Retirement Income Solutions Inc bought a new position in shares of Altria Group Inc (NYSE:MO) during the 4th quarter, Holdings Channel reports. The institutional investor bought 6,683 shares of the company’s stock, valued at approximately $477,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Balentine LLC raised its stake in shares of Altria Group by 32.4% in the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after purchasing an additional 357 shares during the period. Oak Point Wealth Management acquired a new stake in shares of Altria Group in the fourth quarter valued at about $120,000. INR Advisory Services LLC acquired a new stake in shares of Altria Group in the second quarter valued at about $134,000. Quantum Capital Management LLC NJ acquired a new stake in shares of Altria Group in the third quarter valued at about $114,000. Finally, Northwest Investment Counselors LLC increased its position in shares of Altria Group by 557.0% in the third quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock valued at $115,000 after acquiring an additional 1,543 shares during the last quarter. 62.77% of the stock is currently owned by hedge funds and other institutional investors.
In other Altria Group news, CEO Craig A. Johnson sold 14,953 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $66.59, for a total transaction of $995,720.27. Following the transaction, the chief executive officer now owns 64,809 shares of the company’s stock, valued at $4,315,631.31. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $62.34, for a total value of $199,488.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,117 shares of company stock worth $1,821,707. Company insiders own 0.11% of the company’s stock.
Altria Group Inc (MO) opened at $65.65 on Monday. The firm has a market capitalization of $124,764.48, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 1.91 and a beta of 0.63. The company has a current ratio of 0.64, a quick ratio of 0.31 and a debt-to-equity ratio of 0.85. Altria Group Inc has a 12-month low of $60.01 and a 12-month high of $77.79.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.80 billion. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. equities analysts forecast that Altria Group Inc will post 4 EPS for the current year.
Altria Group declared that its Board of Directors has authorized a share repurchase program on Thursday, February 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Wednesday, March 14th. This is an increase from Altria Group’s previous quarterly dividend of $0.66. Altria Group’s payout ratio is 49.62%.
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Altria Group 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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