FARMERS & MERCHANTS TRUST Co OF LONG BEACH decreased its holdings in Altria Group Inc (NYSE:MO) by 7.6% in the 1st quarter, Holdings Channel reports. The firm owned 9,905 shares of the company’s stock after selling 820 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Altria Group were worth $569,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Country Trust Bank grew its stake in shares of Altria Group by 86.9% in the 1st quarter. Country Trust Bank now owns 514 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the period. Litman Gregory Asset Management LLC acquired a new stake in shares of Altria Group in the 4th quarter valued at about $30,000. Transamerica Financial Advisors Inc. grew its stake in shares of Altria Group by 627.6% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 713 shares of the company’s stock valued at $36,000 after buying an additional 615 shares during the period. James Investment Research Inc. acquired a new stake in shares of Altria Group in the 1st quarter valued at about $43,000. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Altria Group by 113.4% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 783 shares of the company’s stock valued at $45,000 after buying an additional 416 shares during the period. Hedge funds and other institutional investors own 64.49% of the company’s stock.
In other Altria Group news, SVP Jody L. Begley sold 3,250 shares of Altria Group stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $53.38, for a total transaction of $173,485.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of Altria Group stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $52.48, for a total transaction of $104,960.00. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.60 billion. Altria Group had a net margin of 24.87% and a return on equity of 49.42%. Altria Group’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. On average, analysts forecast that Altria Group Inc will post 4.17 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.20 dividend on an annualized basis and a yield of 6.14%. Altria Group’s dividend payout ratio (DPR) is currently 80.20%.
Several analysts have recently commented on the company. TheStreet upgraded Altria Group from a “c+” rating to a “b-” rating in a research note on Friday, March 29th. ValuEngine upgraded Altria Group from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Morgan Stanley raised their target price on Altria Group from $45.00 to $49.00 and gave the company an “underweight” rating in a research note on Monday, April 15th. Citigroup set a $52.00 target price on Altria Group and gave the company a “sell” rating in a research note on Thursday, March 28th. Finally, Zacks Investment Research upgraded Altria Group from a “sell” rating to a “hold” rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Altria Group presently has a consensus rating of “Hold” and a consensus price target of $61.91.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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