Altria Group (MO) Position Reduced by Physicians Financial Services Inc.
Physicians Financial Services Inc. reduced its holdings in shares of Altria Group (NYSE:MO) by 9.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,017 shares of the company’s stock after selling 973 shares during the quarter. Physicians Financial Services Inc.’s holdings in Altria Group were worth $671,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Sterling Investment Advisors Ltd. increased its position in Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after buying an additional 800 shares during the last quarter. CKW Financial Group purchased a new stake in Altria Group in the second quarter worth $109,000. Perigon Wealth Management LLC increased its position in Altria Group by 4.7% in the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock worth $118,000 after buying an additional 74 shares during the last quarter. Proficio Capital Partners LLC increased its position in Altria Group by 97.4% in the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock worth $121,000 after buying an additional 821 shares during the last quarter. Finally, Advantage Investment Management LLC increased its position in Altria Group by 1.9% in the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock worth $125,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 61.82% of the company’s stock.
Altria Group (NYSE MO) opened at 65.37 on Tuesday. The stock has a market capitalization of $126.03 billion, a PE ratio of 8.62 and a beta of 0.64. The stock has a 50 day moving average price of $63.30 and a 200 day moving average price of $69.51. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ 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 during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the previous year, the company posted $0.81 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities research analysts forecast that Altria Group will post $3.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, September 14th. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio is presently 34.83%.
Altria Group declared that its Board of Directors has authorized a share buyback plan on Thursday, July 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 0.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 701,074 shares in the company, valued at $45,590,842.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $61.22, for a total value of $1,959,040.00. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
A number of research firms have issued reports on MO. Vetr downgraded Altria Group from a “buy” rating to a “hold” rating and set a $80.38 target price for the company. in a research report on Monday, June 19th. BidaskClub raised Altria Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Piper Jaffray Companies set a $76.00 target price on Altria Group and gave the stock a “buy” rating in a research report on Thursday, July 27th. Cowen and Company set a $78.00 target price on Altria Group and gave the stock a “hold” rating in a research report on Friday, July 28th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $70.00 target price (down from $71.00) on shares of Altria Group in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $71.99.
Altria Group 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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