Pioneer Trust Bank N A OR lifted its position in Altria Group (NYSE:MO) by 101.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,764 shares of the company’s stock after acquiring an additional 4,417 shares during the quarter. Pioneer Trust Bank N A OR’s holdings in Altria Group were worth $653,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in MO. Swiss National Bank increased its stake in Altria Group by 25.1% in the 1st quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock valued at $534,678,000 after buying an additional 1,501,400 shares during the period. Karp Capital Management Corp acquired a new position in Altria Group in the 1st quarter valued at approximately $104,292,000. Canada Pension Plan Investment Board increased its stake in Altria Group by 23.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,799,398 shares of the company’s stock valued at $271,353,000 after buying an additional 730,600 shares during the period. State Street Corp increased 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 valued at $5,329,771,000 after buying an additional 687,246 shares during the period. Finally, Stevens Capital Management LP acquired a new position in Altria Group in the 1st quarter valued at approximately $39,943,000. Hedge funds and other institutional investors own 61.89% of the company’s stock.
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Several research firms have weighed in on MO. Cowen and Company reiterated a “hold” rating on shares of Altria Group in a research note on Sunday, September 10th. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price objective on the stock. in a research note on Wednesday, September 6th. BidaskClub lowered shares of Altria Group from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Jefferies Group LLC set a $67.00 price objective on shares of Altria Group and gave the company a “hold” rating in a research note on Thursday, August 24th. Finally, UBS AG reiterated a “hold” rating on shares of Altria Group in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $72.07.
Altria Group (NYSE MO) traded up 0.18% during mid-day trading on Friday, hitting $62.39. 16,567,304 shares of the company traded hands. The stock has a market capitalization of $120.29 billion, a price-to-earnings ratio of 8.23 and a beta of 0.63. The company’s 50-day moving average is $64.15 and its 200-day moving average is $71.24. Altria Group has a one year low of $60.01 and a one year high of $77.79.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business 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 earned $0.81 earnings per share. Altria Group’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts predict that Altria Group will post $3.26 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase 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 4.23%. Altria Group’s dividend payout ratio (DPR) is 34.83%.
Altria Group declared that its Board of Directors has authorized a share buyback program on Thursday, July 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 0.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In other 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 sale, the chief executive officer now directly owns 701,074 shares in the company, valued at $45,590,842.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by company insiders.
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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