Cambridge Trust Co. Cuts Stake in Altria Group (MO)
Cambridge Trust Co. decreased its stake in shares of Altria Group (NYSE:MO) by 1.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,152 shares of the company’s stock after selling 133 shares during the period. Cambridge Trust Co.’s holdings in Altria Group were worth $582,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of MO. Sterling Investment Advisors Ltd. lifted its holdings in Altria Group by 133.3% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after purchasing an additional 800 shares in the last quarter. Advantage Investment Management LLC lifted its holdings in Altria Group by 1.9% during the 1st quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock worth $125,000 after purchasing an additional 32 shares in the last quarter. Feltz Wealth PLAN Inc. purchased a new stake in Altria Group during the 1st quarter worth about $134,000. American Beacon Advisors Inc. purchased a new stake in Altria Group during the 1st quarter worth about $164,000. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its holdings in Altria Group by 102.5% during the 1st quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,669 shares of the company’s stock worth $191,000 after purchasing an additional 1,351 shares in the last quarter. 61.89% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Martin J. Barrington sold 15,300 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the sale, the chief executive officer now directly owns 701,074 shares in the company, valued at $45,590,842.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is currently owned by insiders.
A number of brokerages recently issued reports on MO. Vetr cut Altria Group from a “buy” rating to a “hold” rating and set a $80.38 price objective on the stock. in a report on Monday, June 19th. BidaskClub raised Altria Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $62.00 price target on shares of Altria Group in a report on Friday, May 26th. Cowen and Company set a $78.00 price target on Altria Group and gave the company a “hold” rating in a report on Friday, July 28th. Finally, Piper Jaffray Companies set a $76.00 price target on Altria Group and gave the company a “buy” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $71.81.
Shares of Altria Group (NYSE MO) traded up 0.3269% during trading on Thursday, hitting $62.0522. The stock had a trading volume of 2,572,430 shares. The company has a market cap of $119.64 billion, a PE ratio of 8.1831 and a beta of 0.63. The stock has a 50 day moving average of $65.03 and a 200 day moving average of $71.46. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. Altria Group’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Equities analysts forecast that Altria Group will post $3.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be given a $0.66 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.61. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Thursday, September 14th. Altria Group’s payout ratio is currently 32.19%.
Altria Group announced that its board has approved a share repurchase program on Thursday, July 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 0.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Altria Group Profile
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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