Naples Global Advisors LLC decreased its position in shares of Altria Group (NYSE:MO) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,478 shares of the company’s stock after selling 75 shares during the quarter. Naples Global Advisors LLC’s holdings in Altria Group were worth $1,599,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of MO. Sterling Investment Advisors Ltd. grew its stake in shares of Altria Group by 133.3% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after purchasing an additional 800 shares during the period. Perigon Wealth Management LLC grew its stake in shares of Altria Group by 4.7% during the 1st quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock worth $118,000 after purchasing an additional 74 shares during the period. Proficio Capital Partners LLC grew its stake in shares of Altria Group by 97.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock worth $121,000 after purchasing an additional 821 shares during the period. Advantage Investment Management LLC grew its stake in shares of Altria Group by 1.9% during the 1st quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock worth $125,000 after purchasing an additional 32 shares during the period. Finally, Feltz Wealth PLAN Inc. acquired a new stake in shares of Altria Group during the 1st quarter worth approximately $134,000. 61.89% of the stock is currently owned by institutional investors and hedge funds.
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In related news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction of $994,959.00. Following the transaction, the chief executive officer now directly 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 accessible through this link. Corporate insiders own 0.11% of the company’s stock.
Shares of Altria Group (NYSE MO) traded up 0.80% on Monday, reaching $62.73. The company’s stock had a trading volume of 2,814,557 shares. The company has a 50 day moving average of $65.40 and a 200 day moving average of $71.63. The stock has a market capitalization of $120.94 billion, a P/E ratio of 8.27 and a beta of 0.63. Altria Group has a 1-year low of $60.01 and a 1-year high of $77.79.
Altria Group (NYSE:MO) last released its earnings results on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The business had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter last year, the company posted $0.81 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts expect that Altria Group will post $3.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, September 14th. 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%. Altria Group’s dividend payout ratio is 32.19%.
Altria Group announced that its Board of Directors has approved a stock buyback program on Thursday, July 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 0.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts have recently commented on the stock. Cowen and Company reaffirmed a “hold” rating on shares of Altria Group in a research note on Sunday. Vetr cut shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price objective on the stock. in a research note on Wednesday, September 6th. BidaskClub cut shares of Altria Group from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Jefferies Group LLC set a $67.00 price objective on shares of Altria Group and gave the stock a “hold” rating in a research note on Thursday, August 24th. Finally, UBS AG reaffirmed a “hold” rating on shares of Altria Group in a research note on Tuesday, August 8th. One investment 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. The company presently has an average rating of “Hold” and an average price target of $71.81.
About Altria Group
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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