Argyle Capital Management Inc. Holds Position in Altria Group (MO)
Argyle Capital Management Inc. continued to hold its position in Altria Group (NYSE:MO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,646 shares of the company’s stock at the close of the 2nd quarter. Argyle Capital Management Inc.’s holdings in Altria Group were worth $346,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Mascoma Wealth Management LLC increased its holdings in shares of Altria Group by 0.3% in the 1st 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. HM Capital Management LLC increased its holdings in shares of Altria Group by 0.3% in the 1st quarter. HM Capital Management LLC now owns 3,435 shares of the company’s stock worth $245,000 after buying an additional 9 shares during the last quarter. Baystate Wealth Management LLC increased its holdings in shares of Altria Group by 0.3% in the 2nd quarter. Baystate Wealth Management LLC now owns 3,675 shares of the company’s stock worth $270,000 after buying an additional 10 shares during the last quarter. Strategic Financial Group LLC increased its holdings in shares of Altria Group by 0.4% in the 1st quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock worth $235,000 after buying an additional 14 shares during the last quarter. Finally, Lafayette Investments Inc. increased its holdings in shares of Altria Group by 0.7% in the 1st quarter. Lafayette Investments Inc. now owns 3,863 shares of the company’s stock worth $276,000 after buying an additional 25 shares during the last quarter. 61.85% of the stock is currently owned by institutional investors and hedge funds.
In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the business’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 transaction, the chief executive officer now 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 available at this hyperlink. Insiders own 0.11% of the company’s stock.
A number of equities analysts have recently commented on the stock. Cowen and Company reissued a “hold” rating on shares of Altria Group in a report on Sunday, September 10th. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price target on the stock. in a report on Wednesday, September 6th. BidaskClub lowered 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. Finally, UBS AG reissued a “hold” rating on shares of Altria Group in a report on Tuesday, August 8th. One 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. Altria Group has an average rating of “Hold” and a consensus target price of $72.07.
Shares of Altria Group (NYSE:MO) opened at 62.56 on Tuesday. The stock has a market cap of $120.62 billion, a PE ratio of 8.25 and a beta of 0.63. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. The firm’s 50-day moving average is $64.02 and its 200 day moving average is $71.09.
Altria Group (NYSE:MO) last announced its quarterly 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 return on equity of 59.50% and a net margin of 56.98%. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts predict that Altria Group will post $3.26 EPS for the current year.
Altria Group declared that its board has authorized a share buyback plan on Thursday, July 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 0.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company 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. This is a boost from Altria Group’s previous quarterly dividend of $0.61. 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 4.22%. Altria Group’s payout ratio is 34.83%.
Altria Group 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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