Meritage Portfolio Management decreased its position in Altria Group (NYSE:MO) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,987 shares of the company’s stock after selling 1,477 shares during the period. Meritage Portfolio Management’s holdings in Altria Group were worth $6,776,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of MO. Hartford Financial Management Inc. increased its stake in shares of Altria Group by 25.4% during the 1st quarter. Hartford Financial Management Inc. now owns 4,542 shares of the company’s stock worth $324,000 after purchasing an additional 920 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in shares of Altria Group by 164.9% during the 2nd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 244,398 shares of the company’s stock worth $18,149,000 after purchasing an additional 152,121 shares during the last quarter. Washington Trust Bank increased its stake in shares of Altria Group by 495.6% during the 1st quarter. Washington Trust Bank now owns 105,680 shares of the company’s stock worth $7,548,000 after purchasing an additional 87,937 shares during the last quarter. SPC Financial Inc. increased its stake in shares of Altria Group by 1.8% during the 1st quarter. SPC Financial Inc. now owns 11,150 shares of the company’s stock worth $796,000 after purchasing an additional 200 shares during the last quarter. Finally, Reilly Financial Advisors LLC increased its stake in shares of Altria Group by 4.1% during the 1st quarter. Reilly Financial Advisors LLC now owns 29,960 shares of the company’s stock worth $2,140,000 after purchasing an additional 1,188 shares during the last quarter. Hedge funds and other institutional investors own 61.89% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Cowen and Company set a $78.00 price target on shares of Altria Group and gave the stock a “hold” rating in a research note on Friday, July 28th. Berenberg Bank set a $72.00 price target on shares of Altria Group and gave the stock a “hold” rating in a research note on Sunday, August 6th. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $80.18 price target for the company in a research note on Tuesday, May 16th. UBS AG decreased their price target on shares of Altria Group from $78.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, July 31st. Finally, Stifel Nicolaus decreased their price target on shares of Altria Group from $77.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. Altria Group presently has a consensus rating of “Hold” and a consensus target price of $71.81.
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In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.
Altria Group (NYSE:MO) traded down 0.80% on Friday, reaching $62.23. 6,736,941 shares of the company were exchanged. The firm has a market capitalization of $119.98 billion, a P/E ratio of 8.21 and a beta of 0.63. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The firm has a 50-day moving average of $65.63 and a 200 day moving average of $71.66.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing the Zacks’ 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 business had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the prior year, the company posted $0.81 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts predict that Altria Group will post $3.26 earnings per share for the current year.
Altria Group announced that its Board of Directors has approved a share buyback plan on Thursday, July 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 0.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.66 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.61. This represents a $2.64 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Thursday, September 14th. Altria Group’s dividend payout ratio is currently 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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