Train Babcock Advisors LLC held its position in shares of Altria Group (NYSE:MO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,713 shares of the company’s stock at the end of the 2nd quarter. Train Babcock Advisors LLC’s holdings in Altria Group were worth $500,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Cadinha & Co. LLC lifted its holdings in Altria Group by 34.8% in the 2nd quarter. Cadinha & Co. LLC now owns 9,301 shares of the company’s stock valued at $693,000 after purchasing an additional 2,401 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its holdings in Altria Group by 164.9% in the 2nd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 244,398 shares of the company’s stock valued at $18,149,000 after purchasing an additional 152,121 shares in the last quarter. LMR Partners LLP purchased a new position in Altria Group in the 2nd quarter valued at about $1,120,000. Westwood Holdings Group Inc. lifted its holdings in Altria Group by 10.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 155,121 shares of the company’s stock valued at $11,079,000 after purchasing an additional 14,444 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Altria Group by 4.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 1,763,350 shares of the company’s stock valued at $131,317,000 after purchasing an additional 76,988 shares in the last quarter. Institutional investors and hedge funds own 61.92% of the company’s stock.
In related news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total transaction of $994,959.00. Following the completion of the sale, the chief executive officer now owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dinyar S. Devitre sold 32,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was 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. 0.11% of the stock is currently owned by corporate insiders.
MO has been the topic of a number of recent research reports. BidaskClub upgraded shares of Altria Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $69.00 target price on the stock in a report on Wednesday, September 20th. Jefferies Group LLC set a $67.00 target price on shares of Altria Group and gave the company a “hold” rating in a report on Thursday, August 24th. Zacks Investment Research lowered shares of Altria Group from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $76.00 target price on shares of Altria Group in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Altria Group has a consensus rating of “Buy” and an average target price of $72.06.
Shares of Altria Group (NYSE MO) opened at $63.91 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.48 and a debt-to-equity ratio of 1.14. The stock has a market cap of $121.95 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.61 and a beta of 0.60. Altria Group has a 1 year low of $60.01 and a 1 year high of $77.79.
Altria Group (NYSE:MO) last posted 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 firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. analysts expect that Altria Group will post 3.28 earnings per share for the current year.
Altria Group announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 0.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 15th were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Thursday, September 14th. This is an increase from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio is 33.00%.
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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