Auxier Asset Management grew its position in Altria Group Inc (NYSE:MO) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,054 shares of the company’s stock after purchasing an additional 2,250 shares during the quarter. Altria Group comprises approximately 1.7% of Auxier Asset Management’s investment portfolio, making the stock its 17th biggest holding. Auxier Asset Management’s holdings in Altria Group were worth $8,522,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Independence Bank of Kentucky grew its holdings in shares of Altria Group by 13.2% during the second quarter. Independence Bank of Kentucky now owns 14,488 shares of the company’s stock valued at $823,000 after buying an additional 1,685 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Altria Group by 86.2% during the second quarter. Private Advisor Group LLC now owns 222,215 shares of the company’s stock valued at $12,456,000 after buying an additional 102,859 shares during the last quarter. Financial Sense Advisors Inc. grew its holdings in shares of Altria Group by 1,507.5% during the second quarter. Financial Sense Advisors Inc. now owns 56,262 shares of the company’s stock valued at $3,195,000 after buying an additional 52,762 shares during the last quarter. LVW Advisors LLC grew its holdings in shares of Altria Group by 5.4% during the second quarter. LVW Advisors LLC now owns 59,179 shares of the company’s stock valued at $3,361,000 after buying an additional 3,008 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Altria Group during the second quarter valued at $178,215,000. 63.27% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on MO shares. Jefferies Financial Group lowered shares of Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price target on the stock. in a report on Friday, August 24th. Stifel Nicolaus lowered their price target on shares of Altria Group from $78.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Piper Jaffray Companies set a $75.00 price target on shares of Altria Group and gave the company a “buy” rating in a report on Monday, July 23rd. Zacks Investment Research raised shares of Altria Group from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. Finally, Consumer Edge started coverage on shares of Altria Group in a report on Monday, June 11th. They issued an “equal weight” rating and a $69.31 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $70.95.
In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total value of $184,962.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.
Shares of Altria Group stock opened at $61.46 on Friday. The stock has a market capitalization of $112.11 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.69 and a beta of 0.62. Altria Group Inc has a fifty-two week low of $53.91 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.65 and a quick ratio of 0.31.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, July 26th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a net margin of 42.00% and a return on equity of 48.88%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share. sell-side analysts predict that Altria Group Inc will post 4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Friday, September 14th will be given a $0.80 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.21%. This is an increase from Altria Group’s previous quarterly dividend of $0.70. Altria Group’s dividend payout ratio is 82.84%.
Altria Group declared that its Board of Directors has authorized a share repurchase program on Thursday, May 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
About Altria Group
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.
Featured Story: Discover Your Risk Tolerance
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.