MCF Advisors LLC lowered its stake in shares of Altria Group (NYSE:MO) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,944 shares of the company’s stock after selling 134 shares during the period. MCF Advisors LLC’s holdings in Altria Group were worth $517,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sterling Investment Advisors Ltd. boosted its stake 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 valued at $100,000 after acquiring an additional 800 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Altria Group by 4.7% during the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after acquiring an additional 74 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Altria Group by 97.4% during the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after acquiring an additional 821 shares during the last quarter. Advantage Investment Management LLC boosted its stake 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 valued at $125,000 after acquiring an additional 32 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. acquired a new stake in shares of Altria Group during the first quarter valued at $134,000. 61.89% of the stock is currently owned by institutional investors and hedge funds.
MO has been the topic of a number of analyst reports. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $80.18 price objective on the stock in a research note on Tuesday, May 16th. Zacks Investment Research lowered Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Piper Jaffray Companies initiated coverage on Altria Group in a research note on Wednesday, May 24th. They set an “overweight” rating and a $76.00 price objective on the stock. Royal Bank Of Canada reaffirmed a “sell” rating and set a $62.00 price objective on shares of Altria Group in a research note on Friday, May 26th. Finally, BidaskClub raised Altria Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. One equities research 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 presently has a consensus rating of “Hold” and a consensus target price of $71.81.
In other news, CEO Martin J. Barrington sold 15,300 shares of Altria Group 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 owns 701,074 shares in the company, valued at $45,590,842.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.
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Altria Group (MO) traded down 0.51% during trading on Tuesday, reaching $62.17. The company had a trading volume of 2,953,500 shares. The firm has a market capitalization of $119.86 billion, a price-to-earnings ratio of 8.20 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 has a 50 day moving average price of $65.40 and a 200 day moving average price of $71.61.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The business had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts predict that Altria Group will post $3.26 earnings per share for the current year.
Altria Group declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 0.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is 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. The ex-dividend date is Thursday, September 14th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.22%. Altria Group’s payout ratio is currently 32.19%.
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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