Gamble Jones Investment Counsel lowered its position in shares of Altria Group (NYSE:MO) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,492 shares of the company’s stock after selling 695 shares during the quarter. Gamble Jones Investment Counsel’s holdings in Altria Group were worth $5,622,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. HM Capital Management LLC raised its stake in Altria Group by 0.3% during the first quarter. HM Capital Management LLC now owns 3,435 shares of the company’s stock worth $245,000 after purchasing an additional 9 shares during the period. Baystate Wealth Management LLC raised its stake in Altria Group by 0.3% during the second quarter. Baystate Wealth Management LLC now owns 3,675 shares of the company’s stock worth $270,000 after purchasing an additional 10 shares during the period. Strategic Financial Group LLC raised its stake in Altria Group by 0.4% during the first quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock worth $235,000 after purchasing an additional 14 shares during the period. Lafayette Investments Inc. raised its stake in Altria Group by 0.7% during the first quarter. Lafayette Investments Inc. now owns 3,863 shares of the company’s stock worth $276,000 after purchasing an additional 25 shares during the period. Finally, AT Bancorp raised its stake in Altria Group by 0.3% during the first quarter. AT Bancorp now owns 10,545 shares of the company’s stock worth $753,000 after purchasing an additional 29 shares during the period. Hedge funds and other institutional investors own 61.85% of the company’s stock.
A number of brokerages have recently commented on MO. Royal Bank Of Canada reissued a “hold” rating and issued a $62.00 target price on shares of Altria Group in a research note on Tuesday, October 3rd. Cowen and Company raised shares of Altria Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $64.00 to $71.00 in a research note on Tuesday, September 26th. Vetr raised shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $69.00 target price on the stock in a research note on Wednesday, September 20th. BidaskClub downgraded shares of Altria Group from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Finally, Jefferies Group LLC set a $67.00 target price on shares of Altria Group and gave the company a “hold” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $71.57.
Altria Group (NYSE:MO) opened at 65.01 on Wednesday. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The firm has a market capitalization of $125.34 billion, a price-to-earnings ratio of 8.57 and a beta of 0.64. The stock has a 50 day moving average of $63.21 and a 200 day moving average of $69.68.
Altria Group (NYSE:MO) last announced its quarterly earnings data 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). 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 during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the prior year, the company posted $0.81 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts anticipate that Altria Group will post $3.26 earnings per share for the current year.
Altria Group announced that its Board of Directors has approved a share 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th were issued a $0.66 dividend. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date was Thursday, September 14th. This represents a $2.64 annualized dividend and a dividend yield of 4.06%. Altria Group’s dividend payout ratio is presently 34.83%.
In other Altria Group news, Director Dinyar S. Devitre sold 32,000 shares of the stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $61.22, for a total transaction of $1,959,040.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Martin J. Barrington sold 15,300 shares of the 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 sale, the chief executive officer now directly owns 701,074 shares in the company, valued at approximately $45,590,842.22. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.
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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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