Harel Insurance Investments & Financial Services Ltd. Sells 315 Shares of Altria Group (MO)
Harel Insurance Investments & Financial Services Ltd. cut its stake in Altria Group (NYSE:MO) by 9.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,094 shares of the company’s stock after selling 315 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Altria Group were worth $230,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in MO. Waldron LP grew its position in shares of Altria Group by 17.1% in the first quarter. Waldron LP now owns 26,627 shares of the company’s stock valued at $1,901,000 after purchasing an additional 3,896 shares in the last quarter. Moloney Securities Asset Management LLC grew its position in shares of Altria Group by 2.6% in the first quarter. Moloney Securities Asset Management LLC now owns 39,143 shares of the company’s stock valued at $2,796,000 after purchasing an additional 998 shares in the last quarter. First Merchants Corp grew its position in shares of Altria Group by 1.8% in the first quarter. First Merchants Corp now owns 7,127 shares of the company’s stock valued at $509,000 after purchasing an additional 127 shares in the last quarter. Hennessy Advisors Inc. grew its position in shares of Altria Group by 96.5% in the first quarter. Hennessy Advisors Inc. now owns 72,500 shares of the company’s stock valued at $5,178,000 after purchasing an additional 35,600 shares in the last quarter. Finally, Wesbanco Bank Inc. grew its position in shares of Altria Group by 0.5% in the first quarter. Wesbanco Bank Inc. now owns 71,155 shares of the company’s stock valued at $5,082,000 after purchasing an additional 353 shares in the last quarter. Institutional investors own 61.82% of the company’s stock.
MO has been the subject of several recent research reports. Stifel Nicolaus reduced their price target on Altria Group from $77.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, July 31st. Piper Jaffray Companies set a $76.00 target price on Altria Group and gave the stock a “buy” rating in a research report on Thursday, July 27th. BidaskClub cut Altria Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. Vetr cut Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 target price for the company. in a research report on Wednesday, September 6th. Finally, Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Altria Group presently has a consensus rating of “Hold” and a consensus target price of $71.99.
In other news, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were 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. Company insiders own 0.11% of the company’s stock.
Shares of Altria Group (NYSE MO) opened at 65.00 on Monday. Altria Group has a 52 week low of $60.01 and a 52 week high of $77.79. The firm’s 50-day moving average price is $63.47 and its 200 day moving average price is $69.30. The company has a market cap of $125.32 billion, a price-to-earnings ratio of 8.57 and a beta of 0.64.
Altria Group (NYSE:MO) last issued its quarterly earnings data 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 firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. On average, equities research analysts forecast that Altria Group will post $3.27 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th were given a dividend of $0.66 per share. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date was Thursday, September 14th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.06%. Altria Group’s dividend payout ratio (DPR) is presently 34.83%.
Altria Group declared that its board has approved a stock buyback program on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 0.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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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