Terra Nova Asset Management LLC lowered its position in shares of Altria Group (NYSE:MO) by 1.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 22,547 shares of the company’s stock after selling 415 shares during the period. Altria Group comprises approximately 2.7% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 6th largest position. Terra Nova Asset Management LLC’s holdings in Altria Group were worth $1,555,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of MO. First PREMIER Bank acquired a new stake in shares of Altria Group during the second quarter valued at approximately $103,000. CapWealth Advisors LLC boosted 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. Barnett & Company Inc. acquired a new stake in shares of Altria Group during the first quarter valued at approximately $180,000. Adirondack Trust Co. boosted 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. Finally, Baker Boyer National Bank acquired a new stake in shares of Altria Group during the second quarter valued at approximately $207,000. Institutional investors and hedge funds own 61.29% of the company’s stock.
Shares of Altria Group (NYSE:MO) traded up 0.23% during midday trading on Friday, hitting $61.92. The company had a trading volume of 6,315,259 shares. Altria Group has a 12-month low of $56.15 and a 12-month high of $70.15. The firm has a market capitalization of $120.99 billion, a P/E ratio of 21.50 and a beta of 0.52. The firm’s 50-day moving average is $64.36 and its 200-day moving average is $64.95.
Altria Group (NYSE:MO) last released its earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.01. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The firm had revenue of $6.52 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts predict that Altria Group will post $3.05 earnings per share for the current fiscal year.
The business 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 is a positive change from Altria Group’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $2.44 annualized dividend and a yield of 3.94%. Altria Group’s dividend payout ratio is presently 84.72%.
Several equities research analysts have commented on the stock. Vetr cut shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.90 price target on the stock. in a research report on Tuesday, September 13th. Jefferies Group started coverage on Altria Group in a research note on Wednesday, September 21st. They issued a “hold” rating and a $70.00 price target on the stock. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $69.00 price target (up previously from $64.00) on shares of Altria Group in a research note on Friday, July 15th. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Thursday, August 4th. Finally, Argus set a $73.00 price target on Altria Group and gave the stock a “buy” rating in a research note on Monday, August 1st. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Altria Group currently has an average rating of “Buy” and a consensus price target of $69.44.
In other Altria Group news, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP James E. Dillard III sold 9,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $66.68, for a total value of $600,120.00. The disclosure for this sale can be found here. 0.15% of the stock is owned by company 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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