Financial Management Professionals Inc. continued to hold its stake in shares of Altria Group (NYSE:MO) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,640 shares of the company’s stock at the end of the second quarter. Financial Management Professionals Inc.’s holdings in Altria Group were worth $271,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. ST Germain D J Co. Inc. raised its stake in shares of Altria Group by 12.7% in the second quarter. ST Germain D J Co. Inc. now owns 8,597 shares of the company’s stock worth $640,000 after purchasing an additional 968 shares during the last quarter. Ronald Blue & Co. LLC raised its position in Altria Group by 14.4% during the second quarter. Ronald Blue & Co. LLC now owns 7,495 shares of the company’s stock valued at $558,000 after acquiring an additional 946 shares in the last quarter. Benedict Financial Advisors Inc. raised its position in Altria Group by 1.1% during the second quarter. Benedict Financial Advisors Inc. now owns 78,711 shares of the company’s stock valued at $5,779,000 after acquiring an additional 892 shares in the last quarter. Ingalls & Snyder LLC raised its position in Altria Group by 5.1% during the second quarter. Ingalls & Snyder LLC now owns 22,190 shares of the company’s stock valued at $1,652,000 after acquiring an additional 1,083 shares in the last quarter. Finally, River Wealth Advisors LLC raised its position in Altria Group by 12.8% during the second quarter. River Wealth Advisors LLC now owns 9,130 shares of the company’s stock valued at $680,000 after acquiring an additional 1,033 shares in the last quarter. Hedge funds and other institutional investors own 61.85% of the company’s stock.
Shares of Altria Group (NYSE:MO) opened at 64.87 on Thursday. The firm has a market capitalization of $125.07 billion, a price-to-earnings ratio of 8.55 and a beta of 0.64. The stock has a 50 day moving average price of $63.24 and a 200-day moving average price of $69.65. Altria Group has a 52 week low of $60.01 and a 52 week high of $77.79.
Altria Group (NYSE:MO) last released its quarterly earnings data 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 firm had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts anticipate that Altria Group will post $3.27 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date was Thursday, September 14th. This is a boost from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio is 34.83%.
Altria Group announced that its Board of Directors has approved a share repurchase plan on Thursday, July 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
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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 transaction of $994,959.00. Following the sale, the chief executive officer now owns 701,074 shares in the company, valued at approximately $45,590,842.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dinyar S. Devitre sold 32,000 shares of the stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total value of $1,959,040.00. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.
Several research analysts recently weighed in on the company. Vetr cut Altria Group from a “buy” rating to a “hold” rating and set a $80.38 price target for the company. in a research report on Monday, June 19th. BidaskClub upgraded Altria Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Cowen and Company set a $78.00 price target on Altria Group and gave the company a “hold” rating in a research report on Friday, July 28th. Piper Jaffray Companies set a $76.00 price target on Altria Group and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $70.00 price target (down from $71.00) on shares of Altria Group in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $71.53.
Altria Group Company 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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