Barton Investment Management Has $426,000 Stake in Altria Group (MO)
Barton Investment Management continued to hold its position in shares of Altria Group (NYSE:MO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,740 shares of the company’s stock at the end of the third quarter. Barton Investment Management’s holdings in Altria Group were worth $426,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of MO. Vanguard Group Inc. boosted its stake in Altria Group by 2.8% in the second quarter. Vanguard Group Inc. now owns 125,294,855 shares of the company’s stock valued at $8,640,334,000 after buying an additional 3,366,581 shares during the period. Janus Capital Management LLC boosted its stake in Altria Group by 16.5% in the second quarter. Janus Capital Management LLC now owns 19,024,943 shares of the company’s stock valued at $1,311,960,000 after buying an additional 2,688,986 shares during the period. Bank of Montreal Can purchased a new stake in Altria Group during the second quarter valued at approximately $170,990,000. FMR LLC boosted its stake in Altria Group by 10.7% in the second quarter. FMR LLC now owns 25,539,336 shares of the company’s stock valued at $1,761,192,000 after buying an additional 2,464,718 shares during the period. Finally, Artemis Investment Management LLP boosted its stake in Altria Group by 335.8% in the second quarter. Artemis Investment Management LLP now owns 3,078,676 shares of the company’s stock valued at $212,320,000 after buying an additional 2,372,165 shares during the period. 59.90% of the stock is currently owned by institutional investors.
Shares of Altria Group (NYSE:MO) traded up 0.10% during trading on Friday, reaching $67.58. 4,073,116 shares of the company’s stock were exchanged. Altria Group has a 52 week low of $56.15 and a 52 week high of $70.15. The firm has a market capitalization of $131.92 billion, a PE ratio of 25.41 and a beta of 0.55. The company’s 50-day moving average price is $66.51 and its 200 day moving average price is $65.65.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The business earned $6.90 billion during the quarter, compared to analyst estimates of $5.11 billion. Altria Group had a net margin of 20.19% and a return on equity of 202.19%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Analysts predict that Altria Group will post $3.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 10th. Stockholders of record on Thursday, December 22nd were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Tuesday, December 20th. This represents a $2.44 annualized dividend and a dividend yield of 3.61%. Altria Group’s dividend payout ratio is currently 91.73%.
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Several analysts have recently commented on the stock. Vetr cut shares of Altria Group from a “buy” rating to a “hold” rating and set a $68.29 target price for the company. in a research note on Tuesday, November 8th. reduced their target price on shares of Altria Group from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, September 15th. Jefferies Group restated a “hold” rating and issued a $68.00 target price (down previously from $70.00) on shares of Altria Group in a research note on Thursday, December 1st. Wells Fargo & Company restated an “outperform” rating and issued a $74.00 target price on shares of Altria Group in a research note on Wednesday, December 21st. Finally, Zacks Investment Research cut shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $70.50.
In other news, CEO Martin J. Barrington sold 15,960 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $65.85, for a total transaction of $1,050,966.00. Following the completion of the transaction, the chief executive officer now owns 833,577 shares in the company, valued at $54,891,045.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.
About Altria Group
Altria Group, Inc is a holding company. 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 large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.
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