Biltmore Family Office LLC bought a new stake in Altria Group Inc (NYSE:MO) during the fourth quarter, HoldingsChannel.com reports. The firm bought 53,693 shares of the company’s stock, valued at approximately $3,870,000. Altria Group makes up approximately 1.7% of Biltmore Family Office LLC’s holdings, making the stock its 14th largest position.
A number of other institutional investors also recently modified their holdings of MO. NewSquare Capital LLC lifted its holdings in shares of Altria Group by 4,734.7% during the third quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after purchasing an additional 106,530 shares during the period. Balentine LLC lifted its holdings in Altria Group by 32.4% in the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after buying an additional 357 shares during the period. Quantum Capital Management LLC NJ acquired a new position in Altria Group in the third quarter valued at $114,000. Northwest Investment Counselors LLC lifted its holdings in Altria Group by 557.0% in the third quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock valued at $115,000 after buying an additional 1,543 shares during the period. Finally, Oak Point Wealth Management acquired a new position in Altria Group in the fourth quarter valued at $120,000. Hedge funds and other institutional investors own 62.57% of the company’s stock.
In other news, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $62.34, for a total transaction of $199,488.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Craig A. Johnson sold 14,953 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $66.59, for a total transaction of $995,720.27. Following the sale, the chief executive officer now directly owns 64,809 shares of the company’s stock, valued at $4,315,631.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,117 shares of company stock valued at $1,821,707. 0.11% of the stock is currently owned by insiders.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, February 1st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The company had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. equities analysts predict that Altria Group Inc will post 4.01 earnings per share for the current fiscal year.
Altria Group announced that its Board of Directors has initiated a share buyback program on Thursday, February 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 10th. Stockholders of record on Thursday, March 15th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This is an increase from Altria Group’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a dividend yield of 4.38%. Altria Group’s payout ratio is presently 82.84%.
MO has been the subject of several research analyst reports. Berenberg Bank raised shares of Altria Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $60.01 to $71.00 in a research note on Tuesday, December 19th. Vetr raised shares of Altria Group from a “sell” rating to a “hold” rating and set a $69.29 price target for the company in a research note on Thursday, December 28th. Zacks Investment Research downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Wells Fargo lifted their price target on shares of Altria Group from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Finally, Jefferies Group raised shares of Altria Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $70.04 to $70.00 in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $74.53.
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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