Tredje AP fonden decreased its stake in Altria (NYSE:MO) by 4.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 173,945 shares of the company’s stock after selling 8,060 shares during the quarter. Tredje AP fonden’s holdings in Altria were worth $10,962,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in MO. First Manhattan Co. lifted its stake in Altria by 22.8% in the 4th quarter. First Manhattan Co. now owns 1,125,517 shares of the company’s stock worth $80,373,000 after acquiring an additional 208,935 shares in the last quarter. Alley Co LLC lifted its stake in Altria by 0.9% in the 4th quarter. Alley Co LLC now owns 102,997 shares of the company’s stock worth $7,355,000 after acquiring an additional 904 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in Altria in the 4th quarter worth about $1,044,000. Naples Global Advisors LLC lifted its stake in Altria by 6.1% in the 4th quarter. Naples Global Advisors LLC now owns 23,255 shares of the company’s stock worth $1,661,000 after acquiring an additional 1,342 shares in the last quarter. Finally, Virtue Capital Management LLC purchased a new stake in Altria in the 4th quarter worth about $1,049,000. Institutional investors and hedge funds own 63.09% of the company’s stock.
Shares of Altria opened at $55.40 on Wednesday, Marketbeat reports. The company has a current ratio of 0.65, a quick ratio of 0.34 and a debt-to-equity ratio of 0.85. Altria has a twelve month low of $53.91 and a twelve month high of $77.79. The company has a market capitalization of $105.31 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.62 and a beta of 0.63.
Altria (NYSE:MO) last issued its quarterly earnings data on Thursday, April 26th. The company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.02. Altria had a return on equity of 49.92% and a net margin of 41.85%. The business had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period last year, the business earned $0.73 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. research analysts forecast that Altria will post 4 EPS for the current year.
Altria declared that its Board of Directors has authorized a share buyback plan on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 10th. Investors of record on Friday, June 15th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Thursday, June 14th. Altria’s payout ratio is 82.84%.
In related news, Director Mark Newman acquired 5,345 shares of the business’s stock in a transaction that occurred on Monday, April 30th. The shares were acquired at an average cost of $56.19 per share, with a total value of $300,335.55. Following the purchase, the director now owns 6,022 shares of the company’s stock, valued at $338,376.18. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian W. Quigley sold 3,464 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $62.40, for a total value of $216,153.60. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.
A number of equities research analysts have recently weighed in on the company. ValuEngine downgraded Altria from a “sell” rating to a “strong sell” rating in a research note on Monday, May 14th. Zacks Investment Research downgraded Altria from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. Royal Bank of Canada raised Altria from a “sector perform” rating to an “outperform” rating in a research note on Monday, April 30th. They noted that the move was a valuation call. Morgan Stanley cut their price target on Altria from $70.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, April 27th. Finally, Piper Jaffray Companies set a $75.00 price target on Altria and gave the stock a “buy” rating in a research note on Monday, April 23rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $73.42.
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.
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