5,965 Shares in Altria Group (MO) Purchased by Summit Financial Group Inc.

Summit Financial Group Inc. purchased a new position in shares of Altria Group (NYSE:MO) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,965 shares of the company’s stock, valued at approximately $444,000.

Several other institutional investors have also bought and sold shares of the company. Rockland Trust Co. raised its holdings in shares of Altria Group by 5.5% during the 2nd quarter. Rockland Trust Co. now owns 61,739 shares of the company’s stock worth $4,598,000 after buying an additional 3,235 shares in the last quarter. Legacy Capital Partners Inc. raised its holdings in shares of Altria Group by 2.0% during the 2nd quarter. Legacy Capital Partners Inc. now owns 29,785 shares of the company’s stock worth $2,218,000 after buying an additional 575 shares in the last quarter. Global X Management Co. LLC raised its holdings in shares of Altria Group by 7.0% during the 2nd quarter. Global X Management Co. LLC now owns 123,109 shares of the company’s stock worth $9,168,000 after buying an additional 8,001 shares in the last quarter. Seaward Management Limited Partnership acquired a new position in shares of Altria Group during the 2nd quarter worth $204,000. Finally, Pioneer Investment Management Inc. raised its holdings in shares of Altria Group by 16.5% during the 2nd quarter. Pioneer Investment Management Inc. now owns 276,281 shares of the company’s stock worth $20,575,000 after buying an additional 39,074 shares in the last quarter. 61.82% of the stock is owned by institutional investors.

WARNING: “5,965 Shares in Altria Group (MO) Purchased by Summit Financial Group Inc.” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another website, it was illegally copied and republished in violation of U.S. and international copyright law. The original version of this report can be accessed at https://ledgergazette.com/2017/10/20/5965-shares-in-altria-group-mo-purchased-by-summit-financial-group-inc.html.

Altria Group (NYSE:MO) opened at 64.37 on Friday. The firm has a market cap of $124.11 billion, a PE ratio of 8.49 and a beta of 0.64. Altria Group has a one year low of $60.01 and a one year high of $77.79. The firm has a 50-day moving average price of $63.43 and a 200-day moving average price of $69.34.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share 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 firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the previous year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts expect that Altria Group will post $3.27 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th were given a dividend of $0.66 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date was Thursday, September 14th. This represents a $2.64 dividend on an annualized basis and a yield of 4.10%. Altria Group’s dividend payout ratio (DPR) is presently 34.83%.

Altria Group declared that its board has approved a stock buyback program on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 0.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In other news, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $61.22, for a total value of $1,959,040.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the transaction, the chief executive officer now owns 701,074 shares in the company, valued at approximately $45,590,842.22. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

A number of equities analysts have recently commented on MO shares. BidaskClub cut Altria Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Wells Fargo & Company reissued an “outperform” rating and set a $80.00 price target on shares of Altria Group in a report on Monday, July 31st. Cowen and Company raised Altria Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $64.00 to $71.00 in a report on Tuesday, September 26th. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Wednesday, October 11th. Finally, Royal Bank Of Canada raised Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.

Several other institutional investors have also bought and sold shares of the company. Rockland Trust Co. raised its holdings in shares of Altria Group by 5.5% during the 2nd quarter. Rockland Trust Co. now owns 61,739 shares of the company’s stock worth $4,598,000 after buying an additional 3,235 shares in the last quarter. Legacy Capital Partners Inc. raised its holdings in shares of Altria Group by 2.0% during the 2nd quarter. Legacy Capital Partners Inc. now owns 29,785 shares of the company’s stock worth $2,218,000 after buying an additional 575 shares in the last quarter. Global X Management Co. LLC raised its holdings in shares of Altria Group by 7.0% during the 2nd quarter. Global X Management Co. LLC now owns 123,109 shares of the company’s stock worth $9,168,000 after buying an additional 8,001 shares in the last quarter. Seaward Management Limited Partnership acquired a new position in shares of Altria Group during the 2nd quarter worth $204,000. Finally, Pioneer Investment Management Inc. raised its holdings in shares of Altria Group by 16.5% during the 2nd quarter. Pioneer Investment Management Inc. now owns 276,281 shares of the company’s stock worth $20,575,000 after buying an additional 39,074 shares in the last quarter. 61.82% of the stock is owned by institutional investors.

WARNING: “5,965 Shares in Altria Group (MO) Purchased by Summit Financial Group Inc.” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another website, it was illegally copied and republished in violation of U.S. and international copyright law. The original version of this report can be accessed at https://ledgergazette.com/2017/10/20/5965-shares-in-altria-group-mo-purchased-by-summit-financial-group-inc.html.

Altria Group (NYSE:MO) opened at 64.37 on Friday. The firm has a market cap of $124.11 billion, a PE ratio of 8.49 and a beta of 0.64. Altria Group has a one year low of $60.01 and a one year high of $77.79. The firm has a 50-day moving average price of $63.43 and a 200-day moving average price of $69.34.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share 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 firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the previous year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts expect that Altria Group will post $3.27 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th were given a dividend of $0.66 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date was Thursday, September 14th. This represents a $2.64 dividend on an annualized basis and a yield of 4.10%. Altria Group’s dividend payout ratio (DPR) is presently 34.83%.

Altria Group declared that its board has approved a stock buyback program on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 0.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In other news, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $61.22, for a total value of $1,959,040.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the transaction, the chief executive officer now owns 701,074 shares in the company, valued at approximately $45,590,842.22. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

A number of equities analysts have recently commented on MO shares. BidaskClub cut Altria Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Wells Fargo & Company reissued an “outperform” rating and set a $80.00 price target on shares of Altria Group in a report on Monday, July 31st. Cowen and Company raised Altria Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $64.00 to $71.00 in a report on Tuesday, September 26th. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Wednesday, October 11th. Finally, Royal Bank Of Canada raised Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 price target for the company in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Altria Group has an average rating of “Hold” and an average target price of $71.99.

About Altria Group

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.

Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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