iAB Financial Bank Has $578,000 Holdings in Altria Group (MO)
iAB Financial Bank maintained its position in Altria Group (NYSE:MO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,763 shares of the company’s stock at the end of the second quarter. iAB Financial Bank’s holdings in Altria Group were worth $578,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cadinha & Co. LLC boosted its stake in Altria Group by 34.8% during the 2nd quarter. Cadinha & Co. LLC now owns 9,301 shares of the company’s stock valued at $693,000 after acquiring an additional 2,401 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in Altria Group by 164.9% during the 2nd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 244,398 shares of the company’s stock valued at $18,149,000 after acquiring an additional 152,121 shares during the last quarter. LMR Partners LLP bought a new position in Altria Group during the 2nd quarter valued at $1,120,000. Westwood Holdings Group Inc. raised its holdings in shares of Altria Group by 10.3% during the first quarter. Westwood Holdings Group Inc. now owns 155,121 shares of the company’s stock worth $11,079,000 after purchasing an additional 14,444 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in shares of Altria Group by 4.6% during the second quarter. Teacher Retirement System of Texas now owns 1,763,350 shares of the company’s stock worth $131,317,000 after purchasing an additional 76,988 shares during the period. Hedge funds and other institutional investors own 61.92% of the company’s stock.
A number of brokerages have weighed in on MO. Berenberg Bank reissued a “hold” rating on shares of Altria Group in a report on Tuesday, October 31st. UBS AG dropped their target price on shares of Altria Group from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Cowen and Company set a $78.00 target price on shares of Altria Group and gave the stock a “hold” rating in a report on Friday, July 28th. Vetr raised shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 target price on the stock in a report on Tuesday, October 24th. Finally, Stifel Nicolaus dropped their target price on shares of Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $72.06.
Altria Group (NYSE MO) opened at $63.91 on Friday. The stock has a market cap of $121,952.42, a PE ratio of 20.22, a P/E/G ratio of 2.61 and a beta of 0.60. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.03. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the firm posted $0.82 EPS. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. equities analysts forecast that Altria Group will post 3.28 earnings per share for the current fiscal year.
Altria Group declared that its Board of Directors has approved a stock repurchase program on Thursday, July 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 0.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The firm 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 of this dividend was Thursday, September 14th. This represents a $2.64 annualized dividend and a dividend yield of 4.13%. Altria Group’s dividend payout ratio (DPR) is 33.04%.
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In other Altria Group news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 of the company’s stock, valued at $45,590,842.22. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
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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