M&R Capital Management Inc. purchased a new position in Altria Group (NYSE:MO) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 6,693 shares of the company’s stock, valued at approximately $461,000.
Other institutional investors have also bought and sold shares of the company. Investment Centers of America Inc. raised its stake in Altria Group by 15.6% in the first quarter. Investment Centers of America Inc. now owns 305,759 shares of the company’s stock worth $19,166,000 after buying an additional 41,309 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of Altria Group by 19.1% in the first quarter. Glenmede Trust Co. NA now owns 720,656 shares of the company’s stock valued at $45,154,000 after buying an additional 115,677 shares in the last quarter. Wade G W & Inc. increased its position in Altria Group by 37.1% in the first quarter. Wade G W & Inc. now owns 5,446 shares of the company’s stock valued at $341,000 after buying an additional 1,474 shares during the last quarter. New Century Investment Management Inc. increased its position in Altria Group by 0.7% in the first quarter. New Century Investment Management Inc. now owns 19,544 shares of the company’s stock valued at $1,225,000 after buying an additional 128 shares during the last quarter. Finally, RKL Wealth Management LLC increased its position in Altria Group by 502.8% in the first quarter. RKL Wealth Management LLC now owns 46,130 shares of the company’s stock valued at $2,891,000 after buying an additional 38,477 shares during the last quarter. Hedge funds and other institutional investors own 61.29% of the company’s stock.
Shares of Altria Group (NYSE:MO) opened at 61.22 on Thursday. Altria Group has a 52-week low of $55.39 and a 52-week high of $70.15. The company has a market capitalization of $119.62 billion, a price-to-earnings ratio of 21.26 and a beta of 0.52. The company’s 50 day moving average price is $64.62 and its 200 day moving average price is $64.97.
Altria Group (NYSE:MO) last announced its quarterly 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. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The company earned $6.52 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. On average, analysts predict that Altria Group will post $3.05 EPS for the current 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 dividend of $0.61 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This is a positive change from Altria Group’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 3.99%. Altria Group’s dividend payout ratio is presently 84.72%.
A number of analysts have recently issued reports on the company. Berenberg Bank assumed coverage on Altria Group in a research report on Tuesday, June 14th. They set a “buy” rating and a $74.00 price target for the company. Zacks Investment Research cut Altria Group from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.87 price objective on the stock in a report on Monday, September 12th. Jefferies Group began coverage on Altria Group in a report on Wednesday, September 21st. They set a “hold” rating and a $70.00 price objective on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and set a $71.00 price objective (up from $65.00) on shares of Altria Group in a report on Monday, June 27th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Altria Group has a consensus rating of “Buy” and an average price target of $69.44.
In other news, SVP James E. Dillard III sold 9,000 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Charles N. Whitaker sold 11,000 shares of the firm’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. Corporate 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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