Advisors Capital Management LLC Acquires 35,876 Shares of Altria Group, Inc. $MO

Key Points

• Advisors Capital Management LLC raised its stake in Altria by 7.5%, buying 35,876 shares to hold 516,149 shares valued at about $29.76 million at quarter-end.
• Altria declared a quarterly dividend of $1.06 per share (annualized $4.24), implying a 6.3% yield; the ex-dividend date is March 25 and the payout ratio is 103.16%.
• Altria reported Q4 EPS of $1.30, missing estimates by $0.02 while revenue was $5.08 billion, and Wall Street’s consensus rating is an average "Hold" with a target price of $65.88.

Advisors Capital Management LLC lifted its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 7.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 516,149 shares of the company's stock after purchasing an additional 35,876 shares during the period. Advisors Capital Management LLC's holdings in Altria Group were worth $29,761,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Golden State Equity Partners raised its stake in Altria Group by 31.5% during the 4th quarter. Golden State Equity Partners now owns 17,910 shares of the company's stock worth $1,033,000 after acquiring an additional 4,295 shares during the period. Brindle & Bay Financial Advisors LLC purchased a new position in Altria Group during the fourth quarter valued at approximately $728,000. Richard C. Young & CO. LTD. boosted its position in shares of Altria Group by 3.4% in the fourth quarter. Richard C. Young & CO. LTD. now owns 295,349 shares of the company's stock worth $17,030,000 after purchasing an additional 9,633 shares during the period. Vanguard Group Inc. boosted its position in shares of Altria Group by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 160,980,626 shares of the company's stock worth $9,282,143,000 after purchasing an additional 1,903,530 shares during the period. Finally, Dunhill Financial LLC increased its stake in shares of Altria Group by 16.8% in the fourth quarter. Dunhill Financial LLC now owns 1,989 shares of the company's stock worth $115,000 after purchasing an additional 286 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Price Performance

Altria Group stock opened at $66.86 on Friday. Altria Group, Inc. has a 1 year low of $54.70 and a 1 year high of $70.51. The firm's 50 day moving average price is $66.58 and its 200-day moving average price is $62.58. The stock has a market cap of $111.74 billion, a P/E ratio of 16.27, a PEG ratio of 2.69 and a beta of 0.41.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.32 by ($0.02). The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.Altria Group's revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 EPS. As a group, equities analysts expect that Altria Group, Inc. will post 5.61 EPS for the current year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group's dividend payout ratio is 103.16%.

Insider Buying and Selling at Altria Group

In other news, SVP Charles N. Whitaker sold 27,908 shares of the firm's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the completion of the transaction, the senior vice president owned 180,869 shares in the company, valued at $12,221,318.33. This trade represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MO shares. UBS Group raised their price objective on shares of Altria Group from $67.00 to $74.00 and gave the company a "buy" rating in a research report on Monday, March 9th. Argus raised shares of Altria Group to a "hold" rating in a report on Tuesday, January 13th. Stifel Nicolaus cut their price target on Altria Group from $72.00 to $68.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Jefferies Financial Group raised their price target on Altria Group from $47.00 to $50.00 and gave the company an "underperform" rating in a report on Wednesday, March 4th. Finally, Barclays boosted their price objective on Altria Group from $57.00 to $63.00 and gave the company an "underweight" rating in a research report on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Altria Group currently has an average rating of "Hold" and an average target price of $65.88.

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.

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