Patriot Financial Group Insurance Agency LLC raised its position in shares of Altria Group (NYSE:MO) by 8.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,553 shares of the company’s stock after purchasing an additional 590 shares during the quarter. Altria Group accounts for about 0.6% of Patriot Financial Group Insurance Agency LLC’s investment portfolio, making the stock its 29th biggest holding. Patriot Financial Group Insurance Agency LLC’s holdings in Altria Group were worth $543,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Altria Group by 28.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 143,863 shares of the company’s stock worth $10,275,000 after buying an additional 32,064 shares during the last quarter. Mosaic Family Wealth LLC raised its stake in Altria Group by 21.7% during the 1st quarter. Mosaic Family Wealth LLC now owns 7,904 shares of the company’s stock worth $564,000 after acquiring an additional 1,412 shares during the period. Denver Investment Advisors LLC raised its stake in Altria Group by 71.8% during the 1st quarter. Denver Investment Advisors LLC now owns 11,477 shares of the company’s stock worth $820,000 after acquiring an additional 4,795 shares during the period. First Personal Financial Services raised its stake in Altria Group by 18.9% during the 1st quarter. First Personal Financial Services now owns 8,661 shares of the company’s stock worth $619,000 after acquiring an additional 1,379 shares during the period. Finally, Engineers Gate Manager LP raised its stake in Altria Group by 302.3% during the 1st quarter. Engineers Gate Manager LP now owns 35,000 shares of the company’s stock worth $2,500,000 after acquiring an additional 26,300 shares during the period. 61.89% of the stock is currently owned by hedge funds and other institutional investors.
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.
Altria Group (NYSE:MO) traded up 0.18% during mid-day trading on Friday, reaching $62.39. 16,567,304 shares of the company were exchanged. The stock’s 50-day moving average price is $64.15 and its 200-day moving average price is $71.24. The stock has a market capitalization of $120.29 billion, a price-to-earnings ratio of 8.23 and a beta of 0.63. Altria Group has a 1-year low of $60.01 and a 1-year high of $77.79.
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. On average, equities research analysts anticipate 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 authorized a stock buyback plan on Thursday, July 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 0.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are 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 restated a “sell” rating and issued a $62.00 price target on shares of Altria Group in a research report 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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