Twin Capital Management Inc. Trims Stake in Altria Group (MO)
Twin Capital Management Inc. cut its stake in Altria Group (NYSE:MO) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,610 shares of the company’s stock after selling 8,516 shares during the period. Twin Capital Management Inc.’s holdings in Altria Group were worth $11,290,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Sterling Investment Advisors Ltd. boosted its holdings in Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after acquiring an additional 800 shares during the last quarter. Solaris Asset Management LLC boosted its holdings in Altria Group by 65.7% in the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after acquiring an additional 557 shares during the last quarter. CKW Financial Group bought a new stake in Altria Group in the second quarter valued at approximately $109,000. Perigon Wealth Management LLC boosted its holdings in Altria Group by 4.7% in the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after acquiring an additional 74 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in Altria Group by 97.4% in 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 and hedge funds own 62.30% of the company’s stock.
In other news, 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 transaction of $1,959,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer now owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.
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Several equities analysts have issued reports on the company. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price target on the stock in a research note on Monday. Zacks Investment Research lowered Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Edward Jones raised Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 1st. Berenberg Bank reaffirmed a “hold” rating on shares of Altria Group in a research report on Tuesday, October 31st. Finally, Citigroup Inc. lowered their target price on Altria Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $72.06.
Altria Group (NYSE MO) opened at $64.31 on Wednesday. The stock has a market capitalization of $121,074.66, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 2.59 and a beta of 0.60. 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 12 month low of $60.01 and a 12 month high of $77.79.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. equities research analysts expect that Altria Group will post 3.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th were paid a dividend of $0.66 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date was Thursday, September 14th. This represents a $2.64 annualized dividend and a dividend yield of 4.11%. Altria Group’s dividend payout ratio is presently 33.04%.
Altria Group declared that its board has authorized a stock repurchase program on Thursday, July 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 0.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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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