Federated Investors Inc. PA boosted its holdings in Altria Group (NYSE:MO) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,736,904 shares of the company’s stock after buying an additional 227,112 shares during the quarter. Altria Group makes up about 2.7% of Federated Investors Inc. PA’s holdings, making the stock its 4th largest position. Federated Investors Inc. PA owned 0.66% of Altria Group worth $948,518,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Sterling Investment Advisors Ltd. increased its holdings in Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after buying an additional 800 shares during the last quarter. Solaris Asset Management LLC increased its holdings in Altria Group by 65.7% in the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after buying an additional 557 shares during the last quarter. CKW Financial Group purchased a new position in Altria Group in the second quarter valued at $109,000. Perigon Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 74 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of 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 purchasing an additional 821 shares during the last quarter. 62.30% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the sale, the chief executive officer now owns 701,074 shares in the company, valued at $45,590,842.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were 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 owned by company insiders.
MO has been the topic of several research reports. BidaskClub raised Altria Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $69.00 price objective on the stock in a report on Wednesday, September 20th. Jefferies Group LLC set a $67.00 price objective on Altria Group and gave the stock a “hold” rating in a report on Thursday, August 24th. Zacks Investment Research lowered Altria Group from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $76.00 price objective on shares of Altria Group in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Altria Group has an average rating of “Buy” and an average price target of $72.06.
Shares of Altria Group (NYSE MO) opened at $63.91 on Monday. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. The firm has a market cap of $121,952.42, a PE ratio of 20.23, a PEG ratio of 2.61 and a beta of 0.60. The company has a current ratio of 0.77, a quick ratio of 0.48 and a debt-to-equity ratio of 1.14.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. The business 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 business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 earnings per share. research analysts expect that Altria Group will post 3.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 15th were given a $0.66 dividend. The ex-dividend date was Thursday, September 14th. This represents a $2.64 dividend on an annualized basis and a yield of 4.13%. This is an increase from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio (DPR) is presently 33.04%.
Altria Group announced that its Board of Directors has approved a share 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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