IHT Wealth Management LLC decreased its stake in shares of Altria Group (NYSE:MO) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,502 shares of the company’s stock after selling 634 shares during the quarter. Altria Group comprises approximately 0.8% of IHT Wealth Management LLC’s investment portfolio, making the stock its 19th largest holding. IHT Wealth Management LLC’s holdings in Altria Group were worth $1,259,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Sterling Investment Advisors Ltd. lifted its holdings in shares of Altria Group by 133.3% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after purchasing an additional 800 shares in the last quarter. Advantage Investment Management LLC lifted its holdings in shares of Altria Group by 1.9% in the 1st quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock worth $125,000 after purchasing an additional 32 shares in the last quarter. Feltz Wealth PLAN Inc. bought a new position in shares of Altria Group in the 1st quarter worth $134,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its holdings in shares of Altria Group by 102.5% in the 1st 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 in the last quarter. Finally, Mascoma Wealth Management LLC lifted its holdings in shares of Altria Group by 0.3% in the 1st quarter. Mascoma Wealth Management LLC now owns 2,701 shares of the company’s stock worth $193,000 after purchasing an additional 8 shares in the last quarter. 61.89% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on MO. Vetr cut Altria Group from a “buy” rating to a “hold” rating and set a $80.38 target price on the stock. in a report on Monday, June 19th. BidaskClub upgraded Altria Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Royal Bank Of Canada reiterated a “sell” rating and issued a $62.00 target price on shares of Altria Group in a report on Friday, May 26th. Piper Jaffray Companies set a $76.00 target price on Altria Group and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, Cowen and Company set a $78.00 target price on Altria Group and gave the stock a “hold” rating in a report on Friday, July 28th. One investment 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 stock presently has an average rating of “Hold” and an average target price of $71.81.
Shares of Altria Group (MO) traded down 0.38% during midday trading on Tuesday, hitting $62.25. The stock had a trading volume of 2,605,072 shares. The stock’s 50-day moving average is $65.40 and its 200-day moving average is $71.61. The stock has a market cap of $120.02 billion, a PE ratio of 8.21 and a beta of 0.63. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $4.37 billion for 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 company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. Equities analysts anticipate that Altria Group will post $3.26 EPS for the current year.
Altria Group declared that its board has authorized a share repurchase plan on Thursday, July 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 0.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently declared 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 is an increase from Altria Group’s previous quarterly dividend of $0.61. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Thursday, September 14th. Altria Group’s dividend payout ratio is presently 32.19%.
In other news, CEO Martin J. Barrington sold 15,300 shares of the company’s 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 transaction, 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 filing with the SEC, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.
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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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