Altria Group (NYSE:MO) Shares Bought by CAPROCK Group Inc.

CAPROCK Group Inc. grew its position in Altria Group (NYSE:MO) by 114.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,593 shares of the company’s stock after buying an additional 11,009 shares during the period. CAPROCK Group Inc.’s holdings in Altria Group were worth $1,546,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Lourd Capital LLC boosted its holdings in shares of Altria Group by 6.5% in the 2nd quarter. Lourd Capital LLC now owns 6,979 shares of the company’s stock valued at $520,000 after buying an additional 426 shares in the last quarter. Heritage Wealth Advisors boosted its holdings in shares of Altria Group by 4.7% in the 2nd quarter. Heritage Wealth Advisors now owns 75,037 shares of the company’s stock valued at $5,587,000 after buying an additional 3,378 shares in the last quarter. Independent Franchise Partners LLP boosted its holdings in shares of Altria Group by 3.3% in the 2nd quarter. Independent Franchise Partners LLP now owns 2,445,015 shares of the company’s stock valued at $182,080,000 after buying an additional 78,012 shares in the last quarter. Stonebridge Capital Management Inc. bought a new stake in shares of Altria Group in the 2nd quarter valued at about $277,000. Finally, Honkamp Krueger Financial Services Inc. boosted its holdings in shares of Altria Group by 3.8% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 58,656 shares of the company’s stock valued at $4,368,000 after buying an additional 2,172 shares in the last quarter. Institutional investors and hedge funds own 61.82% of the company’s stock.

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A number of analysts have recently weighed in on the stock. Vetr cut shares of Altria Group from a “buy” rating to a “hold” rating and set a $80.38 price target on the stock. in a report on Monday, June 19th. BidaskClub upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Cowen and Company set a $78.00 price target on shares of Altria Group and gave the company a “hold” rating in a report on Friday, July 28th. Piper Jaffray Companies set a $76.00 price target on shares of Altria Group and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $70.00 price target (down from $71.00) on shares of Altria Group in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Altria Group presently has a consensus rating of “Hold” and an average price target of $71.99.

Altria Group (NYSE:MO) opened at 65.37 on Tuesday. The stock has a market capitalization of $126.03 billion, a price-to-earnings ratio of 8.62 and a beta of 0.64. The company has a 50 day moving average of $63.30 and a 200 day moving average of $69.51. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) 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 analyst estimates of $5.02 billion. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. On average, equities analysts predict that Altria Group will post $3.27 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 15th were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.04%. This is an increase from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Thursday, September 14th. Altria Group’s dividend payout ratio is 34.83%.

Altria Group announced that its board has authorized a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In other news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was 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 $45,590,842.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dinyar S. Devitre sold 32,000 shares of the stock in a transaction that occurred on 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. Corporate insiders own 0.11% of the company’s stock.

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.

Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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