Valley National Advisers Inc. Reduces Holdings in Altria Group (MO)
Valley National Advisers Inc. lessened its stake in Altria Group (NYSE:MO) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,724 shares of the company’s stock after selling 165 shares during the quarter. Valley National Advisers Inc.’s holdings in Altria Group were worth $799,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in MO. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Altria Group by 2.9% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 380,317 shares of the company’s stock valued at $27,162,000 after buying an additional 10,544 shares during the period. Kornitzer Capital Management Inc. KS increased its stake in Altria Group by 1.4% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 10,666 shares of the company’s stock valued at $762,000 after buying an additional 150 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI acquired a new position in Altria Group in the 1st quarter valued at approximately $264,000. Sfmg LLC increased its stake in Altria Group by 3.2% in the 1st quarter. Sfmg LLC now owns 11,971 shares of the company’s stock valued at $855,000 after buying an additional 371 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in Altria Group by 36.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,659 shares of the company’s stock valued at $476,000 after buying an additional 1,791 shares during the period. Hedge funds and other institutional investors own 62.30% of the company’s stock.
In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dinyar S. Devitre sold 32,000 shares of the stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total transaction of $1,959,040.00. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
Several research analysts have recently commented on MO shares. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price target on the stock in a research note on Monday. Zacks Investment Research lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday. Edward Jones upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 1st. Berenberg Bank restated a “hold” rating on shares of Altria Group in a research note on Tuesday, October 31st. Finally, Citigroup Inc. dropped their price target on shares of Altria Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Altria Group currently has an average rating of “Buy” and an average target price of $72.06.
Altria Group (NYSE MO) opened at $63.91 on Monday. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. The company has a quick ratio of 0.48, a current ratio of 0.77 and a debt-to-equity ratio of 1.14. The stock has a market cap of $121,952.42, a price-to-earnings ratio of 20.23, a P/E/G ratio of 2.61 and a beta of 0.60.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the business posted $0.82 EPS. Altria Group’s revenue was down 1.8% compared to the same quarter last year. equities analysts anticipate that Altria Group will post 3.28 earnings per share for the current fiscal year.
Altria Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 0.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 15th were paid a $0.66 dividend. The ex-dividend date was Thursday, September 14th. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. This represents a $2.64 dividend on an annualized basis and a yield of 4.13%. Altria Group’s dividend payout ratio (DPR) is presently 33.04%.
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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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