Rikoon Group LLC increased its holdings in shares of Altria (NYSE:MO) by 10.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,355 shares of the company’s stock after acquiring an additional 1,092 shares during the quarter. Rikoon Group LLC’s holdings in Altria were worth $694,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Legacy Capital Partners Inc. lifted its holdings in Altria by 2.6% during the fourth quarter. Legacy Capital Partners Inc. now owns 30,075 shares of the company’s stock worth $2,148,000 after acquiring an additional 750 shares during the period. Monroe Bank & Trust MI lifted its holdings in Altria by 3.8% during the fourth quarter. Monroe Bank & Trust MI now owns 20,923 shares of the company’s stock worth $1,414,000 after acquiring an additional 772 shares during the period. Canandaigua National Bank & Trust Co. lifted its holdings in Altria by 7.7% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 10,895 shares of the company’s stock worth $778,000 after acquiring an additional 780 shares during the period. Covington Capital Management lifted its holdings in Altria by 1.3% during the fourth quarter. Covington Capital Management now owns 60,403 shares of the company’s stock worth $4,313,000 after acquiring an additional 803 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in Altria by 2.7% during the fourth quarter. Sterling Capital Management LLC now owns 31,228 shares of the company’s stock worth $2,230,000 after acquiring an additional 812 shares during the period. Institutional investors and hedge funds own 63.04% of the company’s stock.
Shares of MO traded down $0.14 during mid-day trading on Thursday, hitting $56.61. The stock had a trading volume of 28,620 shares, compared to its average volume of 7,375,831. The firm has a market cap of $107.48 billion, a PE ratio of 16.75, a PEG ratio of 1.65 and a beta of 0.63. 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 52 week low of $53.91 and a 52 week high of $77.63.
Altria (NYSE:MO) last issued its earnings results on Thursday, April 26th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.02. The firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.63 billion. Altria had a return on equity of 49.92% and a net margin of 41.85%. The business’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. sell-side analysts anticipate that Altria will post 4 earnings per share for the current fiscal year.
Altria announced that its board has initiated a share repurchase plan on Thursday, May 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is 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 dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.95%. Altria’s payout ratio is 82.84%.
In related news, Director Mark Newman acquired 5,345 shares of the firm’s stock in a transaction that occurred on Monday, April 30th. The shares were bought at an average cost of $56.19 per share, for a total transaction of $300,335.55. Following the purchase, the director now owns 6,022 shares in the company, valued at approximately $338,376.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.
A number of brokerages recently commented on MO. Jefferies Financial Group set a $70.00 price target on Altria and gave the stock a “buy” rating in a report on Friday, June 1st. Zacks Investment Research upgraded Altria from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. Consumer Edge initiated coverage on Altria in a report on Monday, June 11th. They set an “equal weight” rating and a $69.31 price target on the stock. ValuEngine lowered Altria from a “sell” rating to a “strong sell” rating in a research note on Monday, May 14th. Finally, Morgan Stanley lowered their target price on Altria from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, April 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $72.21.
Altria Company 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.
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