altria Group, Inc. (NYSE:MO)

International Assets Investment Management LLC acquired a new stake in Altria Group, Inc. (NYSE:MO) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 97,791 shares of the company’s stock, valued at approximately $3,945,000.

Several other institutional investors also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in shares of Altria Group in the third quarter valued at about $26,000. Nemes Rush Group LLC raised its stake in shares of Altria Group by 103.2% during the 3rd quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock worth $27,000 after buying an additional 323 shares in the last quarter. ZRC Wealth Management LLC raised its stake in shares of Altria Group by 67.6% during the 4th quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after buying an additional 273 shares in the last quarter. Financial Gravity Asset Management Inc. lifted its holdings in shares of Altria Group by 1,800.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the company’s stock valued at $30,000 after buying an additional 666 shares during the period. Finally, Fortis Group Advisors LLC purchased a new stake in shares of Altria Group in the third quarter valued at approximately $30,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Charles N. Whitaker sold 22,487 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total value 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 filing with the SEC, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

Altria Group Price Performance

NYSE:MO opened at $44.71 on Friday. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $46.46. The business’s 50-day moving average is $42.69 and its two-hundred day moving average is $41.52. The firm has a market capitalization of $76.80 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 2.66 and a beta of 0.66.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, April 25th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 earnings per share. Equities analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group declared that its board has initiated a share buyback program on Thursday, February 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 8.77%. Altria Group’s dividend payout ratio (DPR) is 82.01%.

Analyst Ratings Changes

MO has been the subject of a number of research analyst reports. UBS Group increased their price target on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a report on Monday, April 8th. StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $50.00 target price on shares of Altria Group in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Altria Group has a consensus rating of “Hold” and an average target price of $46.90.

Altria Group Company Profile

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.