Wedgewood Investors Inc. PA lessened its holdings in Altria Group (NYSE:MO) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,604 shares of the company’s stock after selling 200 shares during the period. Altria Group makes up 2.0% of Wedgewood Investors Inc. PA’s portfolio, making the stock its 13th biggest position. Wedgewood Investors Inc. PA’s holdings in Altria Group were worth $2,354,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of MO. Sterling Investment Advisors Ltd. increased its holdings in shares of Altria Group by 133.3% during the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after buying an additional 800 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Altria Group by 4.7% during the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock worth $118,000 after buying an additional 74 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Altria Group by 97.4% during the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock worth $121,000 after buying an additional 821 shares in the last quarter. Advantage Investment Management LLC increased its holdings in shares of Altria Group by 1.9% during the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock worth $125,000 after buying an additional 32 shares in the last quarter. Finally, American Beacon Advisors Inc. acquired a new stake in shares of Altria Group during the first quarter worth approximately $164,000. 61.85% of the stock is owned by hedge funds and other institutional investors.
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 value of $994,959.00. Following the completion of the transaction, the chief executive officer now directly owns 701,074 shares in the company, valued at approximately $45,590,842.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dinyar S. Devitre sold 32,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total transaction of $1,959,040.00. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
Several analysts have recently weighed in on MO shares. BidaskClub lowered shares of Altria Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Altria Group in a report on Monday, July 31st. Cowen and Company raised shares of Altria Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $64.00 to $71.00 in a report on Tuesday, September 26th. Zacks Investment Research lowered shares of Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Royal Bank Of Canada raised shares of Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 price objective for the company in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $71.73.
Shares of Altria Group (NYSE:MO) opened at 65.35 on Friday. The company has a 50 day moving average of $63.28 and a 200-day moving average of $69.62. Altria Group has a one year low of $60.01 and a one year high of $77.79. The firm has a market cap of $125.99 billion, a price-to-earnings ratio of 8.62 and a beta of 0.64.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter last year, the company posted $0.81 earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year. On average, analysts expect that Altria Group will post $3.27 EPS for the current year.
Altria Group declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th were given a $0.66 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.61. This represents a $2.64 annualized dividend and a yield of 4.04%. The ex-dividend date was Thursday, September 14th. Altria Group’s dividend payout ratio is 34.83%.
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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