Security National Trust Co. cut its stake in shares of Altria Group (NYSE:MO) by 6.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,685 shares of the company’s stock after selling 4,303 shares during the quarter. Altria Group accounts for about 1.6% of Security National Trust Co.’s portfolio, making the stock its 12th largest position. Security National Trust Co.’s holdings in Altria Group were worth $4,668,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in MO. Sterling Investment Advisors Ltd. grew its holdings in Altria Group by 133.3% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after acquiring an additional 800 shares during the last quarter. Solaris Asset Management LLC grew its holdings in Altria Group by 65.7% during the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after acquiring an additional 557 shares during the last quarter. CKW Financial Group bought a new stake in Altria Group during the 2nd quarter worth approximately $109,000. Perigon Wealth Management LLC boosted its stake in shares of Altria Group by 4.7% in the 1st quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after purchasing an additional 74 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in shares of Altria Group by 97.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after purchasing an additional 821 shares during the last quarter. 61.92% of the stock is currently owned by institutional investors.
In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction of $994,959.00. Following the completion of the transaction, the chief executive officer now owns 701,074 shares of the company’s stock, valued at $45,590,842.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The shares were 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. Insiders own 0.11% of the company’s stock.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share.
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. The ex-dividend date was Thursday, September 14th. This represents a $2.64 annualized dividend and a yield of 4.11%. This is a boost from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s payout ratio is 33.04%.
Altria Group declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 0.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.
A number of equities research analysts have recently commented on MO shares. Stifel Nicolaus reduced their price objective on shares of Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, July 31st. Piper Jaffray Companies set a $76.00 price objective on shares of Altria Group and gave the company a “buy” rating in a research note on Thursday, July 27th. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price objective on the stock. in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Wednesday, October 11th. Finally, Citigroup Inc. reduced their price objective on shares of Altria Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $72.06.
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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