Silchester International Investors LLP raised its stake in Altria Group Inc (NYSE:MO) by 38.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,690 shares of the company’s stock after purchasing an additional 11,367 shares during the quarter. Altria Group accounts for about 0.1% of Silchester International Investors LLP’s portfolio, making the stock its 20th biggest position. Silchester International Investors LLP’s holdings in Altria Group were worth $2,311,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of MO. IMA Wealth Inc. purchased a new stake in shares of Altria Group during the second quarter valued at approximately $106,000. BerganKDV Wealth Management LLC purchased a new stake in shares of Altria Group during the second quarter valued at approximately $123,000. Smart Portfolios LLC purchased a new stake in shares of Altria Group during the first quarter valued at approximately $129,000. Landaas & Co. WI ADV purchased a new stake in shares of Altria Group during the second quarter valued at approximately $137,000. Finally, Centerpoint Advisors LLC increased its position in shares of Altria Group by 73.7% during the first quarter. Centerpoint Advisors LLC now owns 2,355 shares of the company’s stock valued at $147,000 after acquiring an additional 999 shares during the last quarter. 63.27% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE MO opened at $58.42 on Thursday. Altria Group Inc has a 1-year low of $53.91 and a 1-year high of $74.38. The firm has a market cap of $111.24 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.72 and a beta of 0.65. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.65 and a quick ratio of 0.31.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, July 26th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same period in the prior year, the company earned $0.85 earnings per share. Altria Group’s revenue was down 3.7% compared to the same quarter last year. analysts anticipate that Altria Group Inc will post 4 earnings per share for the current year.
Altria Group declared that its board has approved a share buyback program on Thursday, May 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Friday, September 14th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 5.48%. This is a positive change from Altria Group’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, September 13th. Altria Group’s dividend payout ratio is 82.84%.
A number of analysts recently commented on the company. ValuEngine raised Altria Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. Zacks Investment Research downgraded Altria Group from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. Consumer Edge assumed coverage on Altria Group in a research report on Monday, June 11th. They set an “equal weight” rating and a $69.31 price target for the company. Jefferies Financial Group set a $70.00 price target on Altria Group and gave the company a “buy” rating in a research report on Friday, June 1st. Finally, Stifel Nicolaus decreased their price target on Altria Group from $78.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $71.01.
About Altria Group
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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