National Planning Corp decreased its stake in Altria Group (NYSE:MO) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 108,523 shares of the company’s stock after selling 703 shares during the period. National Planning Corp’s holdings in Altria Group were worth $7,308,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in MO. Emerald Acquisition Ltd. purchased a new stake in shares of Altria Group during the second quarter valued at approximately $233,157,000. Wellington Management Group LLP raised its stake in shares of Altria Group by 28.8% in the first quarter. Wellington Management Group LLP now owns 14,356,887 shares of the company’s stock valued at $899,602,000 after buying an additional 3,207,663 shares during the period. Bank of Montreal Can purchased a new stake in shares of Altria Group during the second quarter valued at approximately $170,990,000. Artemis Investment Management LLP raised its stake in shares of Altria Group by 335.8% in the second quarter. Artemis Investment Management LLP now owns 3,078,676 shares of the company’s stock valued at $212,320,000 after buying an additional 2,372,165 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Altria Group by 14.4% in the first quarter. TIAA CREF Investment Management LLC now owns 11,433,664 shares of the company’s stock valued at $716,433,000 after buying an additional 1,437,564 shares during the period. 61.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Altria Group (NYSE:MO) traded down 0.625% during mid-day trading on Monday, hitting $62.835. 518,412 shares of the stock traded hands. The stock has a 50-day moving average of $65.00 and a 200-day moving average of $64.95. Altria Group has a 52 week low of $55.01 and a 52 week high of $70.15. The company has a market cap of $122.78 billion, a price-to-earnings ratio of 21.818 and a beta of 0.52.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.01. The business earned $6.52 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. Analysts anticipate that Altria Group will post $3.05 EPS for the current year.
The firm 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 dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 3.86%. This is a boost from Altria Group’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, September 13th. Altria Group’s dividend payout ratio (DPR) is presently 84.72%.
MO has been the topic of several research analyst reports. Zacks Investment Research lowered Altria Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $72.40 price objective for the company. in a research report on Monday, August 15th. 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 research report on Friday, July 15th. Citigroup Inc. restated a “buy” rating and set a $72.00 price objective on shares of Altria Group in a research report on Monday, September 26th. Finally, Berenberg Bank initiated coverage on Altria Group in a research report on Tuesday, June 14th. They set a “buy” rating and a $74.00 price objective for the company. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus 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 firm’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Charles N. Whitaker sold 11,000 shares of the firm’s stock in a transaction that occurred 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.
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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