Altria Group (MO) Stake Increased by Alpha Cubed Investments LLC
Alpha Cubed Investments LLC lifted its holdings in Altria Group (NYSE:MO) by 6.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,046 shares of the company’s stock after purchasing an additional 1,353 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Altria Group were worth $1,567,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Sterling Investment Advisors Ltd. raised its stake in Altria Group by 133.3% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after acquiring an additional 800 shares during the last quarter. Perigon Wealth Management LLC raised its stake in 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 during the last quarter. Proficio Capital Partners LLC raised its stake in 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 during the last quarter. Advantage Investment Management LLC raised its stake in 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 during the last quarter. Finally, American Beacon Advisors Inc. purchased a new position in Altria Group in the 1st quarter worth $164,000. 61.85% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. BidaskClub lowered Altria Group from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Wells Fargo & Company reiterated an “outperform” rating and set a $80.00 price objective on shares of Altria Group in a research note on Monday, July 31st. Cowen and Company upgraded Altria Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $64.00 to $71.00 in a research note on Tuesday, September 26th. Vetr upgraded Altria Group from a “sell” rating to a “buy” rating and set a $80.18 price objective for the company in a research note on Monday, June 5th. Finally, Zacks Investment Research lowered Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $71.57.
In other Altria Group news, Director Dinyar S. Devitre sold 32,000 shares of the stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $61.22, for a total value of $1,959,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $65.03, for a total transaction of $994,959.00. Following the completion of the transaction, the chief executive officer now directly owns 701,074 shares of the company’s stock, valued at $45,590,842.22. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
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Altria Group (NYSE MO) opened at 63.42 on Friday. Altria Group has a 52 week low of $60.01 and a 52 week high of $77.79. The stock has a market cap of $122.27 billion, a price-to-earnings ratio of 8.36 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 (NYSE:MO) last issued its earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ 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 period last year, the business posted $0.81 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts expect that Altria Group will post $3.26 EPS for the current fiscal year.
Altria Group declared that its Board of Directors has initiated a share buyback plan on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 0.7% of its shares through open market purchases. Shares repurchase plans are typically an indication 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 issued a $0.66 dividend. The ex-dividend date 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 yield of 4.16%. Altria Group’s dividend payout ratio (DPR) 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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