Marathon Capital Management cut its stake in shares of Altria Group (NYSE:MO) by 11.2% during the second quarter, Holdings Channel reports. The firm owned 3,630 shares of the company’s stock after selling 457 shares during the period. Marathon Capital Management’s holdings in Altria Group were worth $250,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of MO. Emerald Acquisition Ltd. acquired a new stake in shares of Altria Group during the second quarter valued at $233,157,000. Vanguard Group Inc. increased its stake in shares of Altria Group by 2.8% in the second quarter. Vanguard Group Inc. now owns 125,294,855 shares of the company’s stock valued at $8,640,334,000 after buying an additional 3,366,581 shares during the period. Wellington Management Group LLP increased 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 acquired a new stake in shares of Altria Group during the second quarter valued at $170,990,000. Finally, Artemis Investment Management LLP increased 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. 61.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Altria Group (NYSE:MO) opened at 61.22 on Thursday. Altria Group has a 12 month low of $55.39 and a 12 month high of $70.15. The company’s 50-day moving average is $64.62 and its 200-day moving average is $64.97. The firm has a market cap of $119.62 billion, a price-to-earnings ratio of 21.26 and a beta of 0.52.
Altria Group (NYSE:MO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.01. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts forecast that Altria Group will post $3.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.61 per share. The ex-dividend date is Tuesday, September 13th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.99%. This is a positive change from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s payout ratio is currently 84.72%.
MO has been the subject of several recent research reports. Berenberg Bank initiated coverage on shares of Altria Group in a research note on Tuesday, June 14th. They set a “buy” rating and a $74.00 target price for the company. Stifel Nicolaus restated a “buy” rating and issued a $71.00 price objective (up previously from $65.00) on shares of Altria Group in a research report on Monday, June 27th. Zacks Investment Research downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $69.00 price objective (up previously from $64.00) on shares of Altria Group in a research report on Friday, July 15th. Finally, Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $77.35 price objective for the company in a research report on Wednesday, July 20th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $69.44.
In other Altria Group news, SVP Charles N. Whitaker sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $66.53, for a total value of $731,830.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP James E. Dillard III sold 9,000 shares of the company’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 disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.
Altria Group Company Profile
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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