Breton Hill Capital Ltd. Boosts Stake in Altria Group (MO)
Breton Hill Capital Ltd. increased its position in Altria Group (NYSE:MO) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 178,096 shares of the company’s stock after buying an additional 11,796 shares during the period. Altria Group comprises 2.5% of Breton Hill Capital Ltd.’s portfolio, making the stock its largest position. Breton Hill Capital Ltd.’s holdings in Altria Group were worth $13,263,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in Altria Group by 25.1% in the first 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. Karp Capital Management Corp bought a new stake in Altria Group during the first quarter worth approximately $104,292,000. Canada Pension Plan Investment Board increased its stake in Altria Group by 23.8% in the first quarter. Canada Pension Plan Investment Board now owns 3,799,398 shares of the company’s stock worth $271,353,000 after buying an additional 730,600 shares during the period. State Street Corp increased its stake in Altria Group by 0.9% in the first 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. Finally, Stevens Capital Management LP bought a new stake in Altria Group during the first quarter worth approximately $39,943,000. Institutional investors own 61.89% of the company’s stock.
Altria Group (MO) traded up 0.071% on Friday, hitting $63.445. 2,659,029 shares of the stock traded hands. The company’s 50 day moving average price is $67.32 and its 200-day moving average price is $72.00. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The stock has a market capitalization of $122.32 billion, a P/E ratio of 8.367 and a beta of 0.61.
Altria Group (NYSE:MO) last released its earnings results 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. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts predict that Altria Group will post $3.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.16%. 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. Altria Group’s dividend payout ratio (DPR) is currently 32.19%.
Altria Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of analysts have commented on MO shares. Wells Fargo & Company restated an “outperform” rating and set a $80.00 price target on shares of Altria Group in a research report on Monday, July 31st. Zacks Investment Research downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. BidaskClub upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Royal Bank Of Canada restated a “sell” rating and set a $62.00 price target on shares of Altria Group in a research report on Friday, May 26th. Finally, Vetr upgraded shares of Altria Group from a “sell” rating to a “buy” rating and set a $80.18 price target on the stock in a research report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $72.47.
In related news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $45,590,842.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.
Altria Group Company 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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