American Economic Planning Group Inc. ADV raised its position in shares of Altria Group (NYSE:MO) by 9.6% during the second quarter, Holdings Channel reports. The fund owned 3,664 shares of the company’s stock after buying an additional 320 shares during the period. American Economic Planning Group Inc. ADV’s holdings in Altria Group were worth $253,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Traynor Capital Management Inc. raised its stake in Altria Group by 12.7% in the first quarter. Traynor Capital Management Inc. now owns 14,040 shares of the company’s stock valued at $879,000 after buying an additional 1,581 shares during the period. V Wealth Management LLC purchased a new stake in Altria Group during the first quarter valued at $338,000. Montrusco Bolton Investments Inc. purchased a new stake in Altria Group during the first quarter valued at $378,000. FirstMerit Bank N A Trustee raised its stake in Altria Group by 0.9% in the first quarter. FirstMerit Bank N A Trustee now owns 61,295 shares of the company’s stock valued at $3,840,000 after buying an additional 554 shares during the period. Finally, Boston Advisors LLC raised its stake in Altria Group by 14.9% in the first quarter. Boston Advisors LLC now owns 370,875 shares of the company’s stock valued at $23,239,000 after buying an additional 48,180 shares during the period. 61.29% of the stock is currently owned by hedge funds and other institutional investors.
Altria Group (NYSE:MO) opened at 63.23 on Friday. Altria Group has a 12 month low of $55.01 and a 12 month high of $70.15. The stock has a 50 day moving average of $65.00 and a 200-day moving average of $64.95. The company has a market cap of $123.55 billion, a P/E ratio of 21.95 and a beta of 0.48.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.01. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The company had revenue of $6.52 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period in the prior year, the firm posted $0.74 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. Equities research analysts expect that Altria Group will post $3.05 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This is a positive change from Altria Group’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 3.86%. Altria Group’s dividend payout ratio is currently 84.72%.
A number of equities research analysts recently commented on the stock. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.90 price objective on the stock. in a report on Tuesday, September 13th. Jefferies Group assumed coverage on shares of Altria Group in a report on Wednesday, September 21st. They set a “hold” rating and a $70.00 price objective on the stock. Goldman Sachs Group Inc. restated a “neutral” rating and set a $69.00 price objective (up from $64.00) on shares of Altria Group in a report on Friday, July 15th. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Thursday, August 4th. Finally, Stifel Nicolaus restated a “buy” rating and set a $71.00 price objective (up from $65.00) on shares of Altria Group in a report on Monday, June 27th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $69.44.
In related news, SVP James E. Dillard III sold 9,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $66.68, for a total transaction of $600,120.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Charles N. Whitaker sold 11,000 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $66.53, for a total transaction of $731,830.00. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.
Altria Group Company Profile
Altria Group, Inc is a holding company. 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 large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.
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