Oakworth Capital Inc. Has $863,000 Stake in Altria Group (MO)
Oakworth Capital Inc. grew its position in Altria Group (NYSE:MO) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,591 shares of the company’s stock after purchasing an additional 325 shares during the quarter. Oakworth Capital Inc.’s holdings in Altria Group were worth $863,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of MO. Swiss National Bank boosted its stake in shares of Altria Group by 25.1% in the 1st quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock valued at $534,678,000 after purchasing an additional 1,501,400 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of Altria Group in the 1st quarter valued at $104,292,000. Canada Pension Plan Investment Board boosted its stake in shares of Altria Group by 23.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,799,398 shares of the company’s stock valued at $271,353,000 after purchasing an additional 730,600 shares during the last quarter. State Street Corp boosted its stake in shares of Altria Group by 0.9% in the 1st quarter. State Street Corp now owns 74,624,722 shares of the company’s stock valued at $5,329,771,000 after purchasing an additional 687,246 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of Altria Group in the 1st quarter valued at $39,943,000. 61.85% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on MO shares. BidaskClub lowered shares of Altria Group from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Altria Group in a research note on Monday, July 31st. Cowen and Company raised shares of Altria Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $64.00 to $71.00 in a research note on Tuesday, September 26th. Zacks Investment Research lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Royal Bank Of Canada raised shares of Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 target price on the stock in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $71.73.
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In other 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 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 document filed with the SEC, which is accessible through this link. Also, Director Dinyar S. Devitre sold 32,000 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total transaction of $1,959,040.00. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
Altria Group (NYSE:MO) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year.
Altria Group announced that its Board of Directors has approved a share buyback plan on Thursday, July 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 0.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Thursday, September 14th. This is a boost from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s payout ratio is 34.83%.
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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