Cornerstone Advisory LLP Lowers Position in Altria Group (MO)
Cornerstone Advisory LLP decreased its stake in shares of Altria Group (NYSE:MO) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 3,821 shares of the company’s stock after selling 200 shares during the period. Cornerstone Advisory LLP’s holdings in Altria Group were worth $263,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Chevy Chase Trust Holdings Inc. increased its stake in Altria Group by 1.0% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,687,561 shares of the company’s stock valued at $116,374,000 after buying an additional 17,417 shares during the period. Envestnet Asset Management Inc. increased its stake in Altria Group by 1.9% in the first quarter. Envestnet Asset Management Inc. now owns 676,612 shares of the company’s stock valued at $42,396,000 after buying an additional 12,726 shares during the period. Acadian Asset Management LLC increased its stake in Altria Group by 21.9% in the second quarter. Acadian Asset Management LLC now owns 2,517,741 shares of the company’s stock valued at $173,623,000 after buying an additional 452,444 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Altria Group by 6.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,932,109 shares of the company’s stock valued at $133,238,000 after buying an additional 109,612 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in Altria Group by 4.5% in the second quarter. State of Alaska Department of Revenue now owns 268,676 shares of the company’s stock valued at $18,527,000 after buying an additional 11,624 shares during the period. Institutional investors own 61.29% of the company’s stock.
Altria Group (NYSE:MO) opened at 61.22 on Thursday. Altria Group has a 1-year low of $55.39 and a 1-year high of $70.15. The stock has a 50 day moving average price of $64.62 and a 200-day moving average price of $64.97. The company has a market cap of $119.62 billion, a price-to-earnings ratio of 21.26 and a beta of 0.52.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. The firm earned $6.52 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. On average, equities research analysts forecast that Altria Group will post $3.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th will be given a $0.61 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, September 13th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.99%. Altria Group’s dividend payout ratio (DPR) is presently 84.72%.
MO has been the topic of a number of research analyst reports. Berenberg Bank initiated coverage on Altria Group in a report on Tuesday, June 14th. They set a “buy” rating and a $74.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $71.00 price target (up from $65.00) on shares of Altria Group in a report on Monday, June 27th. Zacks Investment Research downgraded Altria Group from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $69.00 price target (up from $64.00) on shares of Altria Group in a report on Friday, July 15th. Finally, Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $77.35 price target on the stock in a report on Wednesday, July 20th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $69.44.
In other Altria Group news, SVP James E. Dillard III sold 9,000 shares of Altria Group stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total transaction of $600,120.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Charles N. Whitaker sold 11,000 shares of Altria Group stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $66.53, for a total value of $731,830.00. The disclosure for this sale can be found here. 0.15% of the stock is owned by 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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