Beaumont Financial Partners LLC lifted its holdings in Altria (NYSE:MO) by 69.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,099 shares of the company’s stock after purchasing an additional 2,908 shares during the quarter. Beaumont Financial Partners LLC’s holdings in Altria were worth $442,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Altria by 0.8% in the fourth quarter. BlackRock Inc. now owns 135,404,376 shares of the company’s stock valued at $9,669,229,000 after buying an additional 1,140,353 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Altria by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 21,709,187 shares of the company’s stock valued at $1,547,228,000 after purchasing an additional 629,732 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Altria by 4.3% during the third quarter. Janus Henderson Group PLC now owns 20,684,380 shares of the company’s stock valued at $1,311,800,000 after purchasing an additional 852,678 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Altria by 60.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,636,235 shares of the company’s stock valued at $912,131,000 after purchasing an additional 5,542,534 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Altria by 17.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 11,564,981 shares of the company’s stock valued at $720,730,000 after purchasing an additional 1,736,849 shares during the last quarter. 63.23% of the stock is owned by institutional investors.
Altria traded down $0.03, hitting $56.70, during mid-day trading on Thursday, MarketBeat reports. The company’s stock had a trading volume of 5,595,128 shares, compared to its average volume of 8,372,024. The company has a market cap of $110.25 billion, a P/E ratio of 16.78, a P/E/G ratio of 1.69 and a beta of 0.63. 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 52-week low of $53.91 and a 52-week high of $77.79.
Altria (NYSE:MO) last announced its quarterly earnings data on Thursday, April 26th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.02. Altria had a return on equity of 49.92% and a net margin of 41.85%. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the prior year, the business earned $0.73 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. equities analysts forecast that Altria will post 4 earnings per share for the current fiscal year.
Altria declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 10th. Shareholders of record on Friday, June 15th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.94%. The ex-dividend date is Thursday, June 14th. Altria’s payout ratio is currently 82.84%.
In other news, Director Mark Newman bought 5,345 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 6,022 shares in the company, valued at approximately $338,376.18. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.
Several equities research analysts have recently commented on MO shares. Zacks Investment Research raised Altria from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Monday, April 9th. Citigroup downgraded Altria from a “buy” rating to a “neutral” rating and set a $75.00 target price for the company. in a report on Wednesday, April 18th. Morgan Stanley reduced their target price on Altria from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, April 18th. Royal Bank of Canada raised Altria from a “sector perform” rating to an “outperform” rating in a report on Monday, April 30th. They noted that the move was a valuation call. Finally, Deutsche Bank started coverage on Altria in a report on Monday, March 26th. They set a “buy” rating and a $72.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $72.21.
Altria 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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