Altria Group, Inc. (NYSE:MO) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB grew its position in shares of Altria Group, Inc. (NYSE:MOFree Report) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,027,886 shares of the company’s stock after acquiring an additional 16,541 shares during the quarter. Nordea Investment Management AB’s holdings in Altria Group were worth $44,960,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sei Investments Co. boosted its position in shares of Altria Group by 6.1% in the third quarter. Sei Investments Co. now owns 708,123 shares of the company’s stock worth $29,777,000 after buying an additional 40,646 shares during the period. Schroder Investment Management Group raised its stake in shares of Altria Group by 43.7% during the third quarter. Schroder Investment Management Group now owns 592,417 shares of the company’s stock valued at $24,911,000 after purchasing an additional 180,267 shares during the period. Baker Avenue Asset Management LP lifted its position in shares of Altria Group by 71.4% during the third quarter. Baker Avenue Asset Management LP now owns 3,404 shares of the company’s stock worth $143,000 after purchasing an additional 1,418 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Altria Group by 5.5% in the third quarter. The Manufacturers Life Insurance Company now owns 1,383,464 shares of the company’s stock valued at $58,175,000 after purchasing an additional 72,651 shares during the period. Finally, Integrated Wealth Concepts LLC grew its holdings in Altria Group by 21.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 74,269 shares of the company’s stock valued at $3,123,000 after purchasing an additional 12,986 shares in the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MO has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a report on Monday, April 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 target price on shares of Altria Group in a research report on Monday, March 25th. Argus upgraded shares of Altria Group to a “hold” rating in a research note on Friday, May 31st. Finally, StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.90.

Check Out Our Latest Analysis on Altria Group

Altria Group Price Performance

Shares of MO opened at $46.01 on Tuesday. The stock has a market capitalization of $79.03 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 2.80 and a beta of 0.66. The business’s fifty day moving average price is $45.53 and its 200 day moving average price is $42.94. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $47.19.

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

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.52%. The ex-dividend date is Friday, June 14th. Altria Group’s payout ratio is 82.01%.

Insider Buying and Selling

In other Altria Group news, VP Charles N. Whitaker sold 22,487 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total value of $988,303.65. Following 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 Securities & Exchange Commission, which is available through this link. Company insiders own 0.09% of the company’s stock.

Altria Group Company Profile

(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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