Burke & Herbert Bank & Trust Co. reduced its stake in Altria Group (NYSE:MO) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,169 shares of the company’s stock after selling 369 shares during the period. Altria Group makes up approximately 1.5% of Burke & Herbert Bank & Trust Co.’s holdings, making the stock its 18th largest position. Burke & Herbert Bank & Trust Co.’s holdings in Altria Group were worth $1,598,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MO. Wellington Management Group LLP raised its position 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 in the last quarter. Bank of Montreal Can bought a new position in Altria Group during the second quarter worth $170,990,000. Artemis Investment Management LLP raised 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. TIAA CREF Investment Management LLC raised 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 worth $716,433,000 after buying an additional 1,437,564 shares during the period. Finally, State Street Corp raised its position in Altria Group by 1.9% in the first quarter. State Street Corp now owns 72,465,487 shares of the company’s stock worth $4,540,692,000 after buying an additional 1,328,172 shares during the period. 61.29% of the stock is owned by hedge funds and other institutional investors.
Altria Group (NYSE:MO) traded down 0.40% during trading on Friday, reaching $62.44. The company had a trading volume of 4,716,586 shares. The firm has a market capitalization of $122.01 billion, a P/E ratio of 21.68 and a beta of 0.52. The stock has a 50 day moving average price of $63.79 and a 200 day moving average price of $64.96. Altria Group has a 52 week low of $56.15 and a 52 week 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. The business 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 business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share. Analysts predict that Altria Group will post $3.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was 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 dividend yield of 3.91%. Altria Group’s dividend payout ratio is presently 84.72%.
MO has been the subject of a number of analyst reports. Zacks Investment Research lowered Altria Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $72.40 price objective for the company. in a research report on Monday, August 15th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $69.00 price objective (up previously from $64.00) on shares of Altria Group in a research report on Friday, July 15th. Citigroup Inc. reaffirmed a “buy” rating and set a $72.00 price objective on shares of Altria Group in a research report on Monday, September 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $71.00 price objective (up previously 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 $69.36.
In other Altria Group news, 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 transaction of $600,120.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $731,830.00. The disclosure for this sale can be found here. 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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