Altria Group (MO) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Altria Group (NYSE:MO) released its quarterly earnings results on Thursday. The company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.01, Bloomberg Earnings reports. The company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a net margin of 55.99% and a return on equity of 76.43%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS.
Shares of Altria Group (NYSE:MO) traded up 3.11% during mid-day trading on Thursday, reaching $73.96. 9,646,992 shares of the company’s stock were exchanged. Altria Group has a 52-week low of $60.82 and a 52-week high of $77.79. The company’s 50-day moving average price is $74.79 and its 200 day moving average price is $73.00. The company has a market cap of $143.41 billion, a PE ratio of 10.01 and a beta of 0.64.
The company also recently declared a quarterly dividend, which was paid on Monday, July 10th. Shareholders of record on Thursday, June 15th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Tuesday, June 13th. Altria Group’s dividend payout ratio is currently 33.02%.
Several brokerages recently commented on MO. BidaskClub cut shares of Altria Group from a “sell” rating to a “strong sell” rating in a report on Monday. Jefferies Group LLC restated a “hold” rating and set a $70.00 target price (down previously from $71.00) on shares of Altria Group in a report on Monday, July 17th. Zacks Investment Research cut shares of Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Cowen and Company restated a “hold” rating and set a $74.00 target price on shares of Altria Group in a report on Tuesday, July 11th. Finally, Vetr cut shares of Altria Group from a “buy” rating to a “hold” rating and set a $80.38 target price for the company. in a report on Monday, June 19th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $72.34.
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In other Altria Group news, Director George Munoz sold 5,000 shares of Altria Group stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $72.35, for a total transaction of $361,750.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Dinyar S. Devitre sold 4,285 shares of Altria Group stock in a transaction on Monday, May 8th. The stock was sold at an average price of $70.72, for a total transaction of $303,035.20. Following the transaction, the director now directly owns 112,457 shares in the company, valued at $7,952,959.04. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Sterling Investment Advisors Ltd. increased its position in Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after buying an additional 800 shares in the last quarter. Advantage Investment Management LLC purchased a new position in Altria Group during the fourth quarter worth about $116,000. Perigon Wealth Management LLC increased its position in Altria Group by 4.7% in the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock worth $118,000 after buying an additional 74 shares in the last quarter. Proficio Capital Partners LLC increased its position in Altria Group by 97.4% in the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock worth $121,000 after buying an additional 821 shares in the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new position in Altria Group during the first quarter worth about $134,000. 61.99% of the stock is currently owned by hedge funds and other institutional investors.
About Altria Group
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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