Bar Harbor Trust Services Maintains Stake in Altria Group (MO)
Bar Harbor Trust Services held its position in shares of Altria Group (NYSE:MO) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,078 shares of the company’s stock at the end of the first quarter. Bar Harbor Trust Services’ holdings in Altria Group were worth $363,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in MO. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Altria Group by 28.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 143,863 shares of the company’s stock worth $10,275,000 after buying an additional 32,064 shares during the last quarter. Mosaic Family Wealth LLC boosted its stake in Altria Group by 21.7% in the first quarter. Mosaic Family Wealth LLC now owns 7,904 shares of the company’s stock worth $564,000 after buying an additional 1,412 shares during the period. Denver Investment Advisors LLC boosted its stake in Altria Group by 71.8% in the first quarter. Denver Investment Advisors LLC now owns 11,477 shares of the company’s stock worth $820,000 after buying an additional 4,795 shares during the period. First Personal Financial Services boosted its stake in Altria Group by 18.9% in the first quarter. First Personal Financial Services now owns 8,661 shares of the company’s stock worth $619,000 after buying an additional 1,379 shares during the period. Finally, Engineers Gate Manager LP boosted its stake in Altria Group by 302.3% in the first quarter. Engineers Gate Manager LP now owns 35,000 shares of the company’s stock worth $2,500,000 after buying an additional 26,300 shares during the period. Hedge funds and other institutional investors own 61.89% of the company’s stock.
Shares of Altria Group (NYSE MO) traded up 0.16% during midday trading on Wednesday, reaching $63.91. 1,133,371 shares of the company’s stock were exchanged. The stock has a market cap of $123.22 billion, a price-to-earnings ratio of 8.43 and a beta of 0.61. Altria Group has a one year low of $60.01 and a one year high of $77.79. The firm has a 50 day moving average of $68.44 and a 200-day moving average of $72.24.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.01. The company 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%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 earnings per share. On average, equities research 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 given a dividend of $0.66 per share. The ex-dividend date is Thursday, September 14th. This is a boost from Altria Group’s previous quarterly dividend of $0.61. This represents a $2.64 dividend on an annualized basis and a yield of 4.14%. Altria Group’s dividend payout ratio is currently 32.19%.
Altria Group declared that its board has authorized a share buyback program on Thursday, July 27th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 0.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
A number of equities research analysts recently commented on the stock. BidaskClub cut shares of Altria Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Jefferies Group LLC set a $67.00 price target on shares of Altria Group and gave the stock a “hold” rating in a report on Thursday, August 24th. UBS AG reaffirmed a “hold” rating on shares of Altria Group in a report on Tuesday, August 8th. Berenberg Bank set a $72.00 price target on shares of Altria Group and gave the stock a “hold” rating in a report on Sunday, August 6th. Finally, Zacks Investment Research raised shares of Altria Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. 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 company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total transaction of $994,959.00. Following the completion of the transaction, the chief executive officer now directly owns 701,074 shares in the company, valued at $45,590,842.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.11% 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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