Altria Group (MO) Holdings Trimmed by Smith Shellnut Wilson LLC ADV
Smith Shellnut Wilson LLC ADV lessened its holdings in shares of Altria Group (NYSE:MO) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,719 shares of the company’s stock after selling 210 shares during the quarter. Altria Group accounts for 0.9% of Smith Shellnut Wilson LLC ADV’s portfolio, making the stock its 21st largest position. Smith Shellnut Wilson LLC ADV’s holdings in Altria Group were worth $877,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of MO. Sterling Investment Advisors Ltd. grew its stake in Altria Group by 133.3% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after purchasing an additional 800 shares in the last quarter. Perigon Wealth Management LLC grew its stake in Altria Group by 4.7% during the 1st quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after purchasing an additional 74 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Altria Group by 97.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after purchasing an additional 821 shares in the last quarter. Advantage Investment Management LLC grew its stake in Altria Group by 1.9% during the 1st quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock valued at $125,000 after purchasing an additional 32 shares in the last quarter. Finally, Feltz Wealth PLAN Inc. acquired a new stake in Altria Group during the 1st quarter valued at approximately $134,000. Hedge funds and other institutional investors own 61.85% of the company’s stock.
A number of equities research analysts have weighed in on MO shares. BidaskClub lowered Altria Group from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Wells Fargo & Company restated an “outperform” rating and set a $80.00 price objective on shares of Altria Group in a research note on Monday, July 31st. Royal Bank Of Canada restated a “sell” rating and set a $62.00 price objective on shares of Altria Group in a research note on Friday, May 26th. Vetr upgraded Altria Group from a “sell” rating to a “buy” rating and set a $80.18 price objective for the company in a research note on Monday, June 5th. Finally, Zacks Investment Research lowered Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $72.07.
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Shares of Altria Group (NYSE:MO) traded up 1.61% on Friday, hitting $62.49. The stock had a trading volume of 4,046,073 shares. Altria Group has a 1-year low of $60.01 and a 1-year high of $77.79. The stock has a market cap of $120.48 billion, a P/E ratio of 8.24 and a beta of 0.63. The firm’s 50-day moving average is $63.95 and its 200 day moving average is $70.99.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The company’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the company earned $0.81 EPS. Equities analysts forecast that Altria Group will post $3.26 EPS for the current year.
Altria Group announced that its board has authorized a stock repurchase plan on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The company 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 $0.66 dividend. This is a boost 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 yield of 4.31%. Altria Group’s dividend payout ratio is 34.83%.
In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the transaction, the chief executive officer now owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.
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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