QCI Asset Management Inc. NY reduced its position in shares of Altria Group (NYSE:MO) by 1.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 237,226 shares of the company’s stock after selling 3,764 shares during the quarter. Altria Group accounts for about 2.1% of QCI Asset Management Inc. NY’s investment portfolio, making the stock its 5th biggest holding. QCI Asset Management Inc. NY’s holdings in Altria Group were worth $16,943,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in shares of 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 last quarter. Karp Capital Management Corp bought a new stake in Altria Group during the 1st quarter worth approximately $104,292,000. Canada Pension Plan Investment Board raised its stake in Altria Group by 23.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,799,398 shares of the company’s stock worth $271,353,000 after acquiring an additional 730,600 shares during the period. Russell Investments Group Ltd. raised its stake in Altria Group by 22.7% during the 1st quarter. Russell Investments Group Ltd. now owns 2,563,499 shares of the company’s stock worth $183,079,000 after acquiring an additional 474,122 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Altria Group by 14.8% during the 1st quarter. Acadian Asset Management LLC now owns 3,399,616 shares of the company’s stock worth $242,802,000 after acquiring an additional 438,032 shares during the period. Institutional investors and hedge funds own 61.89% of the company’s stock.
In related news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 701,074 shares in the company, valued at $45,590,842.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.11% of the stock is currently owned by company insiders.
Shares of Altria Group (NYSE MO) traded up 0.18% during trading on Friday, reaching $62.39. 16,567,304 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $64.15 and a 200 day moving average price of $71.24. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The company has a market capitalization of $120.29 billion, a P/E ratio of 8.23 and a beta of 0.63.
Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 earnings per share. Equities analysts expect that Altria Group will post $3.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Thursday, September 14th. This is a boost from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio (DPR) is 32.19%.
Altria Group declared that its board has approved a share repurchase program on Thursday, July 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 0.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
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Several equities research analysts have recently issued reports on MO shares. 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 research report on Monday, June 19th. 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 reaffirmed a “sell” rating and set a $62.00 price objective on shares of Altria Group in a research note on Friday, May 26th. Piper Jaffray Companies set a $76.00 price objective on shares of Altria Group and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, Cowen and Company set a $78.00 price objective on shares of Altria Group and gave the stock a “hold” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $71.81.
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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