Portland Global Advisors LLC Has $271,000 Holdings in Altria Group (MO)
Portland Global Advisors LLC held its position in Altria Group (NYSE:MO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,642 shares of the company’s stock at the end of the 2nd quarter. Portland Global Advisors LLC’s holdings in Altria Group were worth $271,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Pure Financial Advisors Inc. increased its stake in shares of Altria Group by 16.0% in the second quarter. Pure Financial Advisors Inc. now owns 3,722 shares of the company’s stock worth $277,000 after acquiring an additional 513 shares during the period. Atria Investments LLC increased its stake in shares of Altria Group by 1.8% in the second quarter. Atria Investments LLC now owns 81,057 shares of the company’s stock worth $6,036,000 after acquiring an additional 1,461 shares during the period. City Holding Co. increased its stake in shares of Altria Group by 4.6% in the second quarter. City Holding Co. now owns 42,432 shares of the company’s stock worth $3,159,000 after acquiring an additional 1,862 shares during the period. Berson & Corrado Investment Advisors LLC increased its stake in shares of Altria Group by 2.5% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 4,116 shares of the company’s stock worth $307,000 after acquiring an additional 100 shares during the period. Finally, BKD Wealth Advisors LLC increased its stake in shares of Altria Group by 4.5% in the second quarter. BKD Wealth Advisors LLC now owns 20,577 shares of the company’s stock worth $1,532,000 after acquiring an additional 881 shares during the period. Hedge funds and other institutional investors own 61.85% of the company’s stock.
In other 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 transaction, the chief executive officer now directly owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.
A number of analysts have recently weighed in on the stock. Vetr lowered shares of Altria Group from a “buy” rating to a “hold” rating and set a $80.38 price objective on the stock. in a research note on Monday, June 19th. BidaskClub upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. Cowen and Company set a $78.00 price objective on shares of Altria Group and gave the stock a “hold” rating in a research note on Friday, July 28th. Piper Jaffray Companies set a $76.00 price target on shares of Altria Group and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Jefferies Group LLC restated a “hold” rating and set a $70.00 price target (down previously from $71.00) on shares of Altria Group in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Altria Group presently has a consensus rating of “Hold” and an average target price of $72.07.
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Altria Group (NYSE:MO) traded up 1.61% during trading on Friday, reaching $62.49. 8,550,108 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $63.95 and its 200-day moving average price is $70.99. The stock has a market cap of $120.48 billion, a P/E ratio of 8.24 and a beta of 0.63. Altria Group has a one year low of $60.01 and a one year high of $77.79.
Altria Group (NYSE:MO) last posted its quarterly earnings results 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). Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same period last year, the company earned $0.81 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Altria Group will post $3.26 earnings per share for the current fiscal year.
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 outstanding shares. This buyback authorization authorizes the company to purchase up to 0.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend 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 dividend yield of 4.22%. Altria Group’s dividend 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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