Hendershot Investments Inc. Has $848,000 Stake in Altria Group (MO)
Hendershot Investments Inc. continued to hold its stake in Altria Group (NYSE:MO) during the second quarter, Holdings Channel reports. The firm owned 12,295 shares of the company’s stock at the end of the second quarter. Hendershot Investments Inc.’s holdings in Altria Group were worth $848,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of MO. Wellington Management Group LLP raised its stake in Altria Group by 28.8% in the first quarter. Wellington Management Group LLP now owns 14,356,887 shares of the company’s stock worth $899,602,000 after buying an additional 3,207,663 shares during the period. Bank of Montreal Can bought a new stake in Altria Group during the second quarter worth about $170,990,000. Artemis Investment Management LLP raised its stake in Altria Group by 335.8% in the second quarter. Artemis Investment Management LLP now owns 3,078,676 shares of the company’s stock worth $212,320,000 after buying an additional 2,372,165 shares during the period. TIAA CREF Investment Management LLC raised its stake in Altria Group by 14.4% in the first quarter. TIAA CREF Investment Management LLC now owns 11,433,664 shares of the company’s stock worth $716,433,000 after buying an additional 1,437,564 shares during the period. Finally, State Street Corp raised its stake in Altria Group by 1.9% in the first quarter. State Street Corp now owns 72,465,487 shares of the company’s stock worth $4,540,692,000 after buying an additional 1,328,172 shares during the period. Institutional investors and hedge funds own 61.29% of the company’s stock.
Shares of Altria Group (NYSE:MO) traded up 0.39% during mid-day trading on Tuesday, hitting $61.99. The company had a trading volume of 7,260,191 shares. The firm has a market cap of $121.13 billion, a PE ratio of 21.52 and a beta of 0.52. The firm’s 50 day moving average is $64.23 and its 200-day moving average is $65.01. Altria Group has a 12-month low of $56.15 and a 12-month high of $70.15.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The company earned $6.52 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities analysts expect 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. Investors of record on Thursday, September 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Tuesday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s payout ratio is currently 84.72%.
A number of equities research analysts have recently issued reports on MO shares. Zacks Investment Research lowered Altria Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $72.40 target price for the company. in a research note on Monday, August 15th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $69.00 target price (up previously from $64.00) on shares of Altria Group in a research note on Friday, July 15th. Citigroup Inc. restated a “buy” rating and set a $72.00 price objective on shares of Altria Group in a research note on Monday, September 26th. Finally, Berenberg Bank assumed coverage on Altria Group in a research note on Tuesday, June 14th. They set a “buy” rating and a $74.00 price objective for the company. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Altria Group presently has an average rating of “Buy” and a consensus price target of $69.44.
In related news, SVP Charles N. Whitaker sold 11,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $66.53, for a total transaction of $731,830.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James E. Dillard III sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total value of $600,120.00. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.
About Altria Group
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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