Oliver Luxxe Assets LLC Has $1.34 Million Stake in Altria Group (MO)
Oliver Luxxe Assets LLC lowered its position in Altria Group (NYSE:MO) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,010 shares of the company’s stock after selling 236 shares during the period. Oliver Luxxe Assets LLC’s holdings in Altria Group were worth $1,341,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in MO. Sterling Investment Advisors Ltd. grew its position in Altria Group by 133.3% during the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after buying an additional 800 shares during the period. Solaris Asset Management LLC grew its position in Altria Group by 65.7% during the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after buying an additional 557 shares during the period. CKW Financial Group bought a new position in Altria Group during the second quarter valued at about $109,000. Perigon Wealth Management LLC grew its position in Altria Group by 4.7% during the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after buying an additional 74 shares during the period. Finally, Proficio Capital Partners LLC grew its position in Altria Group by 97.4% during the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after buying an additional 821 shares during the period. Institutional investors own 62.30% of the company’s stock.
Altria Group (MO) opened at $64.31 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. Altria Group has a 1 year low of $60.01 and a 1 year high of $77.79. The company has a market cap of $122,370.00, a P/E ratio of 20.23, a PEG ratio of 2.61 and a beta of 0.60.
Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the business earned $0.82 earnings per share. Altria Group’s revenue was down 1.8% compared to the same quarter last year. analysts predict that Altria Group will post 3.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th were given a $0.66 dividend. This is a positive change 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 4.11%. The ex-dividend date was Thursday, September 14th. Altria Group’s dividend payout ratio (DPR) is 33.00%.
Altria Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 0.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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In other news, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total value of $1,959,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 701,074 shares of the company’s stock, valued at $45,590,842.22. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.
Several equities analysts recently weighed in on the stock. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price target for the company in a research report on Monday. Berenberg Bank restated a “hold” rating on shares of Altria Group in a research report on Tuesday, October 31st. Citigroup Inc. reduced their price target on shares of Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, October 30th. Edward Jones upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 1st. Finally, Royal Bank Of Canada restated a “hold” rating and set a $62.00 price target on shares of Altria Group in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Altria Group presently has an average rating of “Buy” and an average price target of $72.06.
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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