Capital Advisors Inc. OK raised its position in shares of Altria Group (NYSE:MO) by 6.3% during the second quarter, Holdings Channel reports. The institutional investor owned 14,594 shares of the company’s stock after buying an additional 868 shares during the period. Capital Advisors Inc. OK’s holdings in Altria Group were worth $1,006,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the stock. Emerald Acquisition Ltd. purchased a new stake in Altria Group during the second quarter worth approximately $233,157,000. Wellington Management Group LLP boosted its stake 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 stake in Altria Group during the second quarter worth approximately $170,990,000. Artemis Investment Management LLP boosted its stake 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 boosted its stake 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. Institutional investors own 61.29% of the company’s stock.
Altria Group (NYSE:MO) traded down 0.88% during midday trading on Monday, hitting $63.31. 1,621,909 shares of the stock were exchanged. The firm’s 50-day moving average is $65.49 and its 200 day moving average is $64.92. The stock has a market cap of $123.71 billion, a price-to-earnings ratio of 21.98 and a beta of 0.48. Altria Group has a 52 week low of $53.68 and a 52 week high of $70.15.
Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 27th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. The company earned $6.52 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. Equities research analysts expect that Altria Group will post $3.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 3.82%. This is a boost from Altria Group’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, September 13th. Altria Group’s dividend payout ratio is presently 84.72%.
MO has been the topic of a number of research analyst reports. Zacks Investment Research cut 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 target on the stock. in a report on Monday, August 15th. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $69.00 price target (up previously from $64.00) on shares of Altria Group in a report on Friday, July 15th. Berenberg Bank initiated coverage on Altria Group in a report on Tuesday, June 14th. They set a “buy” rating and a $74.00 price target on the stock. Finally, Citigroup Inc. initiated coverage on Altria Group in a report on Monday, September 12th. They set a “buy” rating and a $72.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Altria Group currently has an average rating of “Buy” and a consensus target price of $69.44.
In other news, SVP James E. Dillard III sold 9,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total value of $600,120.00. The transaction was disclosed in a legal 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 on 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. 0.15% of the stock is owned by corporate 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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