Altria Group (NYSE:MO) Shares Sold by Cliftonlarsonallen Wealth Advisors LLC
Cliftonlarsonallen Wealth Advisors LLC lowered its position in Altria Group (NYSE:MO) by 1.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,876 shares of the company’s stock after selling 361 shares during the period. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Altria Group were worth $1,420,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new stake in Altria Group during the fourth quarter valued at $176,000. Sii Investments Inc. WI boosted its stake in Altria Group by 0.7% in the fourth quarter. Sii Investments Inc. WI now owns 45,213 shares of the company’s stock valued at $3,060,000 after buying an additional 321 shares during the last quarter. Good Life Advisors LLC bought a new stake in Altria Group during the fourth quarter valued at $1,701,000. Asset Management One Co. Ltd. raised its position in shares of Altria Group by 891.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,741,164 shares of the company’s stock valued at $253,062,000 after buying an additional 3,363,935 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Altria Group during the fourth quarter valued at about $1,697,000. Institutional investors and hedge funds own 61.97% of the company’s stock.
Shares of Altria Group (MO) traded down 0.03% during midday trading on Friday, hitting $65.52. 9,553,981 shares of the stock were exchanged. The firm has a market capitalization of $126.32 billion, a price-to-earnings ratio of 8.64 and a beta of 0.61. The stock’s 50-day moving average price is $73.93 and its 200-day moving average price is $73.05. Altria Group has a 1-year low of $60.01 and a 1-year high of $77.79.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by $0.01. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The firm had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period last year, the business posted $0.81 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. On average, analysts forecast that Altria Group will post $3.26 EPS for the current year.
Altria Group declared that its Board of Directors has approved a stock repurchase program on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 0.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 10th. Investors of record on Thursday, June 15th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Tuesday, June 13th. Altria Group’s dividend payout ratio (DPR) is currently 32.19%.
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Several research analysts have recently issued reports on the stock. Vetr lowered shares of Altria Group from a “buy” rating to a “hold” rating and set a $80.38 target price on the stock. in a research note on Monday, June 19th. BidaskClub raised shares of Altria Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $62.00 target price on shares of Altria Group in a research note on Friday, May 26th. Cowen and Company set a $78.00 target price on shares of Altria Group and gave the company a “hold” rating in a research note on Friday, July 28th. Finally, Piper Jaffray Companies set a $76.00 price objective on shares of Altria Group and gave the stock a “buy” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $72.97.
In other Altria Group news, Director George Munoz sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total value of $361,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dinyar S. Devitre sold 4,285 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $70.72, for a total value of $303,035.20. Following the completion of the transaction, the director now owns 112,457 shares of the company’s stock, valued at approximately $7,952,959.04. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
Altria Group Company Profile
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. 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 cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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