Haverford Trust Co. lessened its holdings in shares of Altria Group Inc (NYSE:MO) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 468,467 shares of the company’s stock after selling 4,691 shares during the period. Haverford Trust Co.’s holdings in Altria Group were worth $19,160,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Julex Capital Management LLC purchased a new position in Altria Group during the third quarter worth about $25,000. Vigilant Capital Management LLC lifted its position in Altria Group by 140.3% during the third quarter. Vigilant Capital Management LLC now owns 704 shares of the company’s stock worth $29,000 after buying an additional 411 shares during the period. KCS Wealth Advisory purchased a new position in Altria Group during the third quarter worth about $40,000. HMS Capital Management LLC purchased a new position in Altria Group during the second quarter worth about $41,000. Finally, Salomon & Ludwin LLC lifted its position in Altria Group by 189.0% during the second quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock worth $41,000 after buying an additional 567 shares during the period. 63.27% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on MO shares. Bank of America set a $54.00 target price on Altria Group and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada set a $68.00 price objective on Altria Group and gave the stock a “buy” rating in a report on Wednesday, July 31st. TheStreet downgraded Altria Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. Cowen restated a “hold” rating on shares of Altria Group in a report on Thursday, September 12th. Finally, Argus set a $60.00 price objective on Altria Group and gave the stock a “buy” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $54.35.
NYSE MO traded up $0.43 during mid-day trading on Friday, reaching $46.41. 5,603,266 shares of the company’s stock traded hands, compared to its average volume of 10,315,709. Altria Group Inc has a 1-year low of $39.30 and a 1-year high of $66.04. The company has a fifty day simple moving average of $43.29 and a 200-day simple moving average of $47.56. The company has a current ratio of 0.56, a quick ratio of 0.27 and a debt-to-equity ratio of 2.53. The company has a market cap of $86.40 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 1.72 and a beta of 0.41.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.15 by $0.04. Altria Group had a return on equity of 56.17% and a net margin of 7.00%. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same quarter last year, the firm earned $1.08 EPS. The business’s revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that Altria Group Inc will post 4.21 earnings per share for the current fiscal year.
Altria Group announced that its Board of Directors has authorized a share repurchase program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 1.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were given a $0.84 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 7.24%. This is a boost from Altria Group’s previous quarterly dividend of $0.80. Altria Group’s payout ratio is currently 84.21%.
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.
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