Bank of Nova Scotia Purchases 215,155 Shares of Altria Group, Inc. $MO

Bank of Nova Scotia boosted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 55.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 601,918 shares of the company’s stock after acquiring an additional 215,155 shares during the quarter. Bank of Nova Scotia’s holdings in Altria Group were worth $39,763,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Altria Group by 64.7% during the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock worth $926,000 after purchasing an additional 6,954 shares during the last quarter. Sivia Capital Partners LLC lifted its stake 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 valued at $373,000 after purchasing an additional 2,946 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in 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 in the last quarter. Empower Advisory Group LLC boosted its holdings in Altria Group by 10.9% in the second quarter. Empower Advisory Group LLC now owns 10,180 shares of the company’s stock worth $597,000 after purchasing an additional 1,001 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Altria Group by 6.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 413,121 shares of the company’s stock worth $24,221,000 after buying an additional 25,539 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MO shares. Barclays raised their target price on Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. Citigroup increased their price objective on Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Argus raised Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Stifel Nicolaus reduced their target price on Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a report on Friday, January 30th. Finally, UBS Group upped their target price on Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and an average target price of $65.11.

Altria Group Trading Up 0.3%

Shares of NYSE:MO opened at $67.96 on Monday. The firm has a market capitalization of $113.62 billion, a PE ratio of 16.53, a PEG ratio of 2.90 and a beta of 0.45. Altria Group, Inc. has a 1-year low of $52.82 and a 1-year high of $70.51. The business’s 50 day moving average is $64.21 and its 200-day moving average is $62.58.

Altria Group (NYSE:MO) last issued 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). Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. Altria Group’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $1.30 earnings per share. On average, sell-side analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be paid a $1.06 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.2%. Altria Group’s dividend payout ratio is currently 103.16%.

Insider Activity at Altria Group

In other news, SVP Charles N. Whitaker sold 27,908 shares of Altria Group stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the sale, the senior vice president directly owned 180,869 shares in the company, valued at approximately $12,221,318.33. The trade was a 13.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.08% of the company’s stock.

Altria Group Company Profile

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.