Rodgers Brothers Inc. bought a new position in shares of Altria Group Inc (NYSE:MO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,885 shares of the company’s stock, valued at approximately $206,000.
Several other large investors have also bought and sold shares of MO. NewSquare Capital LLC boosted its holdings in Altria Group by 4,734.7% during the third quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after purchasing an additional 106,530 shares during the last quarter. Balentine LLC boosted its holdings in Altria Group by 32.4% during the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after purchasing an additional 357 shares during the last quarter. Quantum Capital Management LLC NJ purchased a new position in Altria Group during the third quarter worth about $114,000. Northwest Investment Counselors LLC boosted its holdings in Altria Group by 557.0% during the third quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock worth $115,000 after purchasing an additional 1,543 shares during the last quarter. Finally, Oak Point Wealth Management purchased a new position in Altria Group during the fourth quarter worth about $120,000. 62.57% of the stock is owned by institutional investors.
In other Altria Group news, CEO Craig A. Johnson sold 14,953 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $66.59, for a total value of $995,720.27. Following the transaction, the chief executive officer now directly owns 64,809 shares in the company, valued at $4,315,631.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $62.34, for a total transaction of $199,488.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,117 shares of company stock worth $1,821,707. Corporate insiders own 0.11% of the company’s stock.
MO opened at $63.40 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.64. The stock has a market capitalization of $122,046.84, a price-to-earnings ratio of 18.76, a P/E/G ratio of 1.86 and a beta of 0.62. Altria Group Inc has a twelve month low of $59.07 and a twelve month high of $77.79.
Altria Group (NYSE:MO) last released its earnings results on Thursday, February 1st. The company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.11. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. research analysts anticipate that Altria Group Inc will post 4.01 earnings per share for the current fiscal year.
Altria Group announced that its board has initiated a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 10th. Shareholders of record on Thursday, March 15th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.42%. This is a boost from Altria Group’s previous quarterly dividend of $0.66. The ex-dividend date was Wednesday, March 14th. Altria Group’s payout ratio is presently 82.84%.
Several research firms recently weighed in on MO. Vetr upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.45 price target on the stock in a report on Monday, February 5th. Zacks Investment Research cut shares of Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Jefferies Group upgraded shares of Altria Group from a “hold” rating to a “buy” rating and cut their price target for the stock from $70.04 to $70.00 in a report on Friday, January 19th. Royal Bank of Canada restated a “sector perform” rating and set a $62.00 price target (down from $65.00) on shares of Altria Group in a report on Monday, February 5th. Finally, Argus restated a “buy” rating and set a $79.00 price target (up from $66.13) on shares of Altria Group in a report on Wednesday, March 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Altria Group presently has a consensus rating of “Buy” and an average price target of $74.53.
Altria Group Company Profile
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.
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