Altria Group (MO) Stake Held by Evermay Wealth Management LLC
Evermay Wealth Management LLC held its stake in Altria Group (NYSE:MO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,499 shares of the company’s stock at the end of the 2nd quarter. Evermay Wealth Management LLC’s holdings in Altria Group were worth $335,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of MO. Swiss National Bank increased its stake in Altria Group by 25.1% during the first quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock worth $534,678,000 after purchasing an additional 1,501,400 shares during the period. Karp Capital Management Corp purchased a new stake in Altria Group during the first quarter worth about $104,292,000. Canada Pension Plan Investment Board increased its stake in Altria Group by 20.7% during the second quarter. Canada Pension Plan Investment Board now owns 4,586,398 shares of the company’s stock worth $341,549,000 after purchasing an additional 787,000 shares during the period. State Street Corp increased its stake in Altria Group by 0.9% during the first quarter. State Street Corp now owns 74,624,722 shares of the company’s stock worth $5,329,771,000 after purchasing an additional 687,246 shares during the period. Finally, Stevens Capital Management LP purchased a new stake in Altria Group during the first quarter worth about $39,943,000. Institutional investors own 61.82% of the company’s stock.
In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 701,074 shares in the company, valued at approximately $45,590,842.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction that occurred on Thursday, September 21st. The stock was 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 owned by insiders.
A number of analysts have issued reports on MO shares. Stifel Nicolaus cut their price target on shares of Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, July 31st. Piper Jaffray Companies set a $76.00 price target on shares of Altria Group and gave the stock a “buy” rating in a research note on Thursday, July 27th. BidaskClub lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 target price on the stock. in a research note on Wednesday, September 6th. Finally, Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $71.99.
Altria Group (MO) opened at 65.00 on Friday. The firm has a market capitalization of $125.32 billion, a P/E ratio of 8.57 and a beta of 0.64. The company has a 50-day moving average price of $63.47 and a 200-day moving average price of $69.30. Altria Group has a one year low of $60.01 and a one year high of $77.79.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the previous year, the business posted $0.81 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Altria Group will post $3.27 EPS for the current year.
Altria Group announced that its board has initiated a stock repurchase program on Thursday, July 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 0.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, September 14th. This is an increase from Altria Group’s previous quarterly dividend of $0.61. This represents a $2.64 annualized dividend and a yield of 4.06%. Altria Group’s payout ratio is currently 34.83%.
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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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