Altria Group (MO) Stake Decreased by Farmers Trust Co.
Farmers Trust Co. decreased its holdings in Altria Group (NYSE:MO) by 10.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,249 shares of the company’s stock after selling 1,909 shares during the quarter. Farmers Trust Co.’s holdings in Altria Group were worth $1,284,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. State Street Corp lifted its position in Altria Group by 0.9% during the 1st quarter. State Street Corp now owns 74,624,722 shares of the company’s stock worth $5,329,771,000 after acquiring an additional 687,246 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Altria Group by 5.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 8,790,490 shares of the company’s stock worth $627,817,000 after acquiring an additional 476,393 shares during the period. Swiss National Bank lifted its position in Altria Group by 25.1% during the 1st quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock worth $534,678,000 after acquiring an additional 1,501,400 shares during the period. UBS Asset Management Americas Inc. lifted its position in Altria Group by 7.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 5,632,931 shares of the company’s stock worth $402,304,000 after acquiring an additional 387,069 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its position in Altria Group by 9.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 4,639,646 shares of the company’s stock worth $331,364,000 after acquiring an additional 388,541 shares during the period. 61.85% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction dated Thursday, August 10th. The shares were 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 in the company, valued at $45,590,842.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is currently owned by corporate insiders.
A number of brokerages have commented on MO. Cowen and Company reaffirmed a “hold” rating on shares of Altria Group in a research report on Sunday, September 10th. Vetr cut Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price target for the company. in a research report on Wednesday, September 6th. BidaskClub cut Altria Group from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Jefferies Group LLC set a $67.00 price target on Altria Group and gave the stock a “hold” rating in a research report on Thursday, August 24th. Finally, UBS AG reaffirmed a “hold” rating on shares of Altria Group in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $72.07.
Altria Group (MO) traded down 0.27% during trading on Tuesday, hitting $62.39. The company’s stock had a trading volume of 2,830,639 shares. The company has a 50-day moving average of $64.02 and a 200 day moving average of $71.09. The firm has a market cap of $120.29 billion, a PE ratio of 8.23 and a beta of 0.63. Altria Group has a one year low of $60.01 and a one year high of $77.79.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter last year, the company posted $0.81 EPS. Altria Group’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts forecast that Altria Group will post $3.26 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be paid 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 of this dividend is Thursday, September 14th. This represents a $2.64 annualized dividend and a dividend yield of 4.22%. Altria Group’s dividend payout ratio is 34.83%.
Altria Group announced that its Board of Directors has approved a share buyback plan on Thursday, July 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 0.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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.
Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group (NYSE:MO).
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.