Fulton Bank N.A. Sells 4,228 Shares of Altria Group (MO)
Fulton Bank N.A. lessened its holdings in shares of Altria Group (NYSE:MO) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 112,414 shares of the company’s stock after selling 4,228 shares during the period. Altria Group accounts for 0.7% of Fulton Bank N.A.’s holdings, making the stock its 29th biggest holding. Fulton Bank N.A.’s holdings in Altria Group were worth $8,371,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of MO. Sterling Investment Advisors Ltd. lifted its holdings in shares of Altria Group by 133.3% during the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after purchasing an additional 800 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of Altria Group by 4.7% during the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock worth $118,000 after purchasing an additional 74 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Altria Group by 97.4% during the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock worth $121,000 after purchasing an additional 821 shares during the period. Advantage Investment Management LLC lifted its holdings in shares of Altria Group by 1.9% during the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock worth $125,000 after purchasing an additional 32 shares during the period. Finally, Feltz Wealth PLAN Inc. acquired a new position in shares of Altria Group during the first quarter worth $134,000. Institutional investors own 61.85% of the company’s stock.
Shares of Altria Group (MO) traded up 1.61% during trading on Friday, reaching $62.49. 4,045,173 shares of the company were exchanged. The stock has a 50-day moving average price of $63.95 and a 200-day moving average price of $70.99. Altria Group has a one year low of $60.01 and a one year high of $77.79. The stock has a market capitalization of $120.48 billion, a PE ratio of 8.24 and a beta of 0.63.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts forecast that Altria Group will post $3.26 EPS for the current year.
Altria Group announced that its board has approved a stock buyback program on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 0.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.31%. This is a boost from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date is Thursday, September 14th. Altria Group’s dividend payout ratio (DPR) is currently 34.83%.
A number of equities analysts have recently commented on the stock. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $69.00 price target on the stock in a report on Wednesday. Cowen and Company reiterated a “hold” rating on shares of Altria Group in a report on Sunday, September 10th. BidaskClub lowered shares of Altria Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Jefferies Group LLC set a $67.00 price target on shares of Altria Group and gave the stock a “hold” rating in a report on Thursday, August 24th. Finally, UBS AG reiterated a “hold” rating on shares of Altria Group in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Altria Group has a consensus rating of “Hold” and a consensus price target of $72.07.
In other news, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the sale, the chief executive officer now directly owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company 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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