Northstar Asset Management LLC boosted its position in Altria Group (NYSE:MO) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 9,751 shares of the company’s stock after buying an additional 1 shares during the period. Northstar Asset Management LLC’s holdings in Altria Group were worth $672,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the company. First PREMIER Bank purchased a new position in shares of Altria Group during the second quarter worth approximately $103,000. CapWealth Advisors LLC increased its stake in Altria Group by 6.3% in the first quarter. CapWealth Advisors LLC now owns 2,073 shares of the company’s stock valued at $130,000 after buying an additional 123 shares during the last quarter. Barnett & Company Inc. bought a new stake in Altria Group during the first quarter valued at $180,000. Adirondack Trust Co. increased its stake in Altria Group by 3.1% in the second quarter. Adirondack Trust Co. now owns 2,808 shares of the company’s stock valued at $194,000 after buying an additional 85 shares during the last quarter. Finally, Baker Boyer National Bank bought a new stake in Altria Group during the second quarter valued at $207,000. Hedge funds and other institutional investors own 61.29% of the company’s stock.
Altria Group (NYSE:MO) traded down 0.39% on Friday, reaching $63.87. 4,428,499 shares of the company’s stock were exchanged. The firm has a market capitalization of $124.80 billion, a price-to-earnings ratio of 22.18 and a beta of 0.48. The firm has a 50-day moving average of $65.49 and a 200-day moving average of $64.92. Altria Group has a 12 month low of $53.68 and a 12 month high of $70.15.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The firm earned $6.52 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the firm earned $0.74 EPS. The business’s revenue was down 1.4% on a year-over-year basis. On average, equities analysts expect that Altria Group will post $3.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Thursday, September 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This is an increase from Altria Group’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 3.82%. Altria Group’s dividend payout ratio is 84.72%.
Several research firms have recently weighed in on MO. Vetr downgraded shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.67 target price for the company. in a research report on Thursday. Jefferies Group began coverage on shares of Altria Group in a research report on Wednesday. They issued a “hold” rating and a $70.00 target price for the company. Credit Agricole SA dropped their target price on shares of Altria Group from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, September 15th. Citigroup Inc. began coverage on shares of Altria Group in a research report on Monday, September 12th. They issued a “buy” rating and a $72.00 target price for the company. Finally, Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Thursday, August 4th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $69.44.
In other Altria Group news, SVP James E. Dillard III sold 9,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $66.68, for a total value of $600,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Charles N. Whitaker sold 11,000 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $66.53, for a total transaction of $731,830.00. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.
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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