Altria Group (MO) Stake Raised by Capital Investment Advisors LLC
Capital Investment Advisors LLC lifted its position in shares of Altria Group (NYSE:MO) by 0.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,012 shares of the company’s stock after buying an additional 103 shares during the quarter. Capital Investment Advisors LLC’s holdings in Altria Group were worth $8,342,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of MO. Sterling Investment Advisors Ltd. increased its position in shares of Altria Group by 133.3% during the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after buying an additional 800 shares during the period. Perigon Wealth Management LLC grew its holdings in Altria Group by 4.7% in the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock worth $118,000 after purchasing an additional 74 shares during the period. Proficio Capital Partners LLC grew its holdings in Altria Group by 97.4% in the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock worth $121,000 after purchasing an additional 821 shares during the period. Advantage Investment Management LLC grew its holdings in Altria Group by 1.9% in the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock worth $125,000 after purchasing an additional 32 shares during the period. Finally, Feltz Wealth PLAN Inc. acquired a new stake in Altria Group in the first quarter worth $134,000. Institutional investors own 61.85% of the company’s stock.
A number of equities research analysts have commented on the stock. Vetr cut shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price target for the company. in a report on Wednesday, September 6th. Berenberg Bank set a $72.00 price target on shares of Altria Group and gave the stock a “hold” rating in a report on Sunday, August 6th. BidaskClub upgraded shares of Altria Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. UBS AG reduced their price target on shares of Altria Group from $78.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, July 31st. Finally, Jefferies Group LLC set a $67.00 price target on shares of Altria Group and gave the stock a “hold” rating in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Altria Group currently has an average rating of “Hold” and a consensus price target of $72.07.
Shares of Altria Group (MO) traded up 1.602% on Friday, hitting $62.485. 4,044,643 shares of the stock were exchanged. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. The company has a 50-day moving average price of $63.95 and a 200 day moving average price of $70.99. The company has a market cap of $120.47 billion, a PE ratio of 8.240 and a beta of 0.63.
Altria Group (NYSE:MO) last released its earnings results on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.01). The business had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 earnings per share. Equities analysts forecast that Altria Group will post $3.26 EPS for the current fiscal year.
Altria Group announced that its Board of Directors has approved a stock buyback plan on Thursday, July 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 0.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be given a $0.66 dividend. The ex-dividend date is Thursday, September 14th. This is an increase from Altria Group’s previous quarterly dividend of $0.61. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.31%. Altria Group’s dividend payout ratio is currently 34.83%.
In other news, CEO Martin J. Barrington sold 15,300 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value of $994,959.00. Following the sale, the chief executive officer now directly owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by corporate insiders.
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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