Dover Advisors LLC Buys 7,927 Shares of Altria Group, Inc. $MO

Dover Advisors LLC lifted its stake in Altria Group, Inc. (NYSE:MO) by 147.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,304 shares of the company’s stock after purchasing an additional 7,927 shares during the quarter. Dover Advisors LLC’s holdings in Altria Group were worth $893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MO. Brighton Jones LLC increased its position in shares of Altria Group by 64.7% during the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after acquiring an additional 6,954 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Altria Group by 86.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 6,361 shares of the company’s stock worth $373,000 after purchasing an additional 2,946 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in shares of Altria Group by 6.9% in the second quarter. Schnieders Capital Management LLC. now owns 9,630 shares of the company’s stock worth $565,000 after purchasing an additional 618 shares during the last quarter. Ethic Inc. lifted its holdings in shares of Altria Group by 8.9% during the second quarter. Ethic Inc. now owns 39,760 shares of the company’s stock valued at $2,336,000 after purchasing an additional 3,240 shares in the last quarter. Finally, Freedom Investment Management Inc. purchased a new stake in shares of Altria Group during the second quarter valued at $209,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Trading Down 0.7%

MO opened at $67.49 on Friday. The company’s 50 day moving average is $61.29 and its 200 day moving average is $62.38. The company has a market cap of $113.30 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.69 and a beta of 0.47. Altria Group, Inc. has a 12-month low of $52.82 and a 12-month high of $68.60.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group declared that its board has approved a stock repurchase program on Thursday, October 30th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a dividend of $1.06 per share. The ex-dividend date was Friday, December 26th. This represents a $4.24 annualized dividend and a yield of 6.3%. Altria Group’s payout ratio is 103.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Stifel Nicolaus decreased their target price on Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Argus raised shares of Altria Group to a “hold” rating in a report on Tuesday, January 13th. Citigroup increased their price objective on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Finally, UBS Group lifted their target price on shares of Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.67.

About Altria Group

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.