Westpac Banking Corp Boosts Stake in Altria Group (MO)
Westpac Banking Corp increased its stake in Altria Group (NYSE:MO) by 33.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 616,732 shares of the company’s stock after buying an additional 154,764 shares during the period. Westpac Banking Corp’s holdings in Altria Group were worth $34,865,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wade G W & Inc. raised its position in shares of Altria Group by 37.1% in the first quarter. Wade G W & Inc. now owns 5,446 shares of the company’s stock valued at $341,000 after buying an additional 1,474 shares during the period. New Century Investment Management Inc. raised its position in shares of Altria Group by 0.7% in the first quarter. New Century Investment Management Inc. now owns 19,544 shares of the company’s stock valued at $1,225,000 after buying an additional 128 shares during the period. RKL Wealth Management LLC raised its position in shares of Altria Group by 502.8% in the first quarter. RKL Wealth Management LLC now owns 46,130 shares of the company’s stock valued at $2,891,000 after buying an additional 38,477 shares during the period. Sumitomo Life Insurance Co. raised its position in shares of Altria Group by 8.8% in the first quarter. Sumitomo Life Insurance Co. now owns 95,065 shares of the company’s stock valued at $5,957,000 after buying an additional 7,713 shares during the period. Finally, RDL Financial Inc. acquired a new stake in Altria Group during the first quarter valued at about $1,260,000. Institutional investors own 61.29% of the company’s stock.
Shares of Altria Group (NYSE:MO) opened at 62.66 on Tuesday. Altria Group has a one year low of $55.25 and a one year high of $70.15. The stock has a market cap of $122.44 billion, a PE ratio of 21.76 and a beta of 0.52. The firm has a 50-day moving average of $64.89 and a 200-day moving average of $65.00.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The business earned $6.52 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period last year, the company posted $0.74 EPS. The business’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts expect that Altria Group will post $3.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Thursday, September 15th will be paid a $0.61 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Tuesday, September 13th. Altria Group’s dividend payout ratio (DPR) is presently 84.72%.
Several analysts have issued reports on MO shares. Credit Agricole SA cut their price target on shares of Altria Group from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, September 15th. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $75.77 price target for the company. in a research report on Monday, August 1st. Argus set a $73.00 price target on shares of Altria Group and gave the company a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Monday, July 11th. Finally, Citigroup Inc. restated a “buy” rating and set a $72.00 price target on shares of Altria Group in a research report on Monday, September 26th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $69.44.
In other Altria Group news, SVP James E. Dillard III sold 9,000 shares of Altria Group stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $66.68, for a total value of $600,120.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Charles N. Whitaker sold 11,000 shares of Altria Group stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $66.53, for a total transaction of $731,830.00. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.
Altria Group Company Profile
Altria Group, Inc is a holding company. 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 large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.
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