Delta Asset Management LLC TN Has $2.03 Million Stake in Altria Group (MO)
Delta Asset Management LLC TN decreased its position in Altria Group (NYSE:MO) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,240 shares of the company’s stock after selling 19 shares during the period. Delta Asset Management LLC TN’s holdings in Altria Group were worth $2,028,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of MO. Sterling Investment Advisors Ltd. increased its position in Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after buying an additional 800 shares in the last quarter. Perigon Wealth Management LLC increased its position in Altria Group by 4.7% in the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after buying an additional 74 shares in the last quarter. Proficio Capital Partners LLC increased its position in Altria Group by 97.4% in the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after buying an additional 821 shares in the last quarter. Advantage Investment Management LLC increased its position in Altria Group by 1.9% in the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock valued at $125,000 after buying an additional 32 shares in the last quarter. Finally, Feltz Wealth PLAN Inc. bought a new position in Altria Group during the first quarter valued at about $134,000. Hedge funds and other institutional investors own 62.39% of the company’s stock.
Shares of Altria Group (NYSE MO) traded up 0.75% during midday trading on Friday, hitting $64.08. 4,860,642 shares of the stock traded hands. The stock has a market cap of $123.55 billion, a price-to-earnings ratio of 8.45 and a beta of 0.61. The firm has a 50-day moving average price of $68.44 and a 200 day moving average price of $72.24. Altria Group has a one year low of $60.01 and a one year high of $77.79.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by $0.01. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the prior year, the company earned $0.81 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. Analysts anticipate that Altria Group will post $3.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend 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 dividend payout ratio is currently 32.19%.
Altria Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 0.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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MO has been the subject of several research analyst reports. BidaskClub upgraded shares of Altria Group from a “strong sell” rating to a “sell” rating in a research note 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 for the company 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 restated an “outperform” rating and issued 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 given a buy rating and one has given a strong buy rating to the company. Altria Group has a consensus rating of “Hold” and an average target price of $72.47.
In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction dated Thursday, August 10th. The shares were 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 of the company’s stock, valued at approximately $45,590,842.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by corporate insiders.
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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