Shell Asset Management Co. Purchases 28,823 Shares of Altria Group Inc (NYSE:MO)

Shell Asset Management Co. grew its position in Altria Group Inc (NYSE:MO) by 14.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 225,574 shares of the company’s stock after purchasing an additional 28,823 shares during the quarter. Shell Asset Management Co.’s holdings in Altria Group were worth $8,723,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC bought a new position in shares of Altria Group in the fourth quarter valued at approximately $27,000. New South Capital Management Inc. bought a new position in shares of Altria Group in the fourth quarter valued at approximately $30,000. Pflug Koory LLC raised its position in shares of Altria Group by 70.0% in the first quarter. Pflug Koory LLC now owns 765 shares of the company’s stock valued at $30,000 after purchasing an additional 315 shares during the period. Sanders Morris Harris LLC raised its position in shares of Altria Group by 5.1% in the first quarter. Sanders Morris Harris LLC now owns 82,156 shares of the company’s stock valued at $31,000 after purchasing an additional 4,006 shares during the period. Finally, Country Trust Bank raised its position in shares of Altria Group by 58.4% in the first quarter. Country Trust Bank now owns 814 shares of the company’s stock valued at $31,000 after purchasing an additional 300 shares during the period. 63.50% of the stock is currently owned by institutional investors.

MO traded up $0.19 during trading on Friday, reaching $37.73. 6,861,912 shares of the company’s stock were exchanged, compared to its average volume of 10,536,376. Altria Group Inc has a fifty-two week low of $30.95 and a fifty-two week high of $53.11. The company has a quick ratio of 0.53, a current ratio of 0.71 and a debt-to-equity ratio of 4.06. The business has a 50 day moving average price of $38.45 and a 200 day moving average price of $44.43. The company has a market capitalization of $69.76 billion, a P/E ratio of -77.00, a PEG ratio of 1.76 and a beta of 0.45.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.11. Altria Group had a negative net margin of 3.33% and a positive return on equity of 84.55%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. The business’s revenue was up 16.0% compared to the same quarter last year. As a group, research analysts forecast that Altria Group Inc will post 4.26 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.36 annualized dividend and a dividend yield of 8.91%. Altria Group’s dividend payout ratio is presently 79.62%.

MO has been the topic of several research analyst reports. Bank of America lowered their price objective on shares of Altria Group from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Royal Bank of Canada restated a “buy” rating and issued a $68.00 price objective on shares of Altria Group in a research note on Monday, March 23rd. Morgan Stanley upgraded shares of Altria Group from an “equal weight” rating to an “overweight” rating and set a $49.00 price objective on the stock in a research note on Monday, March 16th. Piper Sandler upgraded shares of Altria Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $52.00 to $57.00 in a research note on Thursday, January 30th. Finally, Panmure Gordon upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Friday, April 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. Altria Group presently has a consensus rating of “Buy” and an average target price of $50.79.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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