Cibc Bank USA lowered its holdings in Altria (NYSE:MO) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,983 shares of the company’s stock after selling 1,877 shares during the period. Cibc Bank USA’s holdings in Altria were worth $2,555,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Taylor Hoffman Wealth Management bought a new position in shares of Altria in the 4th quarter worth about $120,000. Smart Portfolios LLC bought a new stake in Altria in the 1st quarter valued at about $129,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Altria in the 4th quarter valued at about $134,000. Centerpoint Advisors LLC lifted its position in Altria by 73.7% in the 1st quarter. Centerpoint Advisors LLC now owns 2,355 shares of the company’s stock valued at $147,000 after purchasing an additional 999 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd bought a new stake in Altria in the 1st quarter valued at about $147,000. 63.04% of the stock is owned by institutional investors.
Several research firms have commented on MO. Argus reissued a “buy” rating and set a $79.00 target price (up previously from $66.13) on shares of Altria in a research note on Wednesday, March 14th. Zacks Investment Research cut shares of Altria from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Citigroup cut shares of Altria from a “buy” rating to a “neutral” rating and set a $75.00 target price on the stock. in a research note on Wednesday, April 18th. Morgan Stanley lowered their target price on shares of Altria from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 18th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $84.00 target price on shares of Altria in a research note on Thursday, March 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Altria currently has an average rating of “Buy” and an average target price of $72.08.
Shares of Altria traded up $0.22, hitting $56.09, during mid-day trading on Tuesday, according to Marketbeat. The company’s stock had a trading volume of 336,531 shares, compared to its average volume of 7,711,767. The stock has a market capitalization of $107.48 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.65 and a beta of 0.62. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.65 and a quick ratio of 0.34. Altria has a fifty-two week low of $53.91 and a fifty-two week high of $74.98.
Altria (NYSE:MO) last announced its quarterly earnings data on Thursday, April 26th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.02. The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Altria had a net margin of 41.85% and a return on equity of 49.92%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. equities research analysts forecast that Altria will post 4 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Friday, June 15th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $2.80 annualized dividend and a dividend yield of 4.99%. Altria’s dividend payout ratio is currently 82.84%.
Altria declared that its Board of Directors has initiated a stock buyback program on Thursday, May 17th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Altria news, Director Mark Newman acquired 5,345 shares of the stock in a transaction dated Monday, April 30th. The shares were bought at an average price of $56.19 per share, with a total value of $300,335.55. Following the purchase, the director now directly owns 6,022 shares of the company’s stock, valued at approximately $338,376.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.11% of the company’s stock.
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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