Capital Asset Advisory Services LLC purchased a new position in Altria Group (NYSE:MO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,155 shares of the company’s stock, valued at approximately $309,000.
Several other large investors have also added to or reduced their stakes in the company. Stock Yards Bank & Trust Co. grew its stake in shares of Altria Group by 0.3% in the second quarter. Stock Yards Bank & Trust Co. now owns 63,204 shares of the company’s stock worth $4,707,000 after purchasing an additional 160 shares in the last quarter. First Command Bank grew its stake in shares of Altria Group by 8.5% in the second quarter. First Command Bank now owns 2,680 shares of the company’s stock worth $199,000 after purchasing an additional 210 shares in the last quarter. Conservest Capital Advisors Inc. grew its stake in shares of Altria Group by 0.8% in the second quarter. Conservest Capital Advisors Inc. now owns 4,594 shares of the company’s stock worth $342,000 after purchasing an additional 35 shares in the last quarter. Trust Co grew its stake in shares of Altria Group by 3.4% in the first quarter. Trust Co now owns 9,458 shares of the company’s stock worth $675,000 after purchasing an additional 310 shares in the last quarter. Finally, American National Bank boosted its stake in Altria Group by 14.2% during the second quarter. American National Bank now owns 3,712 shares of the company’s stock valued at $276,000 after buying an additional 461 shares in the last quarter. 61.85% of the stock is owned by institutional investors.
Several research analysts recently weighed in on MO shares. BidaskClub cut Altria Group from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $80.00 target price on shares of Altria Group in a research note on Monday, July 31st. Zacks Investment Research cut Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Royal Bank Of Canada reaffirmed a “sell” rating and set a $62.00 target price on shares of Altria Group in a research note on Friday, May 26th. Finally, Vetr raised Altria Group from a “sell” rating to a “buy” rating and set a $80.18 target price for the company in a research note on Monday, June 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $72.07.
In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the transaction, the chief executive officer now directly owns 701,074 shares of the company’s stock, valued at $45,590,842.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by insiders.
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Altria Group (NYSE:MO) traded up 0.16% during trading on Monday, hitting $62.49. The company had a trading volume of 2,411,324 shares. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The company has a market capitalization of $120.48 billion, a price-to-earnings ratio of 8.24 and a beta of 0.63. The firm has a 50-day moving average of $64.15 and a 200 day moving average of $71.24.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $5.02 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. On average, equities research analysts forecast that Altria Group will post $3.26 earnings per share for the current year.
Altria Group declared that its board has initiated a share repurchase plan on Thursday, July 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 0.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.23%. This is a boost from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Thursday, September 14th. Altria Group’s payout ratio is presently 34.83%.
About Altria Group
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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