Catamount Wealth Management maintained its position in Altria Group (NYSE:MO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,912 shares of the company’s stock at the close of the second quarter. Catamount Wealth Management’s holdings in Altria Group were worth $217,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in MO. Sterling Investment Advisors Ltd. grew its holdings in 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 acquiring an additional 800 shares during the period. Solaris Asset Management LLC grew its holdings in Altria Group by 65.7% during the second 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 period. CKW Financial Group acquired a new position in Altria Group during the second quarter worth $109,000. Perigon Wealth Management LLC grew its holdings in 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 acquiring an additional 74 shares during the period. Finally, Proficio Capital Partners LLC grew its holdings in 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 acquiring an additional 821 shares during the period. 61.92% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction 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. Insiders own 0.11% of the company’s stock.
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Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 49.43% and a net margin of 60.37%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 15th were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.13%. This is a boost from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Thursday, September 14th. Altria Group’s payout ratio is presently 33.04%.
Altria Group declared that its Board of Directors has initiated a share 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 repurchase up to 0.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
A number of brokerages recently weighed in on MO. Zacks Investment Research lowered Altria Group from a “buy” rating to a “hold” rating in a report on Thursday. Jefferies Group LLC reaffirmed a “hold” rating and set a $70.00 price objective (down previously from $71.00) on shares of Altria Group in a report on Monday, July 17th. BidaskClub lowered Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Cowen and Company reissued a “hold” rating and issued a $74.00 target price on shares of Altria Group in a report on Tuesday, July 11th. Finally, Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.89 target price on the stock. in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Altria Group presently has an average rating of “Hold” and an average price target of $72.06.
About Altria Group
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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