In the world of finance and investments, it is crucial for institutional investors to analyze their holdings regularly to assess risks and maximize returns. Recently, Sanders Morris Harris LLC made a notable move by reducing its stake in Altria Group, Inc. (NYSE:MO) by 52.5% during the first quarter of 2023.
According to its most recent disclosure with the Securities & Exchange Commission, Sanders Morris Harris LLC owned 8,917 shares of Altria Group’s stock after selling 9,868 shares during the period. The firm’s holdings in Altria Group were worth $398,000 at the end of the reporting period.
Altria Group is a tobacco manufacturing company that specializes in producing smokeable and oral tobacco products in the United States. The company primarily provides cigarettes under its Marlboro brand, cigars and pipe tobacco under Black & Mild, moist smokeless tobacco products and snus products under Copenhagen, Skoal, Red Seal, and Husky brands, as well as on! oral nicotine pouches.
Shares of NYSE:MO opened at $44.07 on June 19th with a fifty-two week low of $40.35 and a fifty-two week high of $51.57. The company has a market capitalization of $78.67 billion with a price-to-earnings ratio of 14.17 and a price-to-earnings-growth ratio of 2.22; it also has a beta of 0.59.
This shift in investment strategy by Sanders Morris Harris LLC may have been influenced by several factors such as industry trends or their own risk management objectives.
Investors must continuously evaluate the potential risks associated with their holdings while keeping an eye out for new opportunities that align with their investment goals effectively.
In conclusion, this recent move by Sanders Morris Harris LLC regarding its stake in Altria Group indicates that regular analysis and adjustments of investment portfolios are crucial for success in the finance industry. Investors must constantly assess their holdings’ performance to mitigate risks and capitalize on emerging opportunities effectively. These strategies will ultimately lead to a better return on investment and ensure long-term financial stability.
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Altria Group: An Analysis of Recent Activity and Future Growth Prospects
Altria Group: An In-Depth Analysis of Recent Activity and Future Expectations
Altria Group, Inc. (NYSE: MO) is a tobacco manufacturing company headquartered in the United States. The company produces and sells smokeable and oral tobacco products, including cigarettes, cigars, pipe tobacco, moist smokeless tobacco products, snus products and oral nicotine pouches primarily under the Marlboro brand.
Recent Holdings Modification by Hedge Funds
A number of hedge funds recently modified their holdings in Altria Group. Bourgeon Capital Management LLC increased its holdings by 85.6% during the 4th quarter of the fiscal year 2023, now owning 542 shares of the company’s stock valued at $25,000 after buying an additional 250 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake during the first quarter valued at $25,000. Ruedi Wealth Management Inc., Dark Forest Capital Management LP, and Jefferies Financial Group Inc. also bought new stakes in the fourth quarter of fiscal year 2023 amounting to $30,000, $34,000 and $34,000 respectively.
Institutional Investors’ Hold on Company Stock
As institutional investors make up a significant proportion of Altria Group’s ownership base with 58.38% shareholding as per June 19th data reference point.It is imperative for such changes in holdings – major or minor – by them are duly scrutinized as they play a crucial role in determining stock price movements.
Reports Issued Recently by Brokerages
Recently reports have been issued by Citigroup which lowered its target price on shares of Altria Group from $49.50 to $47.00 on Monday April 17th while Stifel Nicolaus began coverage on shares on Thursday April 13th issuing “buy” rating with$52 target price on stock. Meanwhile, StockNews.com cut Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday June 13th.
Earnings Report of Altria Group
Altria Group last issued its earnings results on Thursday April 27th disclosing $1.18 earnings per share for the quarter but missing analysts’ consensus estimates of $1.19 by ($0.01). As per the report, Altria Group had a negative return on equity of 245.43% and net margin of 22.44%. The revenue generated was $4.76 billion during the same period, compared to analyst’s estimate expectations of $4.89 billion as predicted by Bloomberg market intelligence report.
Dividend Payout Schedule
A quarterly dividend has been declared by the firm which will be paid out on Monday July 10th with shareholders of record on Thursday June 15th being given a dividend of $0.94 per share representing an annualized dividend and yield of $3.76 and 8.53% respectively.The ex-dividend date is Wednesday June14th.As per payout ratio category,Altria Group’s ratio stands at currently120.90%.
Conclusion
From all reports and findings,it can be said with certitude that Altria Group is facing mixed reactions from various brokerage analysts.The decline in price target from one institution may impact upon company’s market performance,but there are other investment advisors who remain optimistic about company’s prospects.But it must also be kept in mind that past performance does not guarantee future returns hence investors should exercise caution while investing in any stock like Altria Group.Its financial parameters at present indicate satisfactory business execution.However,it will be important to keep an eye during fiscal year quarter-wise analysis as regulatory implications,widening demographic shift towards quitting smoking habits amid recent health scare will influence company revenues,margins and overall profitability.