Investec Asset Management PTY Ltd maintained its position in shares of Altria Group (NYSE:MO) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,284 shares of the company’s stock at the end of the 1st quarter. Investec Asset Management PTY Ltd’s holdings in Altria Group were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Mascoma Wealth Management LLC lifted its holdings in Altria Group by 0.3% in the 1st quarter. Mascoma Wealth Management LLC now owns 2,701 shares of the company’s stock valued at $193,000 after acquiring an additional 8 shares during the last quarter. HM Capital Management LLC lifted its stake in Altria Group by 0.3% during the first quarter. HM Capital Management LLC now owns 3,435 shares of the company’s stock valued at $245,000 after buying an additional 9 shares in the last quarter. Strategic Financial Group LLC lifted its stake in Altria Group by 0.4% during the first quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock valued at $235,000 after buying an additional 14 shares in the last quarter. Lafayette Investments Inc. lifted its stake in Altria Group by 0.7% during the first quarter. Lafayette Investments Inc. now owns 3,863 shares of the company’s stock valued at $276,000 after buying an additional 25 shares in the last quarter. Finally, AT Bancorp increased its holdings in shares of Altria Group by 0.3% in the 1st quarter. AT Bancorp now owns 10,545 shares of the company’s stock valued at $753,000 after purchasing an additional 29 shares during the period. 61.89% of the stock is owned by institutional investors and hedge funds.
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A number of equities analysts have recently weighed in on the company. Cowen and Company reiterated a “hold” rating on shares of Altria Group in a report on Sunday, September 10th. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price objective on the stock. in a report on Wednesday, September 6th. BidaskClub downgraded Altria Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Jefferies Group LLC set a $67.00 price objective on Altria Group and gave the stock a “hold” rating in a report on Thursday, August 24th. Finally, UBS AG reissued a “hold” rating on shares of Altria Group in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Altria Group presently has a consensus rating of “Hold” and an average target price of $71.81.
Altria Group (NYSE:MO) traded up 0.377% on Friday, hitting $62.515. The company’s stock had a trading volume of 4,417,542 shares. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. The stock has a market cap of $120.53 billion, a PE ratio of 8.244 and a beta of 0.63. The firm has a 50 day moving average of $64.48 and a 200-day moving average of $71.33.
Altria Group (NYSE:MO) last posted its earnings results 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 company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 EPS. On average, analysts expect that Altria Group will post $3.26 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.23%. This is an increase from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date is Thursday, September 14th. Altria Group’s dividend payout ratio (DPR) is presently 32.19%.
Altria Group declared that its Board of Directors has authorized a stock buyback plan on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
In related 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 transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.
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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