American National Bank lowered its stake in shares of Altria (NYSE:MO) by 32.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,413 shares of the company’s stock after selling 1,652 shares during the quarter. American National Bank’s holdings in Altria were worth $194,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Taylor Hoffman Wealth Management acquired a new position in Altria during the 4th quarter worth $120,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Altria during the 4th quarter worth $134,000. Smart Portfolios LLC acquired a new position in Altria during the 1st quarter worth $129,000. Proficio Capital Partners LLC boosted its position in Altria by 125.5% during the 4th quarter. Proficio Capital Partners LLC now owns 2,077 shares of the company’s stock worth $148,000 after acquiring an additional 1,156 shares during the period. Finally, Point72 Asia Hong Kong Ltd acquired a new position in Altria during the 1st quarter worth $147,000. Institutional investors and hedge funds own 63.04% of the company’s stock.
A number of research analysts have issued reports on MO shares. Argus reiterated a “buy” rating and set a $79.00 price target (up previously from $66.13) on shares of Altria in a research report on Wednesday, March 14th. Jefferies Financial Group reiterated a “buy” rating and set a $84.00 price target on shares of Altria in a research report on Thursday, March 15th. Deutsche Bank began coverage on Altria in a report on Monday, March 26th. They issued a “buy” rating and a $72.00 price objective for the company. Zacks Investment Research upgraded Altria from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Monday, April 9th. Finally, Citigroup lowered Altria from a “buy” rating to a “neutral” rating and set a $75.00 price objective for the company. in a report on Wednesday, April 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $72.08.
In related news, Director Mark Newman bought 5,345 shares of the business’s stock in a transaction dated Monday, April 30th. The shares were bought at an average cost of $56.19 per share, with a total value of $300,335.55. Following the completion of the transaction, the director now directly owns 6,022 shares of the company’s stock, valued at $338,376.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by insiders.
Shares of Altria opened at $57.63 on Friday, MarketBeat.com reports. The firm has a market cap of $106.86 billion, a PE ratio of 17.05, a P/E/G ratio of 1.64 and a beta of 0.62. 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 12-month low of $53.91 and a 12-month high of $74.67.
Altria (NYSE:MO) last announced its earnings results on Thursday, April 26th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The company 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%. Altria’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.73 earnings per share. equities research analysts predict that Altria will post 4 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Friday, June 15th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Thursday, June 14th. Altria’s dividend payout ratio (DPR) is presently 82.84%.
Altria declared that its board has authorized a stock repurchase plan on Thursday, May 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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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