Tufton Capital Management reduced its position in shares of Altria Group (NYSE:MO) by 5.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 52,014 shares of the company’s stock after selling 2,815 shares during the period. Tufton Capital Management’s holdings in Altria Group were worth $3,587,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Private Trust Co. boosted its position in Altria Group by 11.0% in the first quarter. Legacy Private Trust Co. now owns 70,264 shares of the company’s stock worth $4,402,000 after buying an additional 6,989 shares in the last quarter. Lodestar Investment Counsel LLC IL boosted its position in Altria Group by 5.9% in the first quarter. Lodestar Investment Counsel LLC IL now owns 13,533 shares of the company’s stock worth $848,000 after buying an additional 750 shares in the last quarter. Douglas Lane & Associates LLC purchased a new position in Altria Group during the first quarter worth approximately $1,200,000. RDL Financial Inc. purchased a new position in Altria Group during the first quarter worth approximately $1,260,000. Finally, Sumitomo Life Insurance Co. boosted its position in shares of Altria Group by 8.8% in the first quarter. Sumitomo Life Insurance Co. now owns 95,065 shares of the company’s stock worth $5,957,000 after buying an additional 7,713 shares during the period. 61.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Altria Group (NYSE:MO) traded up 0.23% during mid-day trading on Friday, reaching $61.92. 6,315,259 shares of the company’s stock traded hands. Altria Group has a 12-month low of $56.15 and a 12-month high of $70.15. The stock has a 50-day moving average price of $64.36 and a 200 day moving average price of $64.95. The firm has a market capitalization of $120.99 billion, a price-to-earnings ratio of 21.50 and a beta of 0.52.
Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. The firm had revenue of $6.52 billion for the quarter, compared to analyst estimates of $5.01 billion. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. Analysts anticipate that Altria Group will post $3.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th will be paid a $0.61 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.94%. This is a positive change from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s dividend payout ratio is presently 84.72%.
MO has been the topic of a number of recent research reports. Credit Agricole SA reduced their price objective on Altria Group from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, September 15th. Vetr cut Altria Group from a “strong-buy” rating to a “buy” rating and set a $75.77 price objective on the stock. in a research note on Monday, August 1st. Argus set a $73.00 price objective on Altria Group and gave the company a “buy” rating in a research note on Monday, August 1st. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Monday, July 11th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $72.00 price objective on shares of Altria Group in a research note on Monday, September 26th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $69.44.
In other news, SVP Charles N. Whitaker sold 11,000 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $66.53, for a total value of $731,830.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP James E. Dillard III sold 9,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total transaction of $600,120.00. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.
About Altria Group
Altria Group, Inc is a holding company. 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 large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.