Altria Group (MO) Shares Bought by City Holding Co.
City Holding Co. increased its holdings in shares of Altria Group (NYSE:MO) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,432 shares of the company’s stock after buying an additional 1,862 shares during the period. Altria Group comprises approximately 1.1% of City Holding Co.’s portfolio, making the stock its 15th largest position. City Holding Co.’s holdings in Altria Group were worth $3,159,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. State Street Corp boosted its position in Altria Group by 0.9% during the 1st quarter. State Street Corp now owns 74,624,722 shares of the company’s stock worth $5,329,771,000 after buying an additional 687,246 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Altria Group by 5.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 8,790,490 shares of the company’s stock worth $627,817,000 after buying an additional 476,393 shares during the period. Swiss National Bank boosted its position in Altria Group by 25.1% during the 1st quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock worth $534,678,000 after buying an additional 1,501,400 shares during the period. UBS Asset Management Americas Inc. boosted its position in Altria Group by 7.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 5,632,931 shares of the company’s stock worth $402,304,000 after buying an additional 387,069 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in Altria Group by 9.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 4,639,646 shares of the company’s stock worth $331,364,000 after buying an additional 388,541 shares during the period. Institutional investors and hedge funds own 61.85% of the company’s stock.
Several equities research analysts recently commented on the stock. Cowen and Company set a $78.00 target price on shares of Altria Group and gave the stock a “hold” rating in a research report on Friday, July 28th. Berenberg Bank set a $72.00 target price on shares of Altria Group and gave the stock a “hold” rating in a research report on Sunday, August 6th. UBS AG cut their target price on shares of Altria Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, July 31st. Stifel Nicolaus cut their target price on shares of Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, July 31st. Finally, Piper Jaffray Companies assumed coverage on shares of Altria Group in a report on Wednesday, May 24th. They set an “overweight” rating and a $76.00 price target for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $72.07.
In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the transaction, the chief executive officer now owns 701,074 shares in the company, valued at $45,590,842.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by corporate insiders.
Altria Group (NYSE MO) traded down 0.66% during mid-day trading on Wednesday, hitting $61.82. 1,762,877 shares of the stock traded hands. Altria Group has a 1-year low of $60.01 and a 1-year high of $77.79. The firm has a market capitalization of $119.19 billion, a P/E ratio of 8.15 and a beta of 0.63. The company has a 50-day moving average of $63.95 and a 200 day moving average of $70.99.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. Altria Group’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 EPS. On average, equities research analysts anticipate that Altria Group will post $3.26 EPS for the current year.
Altria Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 27th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 0.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be issued a $0.66 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.64 dividend on an annualized basis and a yield of 4.24%. Altria Group’s dividend payout ratio is 34.83%.
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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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