Rehmann Capital Advisory Group decreased its stake in Altria Group (NYSE:MO) by 9.1% during the second quarter, Holdings Channel reports. The fund owned 26,516 shares of the company’s stock after selling 2,656 shares during the period. Rehmann Capital Advisory Group’s holdings in Altria Group were worth $1,829,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. First PREMIER Bank bought a new stake in Altria Group during the second quarter worth about $103,000. CapWealth Advisors LLC increased its position in shares of Altria Group by 6.3% in the first quarter. CapWealth Advisors LLC now owns 2,073 shares of the company’s stock valued at $130,000 after buying an additional 123 shares during the period. Adirondack Trust Co. increased its position in shares of Altria Group by 3.1% in the second quarter. Adirondack Trust Co. now owns 2,808 shares of the company’s stock valued at $194,000 after buying an additional 85 shares during the period. Barnett & Company Inc. acquired a new position in shares of Altria Group during the first quarter valued at $180,000. Finally, Baker Boyer National Bank acquired a new position in shares of Altria Group during the second quarter valued at $207,000. Institutional investors own 61.29% of the company’s stock.
Shares of Altria Group (NYSE:MO) traded up 0.65% during trading on Friday, reaching $63.23. 6,599,878 shares of the company’s stock were exchanged. Altria Group has a 52-week low of $55.01 and a 52-week high of $70.15. The company has a market capitalization of $123.55 billion, a PE ratio of 21.95 and a beta of 0.48. The company has a 50 day moving average price of $65.00 and a 200-day moving average price of $64.95.
Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 27th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.80 by $0.01. The firm had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $5.01 billion. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. On average, equities analysts forecast that Altria Group will post $3.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 3.86%. The ex-dividend date is Tuesday, September 13th. This is an increase from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s dividend payout ratio (DPR) is 84.72%.
A number of research firms have recently commented on MO. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.90 price objective for the company. in a report on Tuesday, September 13th. Jefferies Group assumed coverage on shares of Altria Group in a research report on Wednesday, September 21st. They issued a “hold” rating and a $70.00 price objective for the company. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $69.00 price objective (up from $64.00) on shares of Altria Group in a research report on Friday, July 15th. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Thursday, August 4th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $71.00 price objective (up from $65.00) on shares of Altria Group in a research report on Monday, June 27th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $69.44.
In related news, SVP Charles N. Whitaker sold 11,000 shares of Altria Group stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $66.53, for a total value of $731,830.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP James E. Dillard III sold 9,000 shares of Altria Group stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total transaction of $600,120.00. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.
About Altria Group
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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