Peoples Financial Services CORP. lowered its position in shares of Altria Group Inc (NYSE:MO) by 5.1% in the second quarter, Holdings Channel reports. The institutional investor owned 9,222 shares of the company’s stock after selling 500 shares during the quarter. Peoples Financial Services CORP.’s holdings in Altria Group were worth $436,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fishman Jay A Ltd. MI boosted its position in Altria Group by 2.1% in the fourth quarter. Fishman Jay A Ltd. MI now owns 38,300 shares of the company’s stock worth $1,892,000 after purchasing an additional 770 shares during the last quarter. Hutner Capital Management Inc. boosted its position in Altria Group by 2.5% in the fourth quarter. Hutner Capital Management Inc. now owns 99,882 shares of the company’s stock worth $4,933,000 after purchasing an additional 2,430 shares during the last quarter. Resources Investment Advisors Inc. boosted its position in Altria Group by 11.2% in the fourth quarter. Resources Investment Advisors Inc. now owns 18,932 shares of the company’s stock worth $935,000 after purchasing an additional 1,903 shares during the last quarter. Pitcairn Co. boosted its position in Altria Group by 12.9% in the fourth quarter. Pitcairn Co. now owns 24,258 shares of the company’s stock worth $1,198,000 after purchasing an additional 2,772 shares during the last quarter. Finally, Aptus Capital Advisors LLC purchased a new position in Altria Group in the fourth quarter worth $1,360,000. Institutional investors and hedge funds own 64.39% of the company’s stock.
Shares of MO traded up $0.37 during mid-day trading on Tuesday, hitting $50.04. The stock had a trading volume of 5,804,616 shares, compared to its average volume of 9,827,617. The company has a market capitalization of $93.18 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.58 and a beta of 0.39. The stock’s fifty day moving average price is $49.60. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.39 and a current ratio of 0.62. Altria Group Inc has a 52 week low of $42.40 and a 52 week high of $66.04.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, April 25th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.02). The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.60 billion. Altria Group had a net margin of 24.87% and a return on equity of 49.42%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. As a group, research analysts predict that Altria Group Inc will post 4.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 14th were paid a dividend of $0.80 per share. The ex-dividend date was Thursday, June 13th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 6.39%. Altria Group’s payout ratio is 80.20%.
In related news, SVP Jody L. Begley sold 3,250 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $53.38, for a total transaction of $173,485.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $52.48, for a total value of $104,960.00. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
MO has been the topic of several research analyst reports. Citigroup set a $221.00 price objective on 3M and gave the stock a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research lowered Wix.Com from a “hold” rating to a “sell” rating in a research note on Monday, April 8th. Morgan Stanley lowered their target price on Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, April 15th. ValuEngine upgraded USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, TheStreet lowered 22nd Century Group from a “c-” rating to a “d+” rating in a research note on Friday, March 29th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $60.91.
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.
Further Reading: Quiet Period Expirations Explained
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