Dempze Nancy E Purchases Shares of 2,740 Altria Group (MO)
Dempze Nancy E purchased a new position in shares of Altria Group (NYSE:MO) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,740 shares of the company’s stock, valued at approximately $204,000.
Several other hedge funds have also modified their holdings of the company. State Street Corp grew its stake in shares of Altria Group by 0.9% during the first quarter. State Street Corp now owns 74,624,722 shares of the company’s stock worth $5,329,771,000 after acquiring an additional 687,246 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Altria Group by 5.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 8,790,490 shares of the company’s stock worth $627,817,000 after acquiring an additional 476,393 shares during the last quarter. Swiss National Bank grew its stake in shares of Altria Group by 25.1% during the first quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock worth $534,678,000 after acquiring an additional 1,501,400 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Altria Group by 7.4% during the first quarter. UBS Asset Management Americas Inc. now owns 5,632,931 shares of the company’s stock worth $402,304,000 after acquiring an additional 387,069 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Altria Group by 9.1% during the first quarter. Parametric Portfolio Associates LLC now owns 4,639,646 shares of the company’s stock worth $331,364,000 after acquiring an additional 388,541 shares during the last quarter. Institutional investors and hedge funds own 61.85% of the company’s stock.
Altria Group (NYSE MO) opened at 62.39 on Monday. The firm has a 50-day moving average price of $64.15 and a 200-day moving average price of $71.24. Altria Group has a one year low of $60.01 and a one year high of $77.79. The firm has a market capitalization of $120.29 billion, a P/E ratio of 8.23 and a beta of 0.63.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter last year, the business posted $0.81 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities analysts anticipate that Altria Group will post $3.26 earnings per share for the current year.
Altria Group declared that its Board of Directors has authorized a stock 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 purchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders 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. This represents a $2.64 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Thursday, September 14th. Altria Group’s dividend payout ratio (DPR) is 34.83%.
A number of equities research analysts have recently weighed in on the company. Cowen and Company restated a “hold” rating on shares of Altria Group in a research note on Sunday, September 10th. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 target price for the company. in a report on Wednesday, September 6th. BidaskClub downgraded 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 target price on Altria Group and gave the stock a “hold” rating in a report on Thursday, August 24th. Finally, UBS AG reaffirmed a “hold” rating on shares of Altria Group in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $72.07.
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In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the transaction, the chief executive officer now directly owns 701,074 shares in the company, valued at approximately $45,590,842.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.
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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