Montag A & Associates Inc. lifted its position in shares of Altria Group (NYSE:MO) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,263 shares of the company’s stock after purchasing an additional 61 shares during the quarter. Montag A & Associates Inc.’s holdings in Altria Group were worth $690,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MO. Swiss National Bank boosted its position in shares of Altria Group by 25.1% during the first 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 in the last quarter. Karp Capital Management Corp bought a new stake in shares of Altria Group during the first quarter valued at approximately $104,292,000. Canada Pension Plan Investment Board boosted its holdings in Altria Group by 20.7% in the second quarter. Canada Pension Plan Investment Board now owns 4,586,398 shares of the company’s stock worth $341,549,000 after acquiring an additional 787,000 shares in the last quarter. State Street Corp boosted its holdings in Altria Group by 0.9% in the first quarter. State Street Corp now owns 74,624,722 shares of the company’s stock worth $5,329,771,000 after acquiring an additional 687,246 shares in the last quarter. Finally, Stevens Capital Management LP bought a new stake in Altria Group in the first quarter worth $39,943,000. Institutional investors own 62.30% of the company’s stock.
In related news, CEO Martin J. Barrington sold 15,300 shares of the company’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 sale, the chief executive officer now owns 701,074 shares in the company, valued at $45,590,842.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dinyar S. Devitre sold 32,000 shares of the company’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. 0.11% of the stock is currently owned by corporate insiders.
Several equities research analysts have commented on MO shares. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 target price on the stock. in a report on Wednesday, September 6th. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Wednesday, October 11th. Piper Jaffray Companies reissued a “buy” rating and issued a $76.00 target price on shares of Altria Group in a report on Friday, October 27th. BidaskClub raised Altria Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Royal Bank Of Canada raised Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 target price on the stock in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.06.
Altria Group (MO) opened at $63.91 on Monday. The stock has a market capitalization of $121,952.42, a price-to-earnings 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 has a 1-year low of $60.01 and a 1-year high of $77.79.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate 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 prior year, the company posted $0.82 earnings per share. analysts predict that Altria Group will post 3.28 EPS for the current 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 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 a boost from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio is 33.04%.
Altria Group announced that its board has approved a share 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
Altria Group 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.
Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group (NYSE:MO).
What are top analysts saying about Altria Group? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Altria Group and related companies.