BB&T Securities LLC lifted its holdings in shares of Altria Group Inc (NYSE:MO) by 0.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 685,330 shares of the company’s stock after purchasing an additional 1,435 shares during the period. BB&T Securities LLC’s holdings in Altria Group were worth $38,919,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. IMA Wealth Inc. bought a new position in Altria Group in the second quarter valued at about $106,000. BerganKDV Wealth Management LLC acquired a new position in Altria Group in the second quarter valued at about $123,000. Point72 Asia Hong Kong Ltd acquired a new position in Altria Group in the first quarter valued at about $147,000. Centerpoint Advisors LLC lifted its stake in Altria Group by 73.7% in the first quarter. Centerpoint Advisors LLC now owns 2,355 shares of the company’s stock valued at $147,000 after buying an additional 999 shares during the period. Finally, Landaas & Co. WI ADV acquired a new position in Altria Group in the second quarter valued at about $137,000. Institutional investors own 63.27% of the company’s stock.
MO has been the topic of several analyst reports. Morgan Stanley cut their target price on Altria Group from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 26th. ValuEngine lowered Altria Group from a “sell” rating to a “strong sell” rating in a research note on Monday, May 14th. Jefferies Financial Group lowered Altria Group from a “buy” rating to a “hold” rating and set a $61.00 target price on the stock. in a research note on Friday, August 24th. Piper Jaffray Companies set a $75.00 target price on Altria Group and gave the company a “buy” rating in a research note on Monday, July 23rd. Finally, Stifel Nicolaus cut their target price on Altria Group from $78.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $71.01.
NYSE MO opened at $60.65 on Thursday. The stock has a market cap of $110.32 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.66 and a beta of 0.62. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.83. Altria Group Inc has a one year low of $53.91 and a one year high of $74.38.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 26th. The company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.01. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. Altria Group’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. research analysts anticipate that Altria Group Inc will post 4 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 10th. Stockholders of record on Friday, September 14th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.28%. This is a positive change from Altria Group’s previous quarterly dividend of $0.70. Altria Group’s dividend payout ratio (DPR) is currently 82.84%.
Altria Group announced that its board has approved a share buyback program on Thursday, May 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Dinyar S. Devitre sold 3,165 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $58.44, for a total transaction of $184,962.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.11% of the company’s stock.
Altria Group 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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