Aveo Capital Partners LLC reduced its position in Altria Group (NYSE:MO) by 47.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,084 shares of the company’s stock after selling 6,476 shares during the period. Aveo Capital Partners LLC’s holdings in Altria Group were worth $506,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in MO. Integrated Wealth Management raised its position in shares of Altria Group by 0.8% in the 1st quarter. Integrated Wealth Management now owns 83,839 shares of the company’s stock valued at $5,988,000 after purchasing an additional 682 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in shares of Altria Group by 2.8% in the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 49,040 shares of the company’s stock valued at $3,502,000 after purchasing an additional 1,316 shares during the last quarter. Fox Run Management L.L.C. raised its position in shares of Altria Group by 230.3% in the 1st quarter. Fox Run Management L.L.C. now owns 10,900 shares of the company’s stock valued at $778,000 after purchasing an additional 7,600 shares during the last quarter. Tompkins Financial Corp raised its position in shares of Altria Group by 29.1% in the 1st quarter. Tompkins Financial Corp now owns 64,440 shares of the company’s stock valued at $4,037,000 after purchasing an additional 14,528 shares during the last quarter. Finally, Viking Fund Management LLC raised its position in shares of Altria Group by 16.0% in the 1st quarter. Viking Fund Management LLC now owns 87,000 shares of the company’s stock valued at $6,214,000 after purchasing an additional 12,000 shares during the last quarter. Institutional investors and hedge funds own 61.89% of the company’s stock.
Altria Group (NYSE:MO) traded down 0.80% during trading on Friday, hitting $62.23. 6,736,941 shares of the stock traded hands. The stock has a market cap of $119.98 billion, a P/E ratio of 8.21 and a beta of 0.63. The firm’s 50-day moving average is $65.63 and its 200-day moving average is $71.66. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. Altria Group’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS. On average, analysts forecast that Altria Group will post $3.26 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be given a $0.66 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.64 annualized dividend and a yield of 4.24%. Altria Group’s dividend payout ratio is presently 32.19%.
Altria Group declared that its board has initiated a stock buyback program on Thursday, July 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 0.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the transaction, the chief executive officer now owns 701,074 shares in the company, valued at $45,590,842.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.
Several equities analysts recently commented on MO shares. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price objective for the company. in a research report on Wednesday. BidaskClub raised shares of Altria Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Royal Bank Of Canada raised shares of Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 price objective for the company in a research report on Monday, July 31st. Cowen and Company set a $78.00 price objective on shares of Altria Group and gave the company a “hold” rating in a research report on Friday, July 28th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Altria Group in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $71.81.
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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