Altria Group Inc (MO) Shares Sold by Cadence Bank NA
Cadence Bank NA trimmed its holdings in Altria Group Inc (NYSE:MO) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,211 shares of the company’s stock after selling 2,529 shares during the period. Altria Group comprises about 0.9% of Cadence Bank NA’s investment portfolio, making the stock its 29th biggest position. Cadence Bank NA’s holdings in Altria Group were worth $2,443,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in MO. Balentine LLC lifted its position in shares of Altria Group by 32.4% in the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after buying an additional 357 shares in the last quarter. NewSquare Capital LLC lifted its position in shares of Altria Group by 4,734.7% in the third quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after buying an additional 106,530 shares in the last quarter. Quantum Capital Management LLC NJ purchased a new stake in shares of Altria Group in the third quarter worth about $114,000. Northwest Investment Counselors LLC lifted its position in shares of Altria Group by 557.0% in the third quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock worth $115,000 after buying an additional 1,543 shares in the last quarter. Finally, Oak Point Wealth Management purchased a new stake in shares of Altria Group in the fourth quarter worth about $120,000. Institutional investors and hedge funds own 63.01% of the company’s stock.
MO has been the topic of a number of recent research reports. Berenberg Bank upgraded Altria Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $60.01 to $71.00 in a research report on Tuesday, December 19th. Vetr downgraded Altria Group from a “buy” rating to a “hold” rating and set a $71.65 price objective on the stock. in a research report on Monday, December 4th. Zacks Investment Research downgraded Altria Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Jefferies Group upgraded Altria Group from a “hold” rating to a “buy” rating and decreased their price objective for the company from $70.04 to $70.00 in a research report on Friday, January 19th. Finally, Wells Fargo & Co upped their price objective on Altria Group from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Altria Group presently has an average rating of “Buy” and an average price target of $73.66.
Altria Group Inc (MO) opened at $62.55 on Monday. The company has a market capitalization of $119,360.00, a P/E ratio of 17.57, a PEG ratio of 1.83 and a beta of 0.63. Altria Group Inc has a 52 week low of $60.01 and a 52 week high of $77.79. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.64.
Altria Group (NYSE:MO) last released its earnings results on Thursday, February 1st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. sell-side analysts forecast that Altria Group Inc will post 4 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.70 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.48%. Altria Group’s dividend payout ratio is currently 74.16%.
Altria Group declared that its board has approved a share repurchase plan on Thursday, February 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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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.
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