Cypress Capital Group lowered its stake in shares of Altria Group Inc (NYSE:MO) by 8.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,039 shares of the company’s stock after selling 10,259 shares during the quarter. Altria Group makes up approximately 1.3% of Cypress Capital Group’s holdings, making the stock its 22nd largest position. Cypress Capital Group’s holdings in Altria Group were worth $6,079,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in MO. IMA Wealth Inc. acquired a new position in Altria Group during the 2nd quarter worth $106,000. BerganKDV Wealth Management LLC acquired a new position in Altria Group during the 2nd quarter worth $123,000. Point72 Asia Hong Kong Ltd acquired a new position in Altria Group during the 1st quarter worth $147,000. Centerpoint Advisors LLC boosted its position in Altria Group by 73.7% during the 1st quarter. Centerpoint Advisors LLC now owns 2,355 shares of the company’s stock worth $147,000 after acquiring an additional 999 shares during the period. Finally, Landaas & Co. WI ADV acquired a new position in Altria Group during the 2nd quarter worth $137,000. Institutional investors and hedge funds own 63.27% of the company’s stock.
A number of research analysts have issued reports on MO shares. Jefferies Financial Group set a $70.00 price target on Altria Group and gave the stock a “buy” rating in a research report on Friday, June 1st. Piper Jaffray Companies set a $75.00 price objective on Altria Group and gave the company a “buy” rating in a report on Monday, July 23rd. Consumer Edge assumed coverage on Altria Group in a report on Monday, June 11th. They issued an “equal weight” rating and a $69.31 price objective for the company. Zacks Investment Research upgraded Altria Group from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. Finally, Bank of America set a $70.00 price objective on Altria Group and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Altria Group currently has a consensus rating of “Buy” and an average target price of $70.95.
Shares of Altria Group stock opened at $62.07 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $119.58 billion, a PE ratio of 16.83, a PEG ratio of 1.80 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.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, July 26th. The company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.01. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. The company’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. equities analysts anticipate that Altria Group Inc will post 4 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Stockholders of record on Friday, September 14th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, September 13th. This is a positive change from Altria Group’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.16%. Altria Group’s payout ratio is 82.84%.
In other news, Director Dinyar S. Devitre sold 3,165 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $58.44, for a total transaction of $184,962.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is owned by insiders.
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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