Segment Wealth Management LLC cut its position in Altria Group (NYSE:MO) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,641 shares of the company’s stock after selling 7,650 shares during the period. Altria Group accounts for about 2.2% of Segment Wealth Management LLC’s holdings, making the stock its 7th largest position. Segment Wealth Management LLC’s holdings in Altria Group were worth $5,354,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Emerald Acquisition Ltd. purchased a new position in Altria Group during the second quarter worth about $233,157,000. Wellington Management Group LLP increased its position in Altria Group by 28.8% in the first quarter. Wellington Management Group LLP now owns 14,356,887 shares of the company’s stock worth $899,602,000 after buying an additional 3,207,663 shares during the period. Bank of Montreal Can purchased a new position in Altria Group during the second quarter worth about $170,990,000. Artemis Investment Management LLP increased its position in Altria Group by 335.8% in the second quarter. Artemis Investment Management LLP now owns 3,078,676 shares of the company’s stock worth $212,320,000 after buying an additional 2,372,165 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in Altria Group by 14.4% in the first quarter. TIAA CREF Investment Management LLC now owns 11,433,664 shares of the company’s stock valued at $716,433,000 after buying an additional 1,437,564 shares during the period. 61.29% of the stock is owned by institutional investors and hedge funds.
Shares of Altria Group (NYSE:MO) traded down 0.39% during midday trading on Friday, hitting $63.87. The stock had a trading volume of 4,428,499 shares. The firm has a 50 day moving average price of $65.49 and a 200-day moving average price of $64.92. Altria Group has a 52-week low of $53.68 and a 52-week high of $70.15. The stock has a market cap of $124.80 billion, a PE ratio of 22.18 and a beta of 0.48.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.01. The company had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $5.01 billion. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the firm earned $0.74 EPS. Equities analysts predict that Altria Group will post $3.05 EPS for the current fiscal 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 given a dividend of $0.61 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 3.82%. The ex-dividend date is Tuesday, September 13th. Altria Group’s dividend payout ratio (DPR) is currently 84.72%.
Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Monday, July 11th. Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $77.35 target price on the stock in a research report on Wednesday, July 20th. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $69.00 target price (up from $64.00) on shares of Altria Group in a research report on Friday, July 15th. Argus set a $73.00 target price on Altria Group and gave the company a “buy” rating in a research report on Monday, August 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $71.00 target price (up from $65.00) on shares of Altria Group in a research report on Monday, June 27th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock 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 stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $66.53, for a total transaction of $731,830.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP James E. Dillard III sold 9,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total value of $600,120.00. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
About Altria Group
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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