Altria Group (MO) Shares Bought by Mosaic Family Wealth LLC
Mosaic Family Wealth LLC increased its position in shares of Altria Group (NYSE:MO) by 21.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,904 shares of the company’s stock after buying an additional 1,412 shares during the period. Mosaic Family Wealth LLC’s holdings in Altria Group were worth $564,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MO. Feltz Wealth PLAN Inc. bought a new position in Altria Group during the first quarter worth $134,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Altria Group by 102.5% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,669 shares of the company’s stock worth $191,000 after buying an additional 1,351 shares during the last quarter. Mascoma Wealth Management LLC boosted its position in Altria Group by 0.3% in the first quarter. Mascoma Wealth Management LLC now owns 2,701 shares of the company’s stock worth $193,000 after buying an additional 8 shares during the last quarter. Gemmer Asset Management LLC boosted its position in Altria Group by 13.4% in the first quarter. Gemmer Asset Management LLC now owns 2,716 shares of the company’s stock worth $194,000 after buying an additional 320 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. bought a new position in Altria Group during the first quarter worth $201,000. Hedge funds and other institutional investors own 61.89% of the company’s stock.
Shares of Altria Group (NYSE MO) traded up 0.66% during mid-day trading on Tuesday, hitting $64.35. 961,995 shares of the company were exchanged. The company has a 50 day moving average of $68.44 and a 200 day moving average of $72.24. Altria Group has a 52 week low of $60.01 and a 52 week high of $77.79. The company has a market capitalization of $124.07 billion, a P/E ratio of 8.49 and a beta of 0.61.
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. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. Altria Group’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 EPS. Equities analysts anticipate that Altria Group will post $3.26 earnings per share for the current year.
Altria Group announced that its board has initiated a share repurchase plan on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 0.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be paid a $0.66 dividend. 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 4.13%. This is a boost from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio (DPR) is currently 32.19%.
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A number of research analysts have weighed in on MO shares. BidaskClub cut shares of Altria Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Vetr upgraded shares of Altria Group from a “sell” rating to a “buy” rating and set a $80.18 target price on the stock in a research note on Monday, June 5th. Piper Jaffray Companies set a $76.00 target price on shares of Altria Group and gave the company a “buy” rating in a research note on Thursday, July 27th. Stifel Nicolaus dropped their target price on shares of Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, July 31st. Finally, Cowen and Company reiterated a “hold” rating and issued a $74.00 target price on shares of Altria Group in a research note on Tuesday, July 11th. One equities 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 assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $72.47.
In related news, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by company insiders.
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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