Shelton Capital Management lowered its position in Altria Group (NYSE:MO) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,255 shares of the company’s stock after selling 1,177 shares during the period. Shelton Capital Management’s holdings in Altria Group were worth $1,589,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mascoma Wealth Management LLC increased its position in shares of Altria Group by 0.3% in the 1st quarter. Mascoma Wealth Management LLC now owns 2,701 shares of the company’s stock valued at $193,000 after buying an additional 8 shares in the last quarter. HM Capital Management LLC increased its position in shares of Altria Group by 0.3% in the 1st quarter. HM Capital Management LLC now owns 3,435 shares of the company’s stock valued at $245,000 after buying an additional 9 shares in the last quarter. Strategic Financial Group LLC increased its position in shares of Altria Group by 0.4% in the 1st quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock valued at $235,000 after buying an additional 14 shares in the last quarter. Lafayette Investments Inc. increased its position in shares of Altria Group by 0.7% in the 1st quarter. Lafayette Investments Inc. now owns 3,863 shares of the company’s stock valued at $276,000 after buying an additional 25 shares in the last quarter. Finally, AT Bancorp increased its position in shares of Altria Group by 0.3% in the 1st quarter. AT Bancorp now owns 10,545 shares of the company’s stock valued at $753,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 61.89% of the company’s stock.
A number of analysts recently commented on MO shares. BidaskClub cut shares of Altria Group from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Wells Fargo & Company restated an “outperform” rating and issued a $80.00 price objective on shares of Altria Group in a research report on Monday, July 31st. Zacks Investment Research cut shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Royal Bank Of Canada restated a “sell” rating and issued a $62.00 price objective on shares of Altria Group in a research report on Friday, May 26th. Finally, Vetr upgraded shares of Altria Group from a “sell” rating to a “buy” rating and set a $80.18 price objective for the company in a research report on Monday, June 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. Altria Group currently has a consensus rating of “Hold” and an average target price of $71.81.
In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the sale, the chief executive officer now directly owns 701,074 shares of the company’s stock, valued at $45,590,842.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.11% of the company’s stock.
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Shares of Altria Group (NYSE MO) traded down 0.80% during trading on Friday, reaching $62.23. 6,736,941 shares of the company were exchanged. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79. The stock’s 50-day moving average is $65.63 and its 200-day moving average is $71.66. The firm has a market cap of $119.98 billion, a price-to-earnings ratio of 8.21 and a beta of 0.63.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by $0.01. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period last year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts predict that Altria Group will post $3.26 earnings per share for the current fiscal year.
Altria Group announced that its board has authorized a stock repurchase plan on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 0.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be paid a $0.66 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.61. This represents a $2.64 annualized dividend and a yield of 4.24%. The ex-dividend date is Thursday, September 14th. Altria Group’s payout ratio is 32.19%.
Altria Group Profile
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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