440 Investment Group LLC grew its holdings in Altria Group (NYSE:MO) by 14.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,786 shares of the company’s stock after acquiring an additional 594 shares during the quarter. 440 Investment Group LLC’s holdings in Altria Group were worth $356,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Baystate Wealth Management LLC raised its stake in Altria Group by 0.3% in the second quarter. Baystate Wealth Management LLC now owns 3,675 shares of the company’s stock valued at $270,000 after purchasing an additional 10 shares in the last quarter. Strategic Financial Group LLC raised its stake in Altria Group by 0.4% in the first quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock valued at $235,000 after purchasing an additional 14 shares in the last quarter. Lafayette Investments Inc. raised its stake in Altria Group by 0.7% in the first quarter. Lafayette Investments Inc. now owns 3,863 shares of the company’s stock valued at $276,000 after purchasing an additional 25 shares in the last quarter. AT Bancorp raised its stake in Altria Group by 0.3% in the first quarter. AT Bancorp now owns 10,545 shares of the company’s stock valued at $753,000 after purchasing an additional 29 shares in the last quarter. Finally, JJJ Advisors Inc. raised its stake in Altria Group by 0.8% in the first quarter. JJJ Advisors Inc. now owns 3,702 shares of the company’s stock valued at $264,000 after purchasing an additional 29 shares in the last quarter. 61.74% of the stock is owned by institutional investors.
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In related news, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $61.22, for a total transaction of $1,959,040.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value of $994,959.00. Following the transaction, the chief executive officer now directly owns 701,074 shares in the company, valued at $45,590,842.22. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
A number of research analysts recently commented on the company. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price target for the company in a research note on Tuesday. Cowen and Company reaffirmed a “hold” rating and issued a $74.00 price target on shares of Altria Group in a research note on Tuesday, July 11th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $70.00 price target (down previously from $71.00) on shares of Altria Group in a research note on Monday, July 17th. BidaskClub downgraded Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research downgraded Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Altria Group has an average rating of “Hold” and a consensus price target of $71.99.
Altria Group (MO) opened at 64.13 on Wednesday. Altria Group has a 52 week low of $60.01 and a 52 week high of $77.79. The firm’s 50-day moving average price is $63.52 and its 200 day moving average price is $69.15. The firm has a market cap of $123.64 billion, a P/E ratio of 8.46 and a beta of 0.64.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $5.02 billion. During the same period in the previous year, the business earned $0.81 EPS. The business’s revenue was up 3.2% on a year-over-year basis. Equities analysts forecast that Altria Group will post $3.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th were issued a $0.66 dividend. The ex-dividend date was Thursday, September 14th. This represents a $2.64 annualized dividend and a dividend yield of 4.12%. This is a boost from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio (DPR) is presently 34.83%.
Altria Group declared that its Board of Directors has authorized a share buyback plan on Thursday, July 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 0.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
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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