FTB Advisors Inc. Sells 4,286 Shares of Altria Group (MO)
FTB Advisors Inc. cut its stake in shares of Altria Group (NYSE:MO) by 13.8% during the first quarter, Holdings Channel reports. The fund owned 26,815 shares of the company’s stock after selling 4,286 shares during the period. FTB Advisors Inc.’s holdings in Altria Group were worth $1,914,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of MO. Advantage Investment Management LLC purchased a new position in shares of Altria Group during the fourth quarter worth about $116,000. Feltz Wealth PLAN Inc. purchased a new position in shares of Altria Group during the first quarter worth about $134,000. Acropolis Investment Management LLC increased its position in shares of Altria Group by 0.3% in the first quarter. Acropolis Investment Management LLC now owns 1,939 shares of the company’s stock worth $138,000 after buying an additional 5 shares in the last quarter. Zions Bancorporation increased its position in shares of Altria Group by 4.3% in the fourth quarter. Zions Bancorporation now owns 2,428 shares of the company’s stock worth $164,000 after buying an additional 99 shares in the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of Altria Group by 102.5% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,669 shares of the company’s stock worth $191,000 after buying an additional 1,351 shares in the last quarter. 62.01% of the stock is owned by institutional investors and hedge funds.
Altria Group (NYSE:MO) opened at 73.55 on Thursday. The stock has a 50 day moving average of $75.15 and a 200-day moving average of $72.86. Altria Group has a one year low of $60.82 and a one year high of $77.79. The firm has a market capitalization of $142.61 billion, a PE ratio of 9.95 and a beta of 0.64.
Altria Group (NYSE:MO) last posted its earnings results on Tuesday, May 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.63 billion. Altria Group had a net margin of 55.99% and a return on equity of 76.43%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. On average, equities analysts predict that Altria Group will post $3.28 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 10th. Shareholders of record on Thursday, June 15th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Tuesday, June 13th. Altria Group’s payout ratio is 33.02%.
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A number of brokerages recently issued reports on MO. BidaskClub downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Cowen and Company reiterated a “hold” rating and issued a $74.00 price target on shares of Altria Group in a research note on Tuesday, July 11th. Jefferies Group LLC reiterated a “hold” rating and issued a $70.00 price target (down previously from $71.00) on shares of Altria Group in a research note on Monday. Zacks Investment Research downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Vetr downgraded shares of Altria Group from a “buy” rating to a “hold” rating and set a $80.38 price target for the company. in a research note on Monday, June 19th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Altria Group currently has a consensus rating of “Hold” and a consensus target price of $72.34.
In other Altria Group news, Director George Munoz sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total value of $361,750.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dinyar S. Devitre sold 4,285 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $70.72, for a total value of $303,035.20. Following the completion of the sale, the director now owns 112,457 shares in the company, valued at $7,952,959.04. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
About Altria Group
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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