Modera Wealth Management LLC Has $1.30 Million Stake in Altria Group Inc (MO)
Modera Wealth Management LLC raised its holdings in shares of Altria Group Inc (NYSE:MO) by 13.8% during the 4th quarter, Holdings Channel reports. The fund owned 18,209 shares of the company’s stock after acquiring an additional 2,204 shares during the quarter. Modera Wealth Management LLC’s holdings in Altria Group were worth $1,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. First Manhattan Co. raised its position in shares of Altria Group by 22.8% during the 4th quarter. First Manhattan Co. now owns 1,125,517 shares of the company’s stock valued at $80,373,000 after purchasing an additional 208,935 shares during the period. Naples Global Advisors LLC raised its position in shares of Altria Group by 6.1% during the 4th quarter. Naples Global Advisors LLC now owns 23,255 shares of the company’s stock valued at $1,661,000 after purchasing an additional 1,342 shares during the period. Stifel Financial Corp increased its holdings in Altria Group by 1.9% in the 2nd quarter. Stifel Financial Corp now owns 845,526 shares of the company’s stock valued at $62,906,000 after acquiring an additional 15,715 shares during the last quarter. BB&T Securities LLC increased its holdings in Altria Group by 3.0% in the 3rd quarter. BB&T Securities LLC now owns 499,388 shares of the company’s stock valued at $31,671,000 after acquiring an additional 14,458 shares during the last quarter. Finally, Hutner Capital Management Inc. increased its holdings in Altria Group by 2.7% in the 3rd quarter. Hutner Capital Management Inc. now owns 90,712 shares of the company’s stock valued at $5,753,000 after acquiring an additional 2,400 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.
In other Altria Group news, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of Altria Group stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $62.34, for a total value of $199,488.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Craig A. Johnson sold 14,953 shares of Altria Group stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $66.59, for a total transaction of $995,720.27. Following the completion of the transaction, the chief executive officer now directly owns 64,809 shares of the company’s stock, valued at $4,315,631.31. The disclosure for this sale can be found here. Insiders sold a total of 28,117 shares of company stock valued at $1,821,707 over the last three months. Corporate insiders own 0.11% of the company’s stock.
Altria Group Inc (NYSE:MO) opened at $65.65 on Friday. Altria Group Inc has a 52 week low of $60.01 and a 52 week high of $77.79. The company has a market cap of $124,764.48, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.91 and a beta of 0.63. The company has a quick ratio of 0.31, a current ratio of 0.64 and a debt-to-equity ratio of 0.85.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The business had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the company posted $0.68 EPS. The business’s revenue was down .4% on a year-over-year basis. sell-side analysts anticipate that Altria Group Inc will post 4 earnings per share for the current fiscal year.
Altria Group declared that its Board of Directors has approved a share repurchase program on Thursday, February 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 15th will be paid a $0.70 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Wednesday, March 14th. Altria Group’s dividend payout ratio (DPR) is presently 49.62%.
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About Altria Group
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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