Bridgeworth LLC Takes $157,000 Position in Altria Group Inc (MO)
Bridgeworth LLC purchased a new position in shares of Altria Group Inc (NYSE:MO) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 2,767 shares of the company’s stock, valued at approximately $157,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. IMA Wealth Inc. purchased a new position in Altria Group in the second quarter valued at about $106,000. BerganKDV Wealth Management LLC purchased a new position in Altria Group in the second quarter valued at about $123,000. Landaas & Co. WI ADV purchased a new position in Altria Group in the second quarter valued at about $137,000. New England Asset Management Inc. purchased a new position in Altria Group in the second quarter valued at about $138,000. Finally, Centerpoint Advisors LLC increased its holdings in Altria Group by 73.7% in the first quarter. Centerpoint Advisors LLC now owns 2,355 shares of the company’s stock valued at $147,000 after buying an additional 999 shares in the last quarter. 63.27% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Dinyar S. Devitre sold 3,165 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by company insiders.
MO stock opened at $63.43 on Thursday. The company has a market capitalization of $112.11 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.69 and a beta of 0.62. Altria Group Inc has a 12 month low of $53.91 and a 12 month high of $74.38. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.83.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 26th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $1.00 by $0.01. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a net margin of 42.00% and a return on equity of 48.88%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 earnings per share. equities analysts anticipate that Altria Group Inc will post 4 EPS for the current fiscal year.
Altria Group announced that its Board of Directors has initiated a share buyback program on Thursday, May 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Friday, September 14th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $3.20 dividend on an annualized basis and a yield of 5.04%. This is a positive change from Altria Group’s previous quarterly dividend of $0.70. Altria Group’s dividend payout ratio (DPR) is 82.84%.
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
Read More: Should You Consider an Index Fund?
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 Inc (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.