Point View Wealth Management Inc. Sells 246 Shares of Altria Group (MO)
Point View Wealth Management Inc. cut its stake in shares of Altria Group (NYSE:MO) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,793 shares of the company’s stock after selling 246 shares during the quarter. Point View Wealth Management Inc.’s holdings in Altria Group were worth $1,027,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in MO. Swiss National Bank grew its stake in shares of Altria Group by 25.1% during the 1st quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock valued at $534,678,000 after acquiring an additional 1,501,400 shares during the period. Karp Capital Management Corp bought a new position in Altria Group in the 1st quarter worth approximately $104,292,000. Canada Pension Plan Investment Board boosted its stake in Altria Group by 20.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,586,398 shares of the company’s stock worth $341,549,000 after purchasing an additional 787,000 shares during the period. State Street Corp boosted its stake in Altria Group by 0.9% in the 1st quarter. State Street Corp now owns 74,624,722 shares of the company’s stock worth $5,329,771,000 after purchasing an additional 687,246 shares during the period. Finally, Stevens Capital Management LP bought a new position in Altria Group in the 1st quarter worth approximately $39,943,000. Institutional investors own 62.30% of the company’s stock.
In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the sale, the chief executive officer now owns 701,074 shares in the company, valued at $45,590,842.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dinyar S. Devitre sold 32,000 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $61.22, for a total value of $1,959,040.00. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
Shares of Altria Group (MO) opened at $64.31 on Wednesday. Altria Group has a twelve month low of $60.01 and a twelve month high of $77.79. The firm has a market capitalization of $122,370.00, a price-to-earnings ratio of 20.23, a P/E/G ratio of 2.61 and a beta of 0.60. The company has a current ratio of 0.77, a quick ratio of 0.48 and a debt-to-equity ratio of 1.14.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.03. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. Altria Group’s quarterly revenue was down 1.8% compared to the same quarter last year. equities analysts forecast that Altria Group will post 3.28 earnings per share for the current fiscal year.
Altria Group announced that its board has authorized a share repurchase program on Thursday, July 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 0.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 15th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 4.11%. The ex-dividend date was Thursday, September 14th. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio is presently 33.00%.
MO has been the subject of several recent analyst reports. BidaskClub upgraded Altria Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $69.00 price target for the company in a research note on Wednesday, September 20th. Jefferies Group LLC set a $67.00 price target on Altria Group and gave the stock a “hold” rating in a research note on Thursday, August 24th. Zacks Investment Research downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $76.00 price target on shares of Altria Group in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $72.06.
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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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