Agran Libbie Purchases Shares of 4,292 Altria Group (MO)
Agran Libbie bought a new stake in shares of Altria Group (NYSE:MO) during the second quarter, Holdings Channel reports. The fund bought 4,292 shares of the company’s stock, valued at approximately $296,000.
Other hedge funds have also made changes to their positions in the company. First Midwest Bank Trust Division raised its stake in Altria Group by 20.9% in the second quarter. First Midwest Bank Trust Division now owns 24,484 shares of the company’s stock worth $1,688,000 after buying an additional 4,225 shares during the period. Alps Advisors Inc. raised its stake in Altria Group by 13.7% in the second quarter. Alps Advisors Inc. now owns 408,364 shares of the company’s stock worth $28,161,000 after buying an additional 49,215 shares during the period. Calamos Wealth Management LLC raised its stake in Altria Group by 16.6% in the second quarter. Calamos Wealth Management LLC now owns 55,688 shares of the company’s stock worth $3,840,000 after buying an additional 7,908 shares during the period. American Century Companies Inc. raised its stake in Altria Group by 11.5% in the second quarter. American Century Companies Inc. now owns 3,560,320 shares of the company’s stock worth $245,520,000 after buying an additional 366,157 shares during the period. Finally, Pointe Capital Management LLC purchased a new stake in Altria Group during the second quarter worth $217,000. Hedge funds and other institutional investors own 61.29% of the company’s stock.
Shares of Altria Group (NYSE:MO) traded down 0.40% during midday trading on Friday, reaching $62.44. 4,716,586 shares of the company’s stock traded hands. The stock has a market capitalization of $122.01 billion, a P/E ratio of 21.68 and a beta of 0.52. The firm’s 50-day moving average price is $63.79 and its 200 day moving average price is $64.96. Altria Group has a 1-year low of $56.15 and a 1-year high of $70.15.
Altria Group (NYSE:MO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $5.01 billion. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. On average, equities analysts predict that Altria Group will post $3.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.91%. This is an increase from Altria Group’s previous quarterly dividend of $0.57. The ex-dividend date was Tuesday, September 13th. Altria Group’s payout ratio is 84.72%.
A number of research firms recently weighed in on MO. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.67 target price on the stock. in a research report on Thursday, September 22nd. Credit Agricole SA reduced their target price on shares of Altria Group from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, September 15th. Argus set a $73.00 target price on shares of Altria Group and gave the stock a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Monday, July 11th. Finally, Jefferies Group began coverage on shares of Altria Group in a research report on Wednesday, September 21st. They set a “hold” rating and a $70.00 target price on the stock. Five investment 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 price target of $69.44.
In related news, SVP Charles N. Whitaker sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $66.53, for a total transaction of $731,830.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP James E. Dillard III sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total transaction of $600,120.00. The disclosure for this sale can be found here. 0.15% of the stock is currently 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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