Altria Group (MO) Holdings Lifted by Alexandria Capital LLC
Alexandria Capital LLC boosted its stake in shares of Altria Group (NYSE:MO) by 0.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,498 shares of the company’s stock after acquiring an additional 1 shares during the quarter. Alexandria Capital LLC’s holdings in Altria Group were worth $484,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. raised its stake in Altria Group by 25.4% during the first quarter. Hartford Financial Management Inc. now owns 4,542 shares of the company’s stock worth $324,000 after acquiring an additional 920 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in Altria Group by 164.9% during the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 244,398 shares of the company’s stock worth $18,149,000 after acquiring an additional 152,121 shares in the last quarter. SPC Financial Inc. raised its stake in Altria Group by 1.8% during the first quarter. SPC Financial Inc. now owns 11,150 shares of the company’s stock worth $796,000 after acquiring an additional 200 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Altria Group by 10.3% during the first quarter. Westwood Holdings Group Inc. now owns 155,121 shares of the company’s stock worth $11,079,000 after acquiring an additional 14,444 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in Altria Group during the first quarter worth $1,950,000. Hedge funds and other institutional investors own 61.85% of the company’s stock.
Several brokerages have recently commented on MO. Cowen and Company restated a “hold” rating and set a $74.00 target price on shares of Altria Group in a report on Tuesday, July 11th. Jefferies Group LLC restated a “hold” rating and set a $70.00 target price (down previously from $71.00) on shares of Altria Group in a report on Monday, July 17th. BidaskClub cut Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Zacks Investment Research cut Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Vetr upgraded Altria Group from a “sell” rating to a “buy” rating and set a $80.18 target price on the stock in a report on Monday, June 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $72.07.
In related news, CEO Martin J. Barrington sold 15,300 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction of $994,959.00. Following the sale, the chief executive officer now owns 701,074 shares in the company, valued at approximately $45,590,842.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.
Altria Group (NYSE:MO) opened at 62.49 on Friday. The company has a market cap of $120.48 billion, a PE ratio of 8.24 and a beta of 0.63. The company has a 50-day moving average price of $63.95 and a 200 day moving average price of $70.99. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share 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 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 company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. On average, analysts forecast that Altria Group will post $3.26 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be given a dividend of $0.66 per share. 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%. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s payout ratio is currently 34.83%.
Altria Group announced that its Board of Directors has authorized a share repurchase program on Thursday, July 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 0.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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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