In a recent transaction, Charles N. Whitaker, Senior Vice President, Chief Human Resources Officer, and Chief Compliance Officer at Altria Group , Inc. (NYSE:MO), sold 22,487 shares of the company's common stock. The sale, which took place on May 2, 2024, amounted to a total of $988,359, with shares sold at a weighted average price of $43.9525.
The transactions occurred in multiple parts, with prices ranging from $43.9446 to $43.971 per share. Following the sale, Whitaker's remaining stake in Altria includes 173,485 shares of common stock, which incorporates 67,957 Restricted Stock Units as part of his total holdings. Additionally, he holds 894 shares indirectly through the Altria Deferred Profit-Sharing Plan.
Altria Group, Inc., headquartered in Richmond, Virginia, is a notable player in the tobacco industry with a history dating back to its former names as Philip Morris (NYSE:PM) Companies Inc. and Altria Group Inc. The company's shares are publicly traded under the ticker symbol MO on the New York Stock Exchange.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. However, these transactions may also be part of personal financial management strategies and not necessarily indicative of the company's operational performance.
The details of the transactions, including the specific numbers of shares sold at varying prices within the reported range, are available upon request from Altria Group, Inc., any security holder of the company, or the staff of the Securities and Exchange Commission.
InvestingPro Insights
Altria Group, Inc. (NYSE:MO) has been exhibiting financial metrics that could be of interest to investors following the recent insider transactions. The company's market capitalization stands at a robust $74.7 billion, reflecting its significant presence in the tobacco industry. With a P/E ratio of 9.1, and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 8.52, Altria appears to be trading at a low earnings multiple, which might suggest the stock is undervalued relative to its earnings.
The company has also demonstrated a solid gross profit margin of 69.45% over the last twelve months as of Q1 2024, underscoring its ability to retain a substantial portion of sales as gross profit. Moreover, Altria has been rewarding its shareholders with a considerable dividend yield, which was 8.99% as of the latest data. This aligns with one of the InvestingPro Tips highlighting the company's high shareholder yield and its history of maintaining dividend payments for 54 consecutive years.
Investors looking for stable income streams may find Altria's commitment to dividend growth compelling, as the company has raised its dividend for 14 consecutive years. Additionally, the company's stock generally trades with low price volatility, which may appeal to investors seeking less turbulent investments.
For those interested in further analysis and metrics, InvestingPro offers additional InvestingPro Tips that can provide deeper insights into Altria's financial health and future prospects. To explore these valuable tips, visit InvestingPro and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 15 additional InvestingPro Tips available for Altria Group, Inc., which could further inform investment decisions.
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