Sumitomo Mitsui Financial Group Inc. cut its stake in Altria Group (NYSE:MO) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,116 shares of the company’s stock after selling 1,192 shares during the period. Altria Group makes up 0.7% of Sumitomo Mitsui Financial Group Inc.’s investment portfolio, making the stock its 9th largest position. Sumitomo Mitsui Financial Group Inc.’s holdings in Altria Group were worth $3,508,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in MO. Private Bank & Trust Co. lifted its position in Altria Group by 1.2% during the first quarter. Private Bank & Trust Co. now owns 46,108 shares of the company’s stock valued at $3,293,000 after buying an additional 550 shares in the last quarter. Visionary Asset Management Inc. lifted its position in shares of Altria Group by 3.0% during the first quarter. Visionary Asset Management Inc. now owns 46,102 shares of the company’s stock worth $3,293,000 after purchasing an additional 1,331 shares in the last quarter. North American Management Corp lifted its position in shares of Altria Group by 1.3% during the first quarter. North American Management Corp now owns 56,326 shares of the company’s stock worth $4,023,000 after purchasing an additional 740 shares in the last quarter. Parametrica Management Ltd acquired a new position in shares of Altria Group during the first quarter worth $1,009,000. Finally, BKD Wealth Advisors LLC lifted its position in shares of Altria Group by 0.8% during the first quarter. BKD Wealth Advisors LLC now owns 19,696 shares of the company’s stock worth $1,407,000 after purchasing an additional 148 shares in the last quarter. 61.89% of the stock is currently owned by hedge funds and other institutional investors.
Altria Group (MO) traded up 0.024% during mid-day trading on Friday, reaching $62.295. The company’s stock had a trading volume of 7,782,615 shares. The company has a market cap of $120.10 billion, a price-to-earnings ratio of 8.215 and a beta of 0.63. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. The stock’s 50 day moving average is $64.48 and its 200 day moving average is $71.33.
Altria Group (NYSE:MO) last issued its 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). Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter last year, the business posted $0.81 EPS. Altria Group’s quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts predict that Altria Group will post $3.26 EPS for the current year.
Altria Group announced that its Board of Directors has initiated a share buyback plan on Thursday, July 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 0.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Thursday, September 14th. This is a boost from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s payout ratio is 32.19%.
A number of research firms have recently commented on MO. Cowen and Company reissued a “hold” rating on shares of Altria Group in a research report on Sunday, September 10th. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price target for the company. in a research note on Wednesday, September 6th. BidaskClub lowered shares of Altria Group from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Jefferies Group LLC set a $67.00 price target on shares of Altria Group and gave the stock a “hold” rating in a research note on Thursday, August 24th. Finally, UBS AG reiterated a “hold” rating on shares of Altria Group in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $71.81.
In other news, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction of $994,959.00. Following the transaction, the chief executive officer now owns 701,074 shares in the company, valued at approximately $45,590,842.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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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