Regal Investment Advisors LLC decreased its stake in shares of Altria Group Inc (NYSE:MO) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,183 shares of the company’s stock after selling 1,080 shares during the period. Regal Investment Advisors LLC’s holdings in Altria Group were worth $2,424,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in MO. FMR LLC increased its stake in Altria Group by 68.1% during the 1st quarter. FMR LLC now owns 78,710,352 shares of the company’s stock valued at $4,520,337,000 after buying an additional 31,883,878 shares during the period. Geode Capital Management LLC grew its stake in shares of Altria Group by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 24,928,440 shares of the company’s stock worth $1,229,235,000 after purchasing an additional 1,908,626 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Altria Group by 93.3% in the 4th quarter. Teacher Retirement System of Texas now owns 1,994,813 shares of the company’s stock worth $98,524,000 after purchasing an additional 962,612 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Altria Group by 47.3% in the 1st quarter. First Trust Advisors LP now owns 2,913,878 shares of the company’s stock worth $167,344,000 after purchasing an additional 935,757 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Altria Group by 5.4% in the 1st quarter. Janus Henderson Group PLC now owns 18,216,899 shares of the company’s stock worth $1,046,193,000 after purchasing an additional 926,612 shares during the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.
MO has been the topic of several recent research reports. Citigroup set a $45.00 price objective on shares of Altria Group and gave the stock a “sell” rating in a research note on Friday, April 26th. Morgan Stanley lowered their price objective on shares of Altria Group from $49.00 to $48.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 31st. Goldman Sachs Group cut shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price objective on the stock. in a research note on Friday, July 12th. ValuEngine cut shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Finally, Royal Bank of Canada set a $68.00 price objective on shares of Altria Group and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $61.07.
Shares of MO traded down $0.44 during mid-day trading on Wednesday, hitting $45.72. The company’s stock had a trading volume of 4,487,345 shares, compared to its average volume of 6,869,918. The company has a 50-day moving average of $48.91. The company has a market cap of $89.54 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.50 and a beta of 0.38. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.56 and a quick ratio of 0.28. Altria Group Inc has a fifty-two week low of $42.40 and a fifty-two week high of $66.04.
Altria Group (NYSE:MO) last released its earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, hitting the consensus estimate of $1.10. The business had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. Equities research analysts forecast that Altria Group Inc will post 4.17 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 7.00%. The ex-dividend date was Thursday, June 13th. Altria Group’s dividend payout ratio (DPR) is currently 80.20%.
Altria Group declared that its board has authorized a stock repurchase program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of Altria Group stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $52.48, for a total value of $104,960.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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