Mount Vernon Associates Inc. MD acquired a new position in shares of Altria Group (NYSE:MO) during the second quarter, Holdings Channel reports. The firm acquired 3,150 shares of the company’s stock, valued at approximately $217,000.
A number of other large investors have also made changes to their positions in MO. First PREMIER Bank acquired a new stake in shares of Altria Group during the second quarter worth $103,000. CapWealth Advisors LLC raised its stake 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. Adirondack Trust Co. raised its stake 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. Barnett & Company Inc. purchased a new stake in shares of Altria Group during the first quarter valued at approximately $180,000. Finally, Baker Boyer National Bank purchased a new stake in shares of Altria Group during the second quarter valued at approximately $207,000. 61.29% of the stock is currently owned by institutional investors.
Altria Group (NYSE:MO) traded up 0.65% on Friday, hitting $63.23. 6,599,878 shares of the stock were exchanged. The stock has a market capitalization of $123.55 billion, a P/E ratio of 21.95 and a beta of 0.48. The company has a 50 day moving average of $65.00 and a 200 day moving average of $64.95. Altria Group has a one year low of $55.01 and a one year high of $70.15.
Altria Group (NYSE:MO) last issued its earnings results on Wednesday, July 27th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters’ 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 earned $6.52 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts forecast that Altria Group will post $3.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Thursday, September 15th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 3.86%. 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. Altria Group’s dividend payout ratio is presently 84.72%.
Several equities research analysts have recently commented on the company. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.67 price target on the stock. in a research note on Thursday, September 22nd. Credit Agricole SA decreased their price objective 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. Argus set a $73.00 price objective on shares of Altria Group and gave the company a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Monday, July 11th. Finally, Jefferies Group began coverage on shares of Altria Group in a research report on Wednesday, September 21st. They issued a “hold” rating and a $70.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $69.44.
In other news, SVP James E. Dillard III sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were 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 Securities & Exchange Commission, which is available at the SEC website. Also, SVP Charles N. Whitaker sold 11,000 shares of the company’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 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.
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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