Brighton Jones LLC cut its stake in shares of Altria (NYSE:MO) by 21.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,722 shares of the company’s stock after selling 2,076 shares during the period. Brighton Jones LLC’s holdings in Altria were worth $481,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in MO. Taylor Hoffman Wealth Management purchased a new position in Altria in the fourth quarter worth approximately $120,000. Oak Point Wealth Management purchased a new stake in shares of Altria during the 4th quarter worth approximately $120,000. Quantum Capital Management LLC NJ purchased a new stake in shares of Altria during the 3rd quarter worth approximately $114,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Altria during the 4th quarter worth approximately $134,000. Finally, Acropolis Investment Management LLC lifted its position in shares of Altria by 1,202.0% during the 4th quarter. Acropolis Investment Management LLC now owns 1,953 shares of the company’s stock worth $139,000 after buying an additional 1,803 shares during the last quarter. Institutional investors and hedge funds own 63.05% of the company’s stock.
Altria opened at $55.29 on Friday, MarketBeat Ratings reports. The stock has a market capitalization of $103.85 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.60 and a beta of 0.63. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.34 and a current ratio of 0.65. Altria has a 12-month low of $54.58 and a 12-month high of $55.29.
Altria (NYSE:MO) last released its earnings results on Thursday, April 26th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.02. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.63 billion. Altria had a net margin of 41.85% and a return on equity of 49.92%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. analysts forecast that Altria will post 4 earnings per share for the current year.
Altria announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Friday, June 15th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $2.80 annualized dividend and a dividend yield of 5.06%. Altria’s payout ratio is currently 82.84%.
In related news, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $62.34, for a total transaction of $199,488.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian W. Quigley sold 3,464 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $62.40, for a total transaction of $216,153.60. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
MO has been the subject of several research reports. ValuEngine downgraded shares of Altria from a “sell” rating to a “strong sell” rating in a research report on Monday. Zacks Investment Research downgraded shares of Altria from a “hold” rating to a “sell” rating in a research report on Monday. Royal Bank of Canada raised shares of Altria from a “sector perform” rating to an “outperform” rating in a research note on Monday, April 30th. They noted that the move was a valuation call. Morgan Stanley dropped their price objective on shares of Altria from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, April 27th. Finally, Piper Jaffray set a $75.00 price objective on shares of Altria and gave the company a “buy” rating in a research note on Monday, April 23rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $73.42.
Altria Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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