Altria Group (MO) Holdings Lifted by First Financial Bank Trust Division
First Financial Bank Trust Division raised its holdings in Altria Group (NYSE:MO) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,966 shares of the company’s stock after purchasing an additional 295 shares during the quarter. First Financial Bank Trust Division’s holdings in Altria Group were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the business. GW&K Investment Management LLC grew its stake in Altria Group by 2.6% in the 2nd quarter. GW&K Investment Management LLC now owns 651,049 shares of the company’s stock valued at $48,484,000 after purchasing an additional 16,708 shares during the period. CenturyLink Investment Management Co grew its stake in Altria Group by 21.5% in the 2nd quarter. CenturyLink Investment Management Co now owns 45,507 shares of the company’s stock valued at $3,389,000 after purchasing an additional 8,063 shares during the period. M. Kraus & Co bought a new position in Altria Group in the 2nd quarter valued at $206,000. Bank of Montreal Can grew its stake in Altria Group by 11.4% in the 2nd quarter. Bank of Montreal Can now owns 2,136,913 shares of the company’s stock valued at $159,136,000 after purchasing an additional 219,267 shares during the period. Finally, Confluence Investment Management LLC grew its stake in Altria Group by 40.2% in the 2nd quarter. Confluence Investment Management LLC now owns 6,715 shares of the company’s stock valued at $500,000 after purchasing an additional 1,926 shares during the period. Hedge funds and other institutional investors own 61.85% of the company’s stock.
In related news, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction 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 sale, the chief executive officer now owns 701,074 shares of the company’s stock, valued at $45,590,842.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.
MO has been the subject of a number of recent analyst reports. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price objective for the company. in a research note on Wednesday, September 6th. BidaskClub upgraded Altria Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Royal Bank Of Canada upgraded Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 price objective for the company in a research note on Monday, July 31st. Cowen and Company restated a “hold” rating on shares of Altria Group in a research note on Sunday, September 10th. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $80.00 price objective on shares of Altria Group in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Altria Group presently has a consensus rating of “Hold” and an average target price of $72.07.
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Altria Group (NYSE:MO) last issued its quarterly earnings data 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 firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the previous year, the firm earned $0.81 EPS. The business’s revenue was up 3.2% on a year-over-year basis.
Altria Group announced that its Board of Directors has approved a stock buyback program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be issued a $0.66 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.64 annualized dividend and a dividend yield of 4.22%. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s payout ratio is presently 34.83%.
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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