Fiduciary Trust Co. raised its stake in Altria Group (NYSE:MO) by 20.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,316 shares of the company’s stock after buying an additional 17,471 shares during the quarter. Fiduciary Trust Co.’s holdings in Altria Group were worth $7,307,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in MO. Sterling Investment Advisors Ltd. raised its position in shares of Altria Group by 133.3% during the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after purchasing an additional 800 shares during the period. Advantage Investment Management LLC raised its position in shares of Altria Group by 1.9% during the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock worth $125,000 after purchasing an additional 32 shares during the period. Feltz Wealth PLAN Inc. acquired a new stake in shares of Altria Group during the first quarter worth about $134,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in shares of Altria Group by 102.5% during the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,669 shares of the company’s stock worth $191,000 after purchasing an additional 1,351 shares during the period. Finally, Mascoma Wealth Management LLC raised its position in shares of Altria Group by 0.3% during the first quarter. Mascoma Wealth Management LLC now owns 2,701 shares of the company’s stock worth $193,000 after purchasing an additional 8 shares during the period. 61.89% of the stock is currently owned by hedge funds and other institutional investors.
Altria Group (NYSE:MO) traded up 0.731% on Monday, reaching $62.685. The company’s stock had a trading volume of 2,283,506 shares. The firm’s 50-day moving average price is $65.40 and its 200 day moving average price is $71.63. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79. The company has a market cap of $120.86 billion, a P/E ratio of 8.267 and a beta of 0.63.
Altria Group (NYSE:MO) last announced 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. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same period last year, the company posted $0.81 earnings per share. Altria Group’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts anticipate that Altria Group will post $3.26 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders 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 yield of 4.24%. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date is Thursday, September 14th. Altria Group’s dividend payout ratio is 32.19%.
Altria Group announced that its board has initiated a stock repurchase program on Thursday, July 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts have recently commented on the company. Cowen and Company set a $78.00 price target on Altria Group and gave the stock a “hold” rating in a research report on Friday, July 28th. Berenberg Bank set a $72.00 price target on Altria Group and gave the stock a “hold” rating in a research report on Sunday, August 6th. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $80.18 price target on the stock in a research report on Tuesday, May 16th. UBS AG dropped their price target on Altria Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, July 31st. Finally, Stifel Nicolaus dropped their price target on Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Altria Group currently has an average rating of “Hold” and an average price target of $71.81.
In other Altria Group 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 sale, the chief executive officer now owns 701,074 shares in the company, valued at $45,590,842.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by corporate insiders.
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.
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