Altria Group (MO) Stake Raised by FormulaFolio Investments LLC
FormulaFolio Investments LLC increased its stake in Altria Group (NYSE:MO) by 11.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,290 shares of the company’s stock after buying an additional 2,441 shares during the period. FormulaFolio Investments LLC’s holdings in Altria Group were worth $1,663,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in MO. LVM Capital Management Ltd. MI raised its position in Altria Group by 0.5% in the first quarter. LVM Capital Management Ltd. MI now owns 58,005 shares of the company’s stock valued at $4,143,000 after buying an additional 275 shares during the last quarter. National Pension Service raised its position in Altria Group by 2.7% in the first quarter. National Pension Service now owns 1,282,723 shares of the company’s stock valued at $92,420,000 after buying an additional 34,304 shares during the last quarter. Mutual of Omaha Bank Wealth Management raised its position in Altria Group by 3.3% in the first quarter. Mutual of Omaha Bank Wealth Management now owns 33,041 shares of the company’s stock valued at $2,360,000 after buying an additional 1,065 shares during the last quarter. Quadrant Capital Group LLC raised its position in Altria Group by 9.9% in the first quarter. Quadrant Capital Group LLC now owns 6,673 shares of the company’s stock valued at $468,000 after buying an additional 600 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its position in Altria Group by 11.4% in the first quarter. Koshinski Asset Management Inc. now owns 3,725 shares of the company’s stock valued at $266,000 after buying an additional 381 shares during the last quarter. Institutional investors and hedge funds own 62.39% of the company’s stock.
Altria Group (NYSE:MO) traded up 0.75% during midday trading on Friday, reaching $64.08. The company’s stock had a trading volume of 4,860,642 shares. The firm has a market capitalization of $123.55 billion, a PE ratio of 8.45 and a beta of 0.61. Altria Group has a 1-year low of $60.01 and a 1-year high of $77.79. The firm has a 50 day moving average price of $68.44 and a 200 day moving average price of $72.24.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by $0.01. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. On average, analysts predict that Altria Group will post $3.26 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be given a dividend of $0.66 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.64 dividend on an annualized basis and a yield of 4.12%. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s payout ratio is currently 32.19%.
Altria Group announced that its Board of Directors has authorized a share repurchase program on Thursday, July 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 0.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
MO has been the topic of several research reports. BidaskClub upgraded shares of Altria Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Royal Bank Of Canada upgraded shares of Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 price objective on the stock in a research note on Monday, July 31st. Cowen and Company set a $78.00 price objective on shares of Altria Group and gave the company a “hold” rating in a research note on Friday, July 28th. Wells Fargo & Company reiterated an “outperform” rating and set a $80.00 price objective on shares of Altria Group in a research note on Monday, July 31st. Finally, Jefferies Group LLC set a $67.00 price objective on shares of Altria Group and gave the company a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Altria Group has an average rating of “Hold” and a consensus target price of $72.47.
In related news, CEO Martin J. Barrington sold 15,300 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction of $994,959.00. Following the sale, the chief executive officer now owns 701,074 shares in the company, valued at approximately $45,590,842.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.15% of the company’s stock.
About Altria Group
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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