Windsor Financial Group LLC lifted its holdings in Altria Group (NYSE:MO) by 11.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,261 shares of the company’s stock after buying an additional 323 shares during the quarter. Windsor Financial Group LLC’s holdings in Altria Group were worth $243,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in MO. State Street Corp grew its position in Altria Group by 0.9% during the 1st quarter. State Street Corp now owns 74,624,722 shares of the company’s stock valued at $5,329,771,000 after purchasing an additional 687,246 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Altria Group by 3.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 9,121,177 shares of the company’s stock valued at $679,255,000 after purchasing an additional 330,687 shares during the last quarter. Legal & General Group Plc grew its position in Altria Group by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 9,038,913 shares of the company’s stock valued at $673,135,000 after purchasing an additional 241,211 shares during the last quarter. Swiss National Bank grew its position in Altria Group by 25.1% during the 1st quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock valued at $534,678,000 after purchasing an additional 1,501,400 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Altria Group by 7.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 5,632,931 shares of the company’s stock valued at $402,304,000 after purchasing an additional 387,069 shares during the last quarter. 61.92% of the stock is currently 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 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 in the company, valued at approximately $45,590,842.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dinyar S. Devitre sold 32,000 shares of the company’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. Corporate insiders own 0.11% of the company’s stock.
Several brokerages recently commented on MO. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research report on Tuesday. Berenberg Bank reissued a “hold” rating on shares of Altria Group in a research report on Tuesday. Cowen and Company reissued a “hold” rating and set a $74.00 price objective on shares of Altria Group in a research report on Tuesday, July 11th. Jefferies Group LLC reissued a “hold” rating and set a $70.00 price objective (down from $71.00) on shares of Altria Group in a research report on Monday, July 17th. Finally, BidaskClub downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $72.06.
Shares of Altria Group (NYSE MO) opened at 64.22 on Wednesday. The company has a market cap of $123.82 billion, a PE ratio of 8.47 and a beta of 0.64. The firm’s 50-day moving average is $63.77 and its 200-day moving average is $68.91. Altria Group has a 1-year low of $60.01 and a 1-year high of $77.79.
Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts forecast that Altria Group will post $3.28 earnings per share for the current fiscal year.
Altria Group announced that its board has approved a stock buyback 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th were given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Thursday, September 14th. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio is currently 33.04%.
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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