Other institutional investors have also bought and sold shares of the company. United Capital Financial Advisers LLC increased its position in Altria Group by 54.7% in the fourth quarter. United Capital Financial Advisers LLC now owns 174,090 shares of the company’s stock valued at $11,772,000 after buying an additional 61,587 shares during the period. Shepherd Financial Partners LLC acquired a new position in Altria Group during the fourth quarter valued at $4,509,000. Cypress Wealth Advisors LLC increased its position in Altria Group by 3.4% in the fourth quarter. Cypress Wealth Advisors LLC now owns 37,520 shares of the company’s stock valued at $2,537,000 after buying an additional 1,237 shares during the period. CAMG Solamere Management LLC acquired a new position in Altria Group during the fourth quarter valued at $432,000. Finally, Bridgeworth LLC acquired a new position in Altria Group during the fourth quarter valued at $329,000. Hedge funds and other institutional investors own 61.97% of the company’s stock.
Visionary Asset Management Inc. lowered its stake in shares of Altria Group (NYSE:MO) by 9.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,537 shares of the company’s stock after selling 4,565 shares during the period. Visionary Asset Management Inc.’s holdings in Altria Group were worth $3,093,000 as of its most recent filing with the SEC.
Altria Group (NYSE MO) traded down 0.14% during midday trading on Wednesday, reaching $65.41. 6,583,852 shares of the company were exchanged. The stock has a market capitalization of $126.11 billion, a price-to-earnings ratio of 8.63 and a beta of 0.61. The firm’s 50-day moving average price is $73.93 and its 200 day moving average price is $73.05. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by $0.01. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the business earned $0.81 earnings per share. Equities analysts predict that Altria Group will post $3.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 10th. Investors of record on Thursday, June 15th were given a $0.61 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $2.44 annualized dividend and a yield of 3.73%. Altria Group’s dividend payout ratio (DPR) is currently 32.19%.
Altria Group declared that its Board of Directors has approved a stock repurchase program on Thursday, July 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 0.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
MO has been the subject of several recent research reports. Vetr downgraded shares of Altria Group from a “buy” rating to a “hold” rating and set a $74.89 target price for the company. in a report on Tuesday, April 11th. Zacks Investment Research downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. Piper Jaffray Companies initiated coverage on shares of Altria Group in a report on Wednesday, May 24th. They set an “overweight” rating and a $76.00 target price for the company. Royal Bank Of Canada restated a “sell” rating and set a $62.00 target price on shares of Altria Group in a report on Friday, May 26th. Finally, BidaskClub upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Altria Group has a consensus rating of “Hold” and a consensus target price of $72.97.
In related news, Director George Munoz sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total value of $361,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dinyar S. Devitre sold 4,285 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $70.72, for a total value of $303,035.20. Following the completion of the transaction, the director now directly owns 112,457 shares of the company’s stock, valued at $7,952,959.04. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.
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.