Coho Partners Ltd. lowered its position in shares of Altria Group Inc (NYSE:MO) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,013,977 shares of the company’s stock after selling 70,592 shares during the period. Altria Group comprises about 2.2% of Coho Partners Ltd.’s holdings, making the stock its 25th largest position. Coho Partners Ltd. owned 0.11% of Altria Group worth $95,362,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Waters Parkerson & CO. LLC increased its position in Altria Group by 0.3% during the 2nd quarter. Waters Parkerson & CO. LLC now owns 73,348 shares of the company’s stock worth $3,473,000 after purchasing an additional 225 shares during the period. Busey Wealth Management boosted its stake in shares of Altria Group by 1.5% during the 2nd quarter. Busey Wealth Management now owns 15,478 shares of the company’s stock worth $732,000 after acquiring an additional 234 shares in the last quarter. Brand Asset Management Group Inc. boosted its stake in shares of Altria Group by 24.8% during the 1st quarter. Brand Asset Management Group Inc. now owns 1,186 shares of the company’s stock worth $68,000 after acquiring an additional 236 shares in the last quarter. Country Trust Bank boosted its stake in shares of Altria Group by 86.9% during the 1st quarter. Country Trust Bank now owns 514 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of Altria Group by 0.6% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 37,591 shares of the company’s stock worth $1,780,000 after acquiring an additional 240 shares in the last quarter. Institutional investors and hedge funds own 63.41% of the company’s stock.
MO has been the topic of several research analyst reports. Goldman Sachs Group lowered Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price target on the stock. in a research note on Friday, July 12th. Piper Jaffray Companies lowered Altria Group from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $64.00 to $49.00 in a research note on Monday. ValuEngine lowered Altria Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Wells Fargo & Co reaffirmed a “buy” rating on shares of Altria Group in a research note on Monday, August 26th. Finally, Royal Bank of Canada set a $68.00 target price on Altria Group and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $58.57.
NYSE:MO traded down $1.79 on Friday, reaching $42.67. The stock had a trading volume of 4,953,078 shares, compared to its average volume of 11,886,700. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87. The company has a 50-day moving average of $46.28 and a 200 day moving average of $50.96. Altria Group Inc has a 12-month low of $42.40 and a 12-month high of $66.04. The stock has a market cap of $83.06 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.39 and a beta of 0.38.
Altria Group (NYSE:MO) last issued its earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.10. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The firm had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter last year, the company posted $1.01 earnings per share. Altria Group’s revenue was up 6.4% on a year-over-year basis. On average, equities analysts predict that Altria Group Inc will post 4.17 EPS for the current year.
Altria Group announced that its Board of Directors has approved a stock repurchase plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be paid a $0.84 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.36 annualized dividend and a dividend yield of 7.87%. This is a positive change from Altria Group’s previous quarterly dividend of $0.80. Altria Group’s dividend payout ratio (DPR) is presently 80.20%.
Altria Group 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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