KBC Group NV increased its holdings in shares of Altria Group (NYSE:MO) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 361,687 shares of the company’s stock after purchasing an additional 4,879 shares during the quarter. KBC Group NV’s holdings in Altria Group were worth $26,935,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of MO. Windsor Financial Group LLC increased its position in Altria Group by 11.0% during the second quarter. Windsor Financial Group LLC now owns 3,261 shares of the company’s stock worth $243,000 after buying an additional 323 shares during the period. First Personal Financial Services increased its position in Altria Group by 7.2% during the second quarter. First Personal Financial Services now owns 9,282 shares of the company’s stock worth $691,000 after buying an additional 621 shares during the period. Cornerstone Capital Inc. increased its position in Altria Group by 3.6% during the second quarter. Cornerstone Capital Inc. now owns 6,975 shares of the company’s stock worth $519,000 after buying an additional 240 shares during the period. Aspiriant LLC acquired a new position in Altria Group during the second quarter worth approximately $447,000. Finally, Ballentine Partners LLC increased its position in Altria Group by 2.8% during the second quarter. Ballentine Partners LLC now owns 8,651 shares of the company’s stock worth $622,000 after buying an additional 234 shares during the period. Hedge funds and other institutional investors own 61.92% of the company’s stock.
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Several research analysts have commented on MO shares. Stifel Nicolaus cut their price target on Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, July 31st. Piper Jaffray Companies set a $76.00 price target on Altria Group and gave the stock a “buy” rating in a research report on Thursday, July 27th. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price target on the stock. in a research report on Wednesday, September 6th. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Wednesday, October 11th. Finally, Citigroup Inc. cut their price target on Altria Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $72.06.
In related news, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the sale, the chief executive officer now owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was 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. Company insiders own 0.11% of the company’s stock.
Altria Group (NYSE MO) opened at 64.22 on Wednesday. The firm has a market cap of $123.82 billion, a price-to-earnings ratio of 8.47 and a beta of 0.64. The stock has a 50 day moving average price of $63.77 and a 200-day moving average price of $68.91. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. Equities analysts forecast that Altria Group will post $3.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 15th were issued a $0.66 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.64 annualized dividend and a dividend yield of 4.11%. Altria Group’s dividend payout ratio (DPR) is 33.04%.
Altria Group announced that its Board of Directors has initiated a stock repurchase program on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 0.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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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