First American Trust FSB Maintains Position in Altria Group (MO)
First American Trust FSB held its position in Altria Group (NYSE:MO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,580 shares of the company’s stock at the end of the 2nd quarter. First American Trust FSB’s holdings in Altria Group were worth $341,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Hartford Financial Management Inc. lifted its stake in shares of Altria Group by 25.4% in the first quarter. Hartford Financial Management Inc. now owns 4,542 shares of the company’s stock worth $324,000 after buying an additional 920 shares during the last quarter. Washington Trust Bank lifted its stake in shares of Altria Group by 495.6% in the first quarter. Washington Trust Bank now owns 105,680 shares of the company’s stock worth $7,548,000 after buying an additional 87,937 shares during the last quarter. SPC Financial Inc. lifted its stake in shares of Altria Group by 1.8% in the first quarter. SPC Financial Inc. now owns 11,150 shares of the company’s stock worth $796,000 after buying an additional 200 shares during the last quarter. Reilly Financial Advisors LLC lifted its stake in shares of Altria Group by 4.1% in the first quarter. Reilly Financial Advisors LLC now owns 29,960 shares of the company’s stock worth $2,140,000 after buying an additional 1,188 shares during the last quarter. Finally, RNC Capital Management LLC lifted its stake in shares of Altria Group by 3.5% in the first quarter. RNC Capital Management LLC now owns 552,435 shares of the company’s stock worth $39,455,000 after buying an additional 18,855 shares during the last quarter. Hedge funds and other institutional investors own 61.89% of the company’s stock.
In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction of $994,959.00. Following the completion of the sale, the chief executive officer now owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.
Shares of Altria Group (MO) traded up 0.18% during trading on Friday, reaching $62.39. 16,567,304 shares of the company were exchanged. Altria Group has a one year low of $60.01 and a one year high of $77.79. The company has a 50 day moving average price of $64.15 and a 200-day moving average price of $71.24. The stock has a market capitalization of $120.29 billion, a price-to-earnings ratio of 8.23 and a beta of 0.63.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same period in the prior year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities analysts predict that Altria Group will post $3.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.66 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date is Thursday, September 14th. This represents a $2.64 annualized dividend and a yield of 4.23%. Altria Group’s dividend payout ratio (DPR) is currently 34.83%.
Altria Group declared that its board has authorized a stock repurchase program on Thursday, July 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 0.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts have recently weighed in on the stock. Vetr cut shares of Altria Group from a “buy” rating to a “hold” rating and set a $80.38 price objective for the company. in a research note on Monday, June 19th. BidaskClub upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. Royal Bank Of Canada restated a “sell” rating and issued a $62.00 price objective on shares of Altria Group in a research note on Friday, May 26th. Cowen and Company set a $78.00 price objective on shares of Altria Group and gave the stock a “hold” rating in a research note on Friday, July 28th. Finally, Piper Jaffray Companies set a $76.00 price objective on shares of Altria Group and gave the stock a “buy” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $72.07.
Altria Group Company 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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