Altria Group (MO) Holdings Reduced by Burns J W & Co. Inc. NY
Burns J W & Co. Inc. NY decreased its holdings in shares of Altria Group (NYSE:MO) by 0.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,542 shares of the company’s stock after selling 65 shares during the period. Altria Group accounts for about 1.3% of Burns J W & Co. Inc. NY’s holdings, making the stock its 23rd largest holding. Burns J W & Co. Inc. NY’s holdings in Altria Group were worth $4,955,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sterling Investment Advisors Ltd. raised its position in Altria Group by 133.3% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after purchasing an additional 800 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of Altria Group by 4.7% in the 1st quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock worth $118,000 after acquiring an additional 74 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Altria Group by 97.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock worth $121,000 after acquiring an additional 821 shares in the last quarter. Advantage Investment Management LLC raised its position in shares of Altria Group by 1.9% in the 1st quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock worth $125,000 after acquiring an additional 32 shares in the last quarter. Finally, Feltz Wealth PLAN Inc. bought a new position in shares of Altria Group in the 1st quarter worth approximately $134,000. 61.89% of the stock is owned by institutional investors and hedge funds.
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MO has been the subject of several research reports. Vetr raised Altria Group from a “sell” rating to a “buy” rating and set a $80.18 target price for the company in a research report on Monday, June 5th. BidaskClub lowered Altria Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. Piper Jaffray Companies set a $76.00 target price on Altria Group and gave the stock a “buy” rating in a research report on Thursday, July 27th. Stifel Nicolaus decreased their target price on Altria Group from $77.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, July 31st. Finally, Cowen and Company reissued a “hold” rating and issued a $74.00 target price on shares of Altria Group in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $72.07.
In related news, CEO Martin J. Barrington sold 15,300 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 701,074 shares of the company’s stock, valued at $45,590,842.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.
Altria Group (NYSE MO) traded up 0.18% during mid-day trading on Friday, hitting $62.39. The company had a trading volume of 16,567,304 shares. The firm has a market capitalization of $120.29 billion, a PE ratio of 8.23 and a beta of 0.63. Altria Group has a 1-year low of $60.01 and a 1-year high of $77.79. The company has a 50 day moving average of $64.15 and a 200 day moving average of $71.24.
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 business had revenue of $4.37 billion during 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 business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.81 EPS. Analysts predict that Altria Group will post $3.26 earnings per share for the current fiscal year.
The firm also recently disclosed 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. This is an increase from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date is Thursday, September 14th. This represents a $2.64 dividend on an annualized basis and a yield of 4.23%. Altria Group’s payout ratio is 34.83%.
Altria Group declared that its Board of Directors has approved a share repurchase program on Thursday, July 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 0.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
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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