Kwmg LLC increased its position in Altria Group (NYSE:MO) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,978 shares of the company’s stock after buying an additional 1 shares during the period. Kwmg LLC’s holdings in Altria Group were worth $296,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of MO. Sterling Investment Advisors Ltd. raised 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 purchasing an additional 800 shares during the period. Perigon Wealth Management LLC raised 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 purchasing an additional 74 shares during the period. Proficio Capital Partners LLC raised 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 purchasing an additional 821 shares during the period. Advantage Investment Management LLC raised its position in Altria Group by 1.9% during the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock valued at $125,000 after purchasing an additional 32 shares during the period. Finally, Feltz Wealth PLAN Inc. purchased a new stake in Altria Group during the first quarter valued at approximately $134,000. Institutional investors own 61.89% of the company’s stock.
Shares of Altria Group (NYSE MO) traded down 0.1052% on Friday, reaching $62.2145. The company had a trading volume of 6,415,824 shares. The company’s 50 day moving average price is $64.48 and its 200-day moving average price is $71.33. Altria Group has a 1-year low of $60.01 and a 1-year high of $77.79. The stock has a market capitalization of $119.95 billion, a P/E ratio of 8.2045 and a beta of 0.63.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter last year, the business posted $0.81 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts predict that Altria Group will post $3.26 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.23%. The ex-dividend date is Thursday, September 14th. This is an increase from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio (DPR) is 32.19%.
Altria Group declared that its board has approved a stock buyback program on Thursday, July 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 0.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
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In related news, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the sale, the chief executive officer now owns 701,074 shares in the company, valued at approximately $45,590,842.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.
A number of equities research analysts have issued reports on the company. Cowen and Company set a $78.00 price objective on Altria Group and gave the company a “hold” rating in a research report on Friday, July 28th. Berenberg Bank set a $72.00 target price on Altria Group and gave the company a “hold” rating in a research note on Sunday, August 6th. UBS AG cut their target price on Altria Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, July 31st. Stifel Nicolaus cut their target price on Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, July 31st. Finally, Piper Jaffray Companies initiated coverage on Altria Group in a research note on Wednesday, May 24th. They set an “overweight” rating and a $76.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Altria Group presently has an average rating of “Hold” and a consensus target price of $71.81.
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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