Huntington National Bank raised its stake in Altria Group (NYSE:MO) by 18.1% during the second quarter, Holdings Channel reports. The institutional investor owned 282,611 shares of the company’s stock after buying an additional 43,412 shares during the period. Huntington National Bank’s holdings in Altria Group were worth $19,489,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. First PREMIER Bank acquired a new stake in Altria Group during the second quarter valued at about $103,000. CapWealth Advisors LLC increased its position in shares of 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 period. Barnett & Company Inc. purchased a new position in shares of Altria Group during the first quarter valued at $180,000. Adirondack Trust Co. increased its position in shares of 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 period. Finally, Baker Boyer National Bank purchased a new position in shares of Altria Group during the second quarter valued at $207,000. Institutional investors own 61.29% of the company’s stock.
Altria Group (NYSE:MO) traded down 0.40% during mid-day trading on Friday, hitting $62.44. 4,716,586 shares of the company were exchanged. The stock’s 50 day moving average is $63.79 and its 200-day moving average is $64.96. The company has a market cap of $122.01 billion, a price-to-earnings ratio of 21.68 and a beta of 0.52. Altria Group has a 12-month low of $56.15 and a 12-month high of $70.15.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share for the quarter, topping 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 firm had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that Altria Group will post $3.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Thursday, September 15th were given a $0.61 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This is a positive change from Altria Group’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 3.91%. Altria Group’s payout ratio is currently 84.72%.
MO has been the subject of several analyst reports. Argus set a $73.00 target price on shares of Altria Group and gave the company a “buy” rating in a research note on Monday, August 1st. Vetr downgraded shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $75.77 target price for the company. in a research note on Monday, August 1st. Stifel Nicolaus restated a “buy” rating and issued a $71.00 target price (up from $65.00) on shares of Altria Group in a research note on Monday, June 27th. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Monday, July 11th. Finally, Citigroup Inc. initiated coverage on shares of Altria Group in a research note on Monday, September 12th. They set a “buy” rating and a $72.00 price objective on the stock. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $69.36.
In related news, SVP James E. Dillard III sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total value of $600,120.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Charles N. Whitaker sold 11,000 shares of the business’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 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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