16 Oct altria subsidiaries
Altria Group Profile Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States.
Currently the company is headquartered in an unincorporated area within Henrico County, less than five miles west of the city limits of Richmond and less than ten miles from its downtown Richmond campus. It operates worldwide and is headquartered in unincorporated Henrico County, Virginia, just outside the city of Richmond. After Philip Morris International spun off, the former international subsidiaries halted the purchase of tobacco from America, which was a major factor in the closing of a newly renovated plant in North Carolina, an approximately 50% reduction in manufacturing, large-scale layoffs, and induced early retirements.[14]. Charles Schwab Investment Management Inc. raised its position in Altria Group by 17.9% in the second quarter. The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. ValuEngine cut Altria Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 6th. It is among the top 10 makers of premium wines in the United States. SABMiller is the world’s second-largest brewing company after Budweiser. Altria, R.J. Reynolds Tobacco, Lorillard, and Philip Morris USA intentionally designed cigarettes to make them more addictive. The corporate parent’s headquarters is in Virginia. Finally, Piper Sandler reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Altria Group in a research note on Tuesday, July 7th. [23] The company now has its head offices in an unincorporated area of Henrico County, Virginia, near Richmond.
Altria's shares traded at over $66 per share, and its market capitalization was valued at over US$118.5 billion in October 2018.
Aside from the Philip Morris/Altria headquarters, some of their other buildings included the Altria Center for Research and Technology in downtown Richmond, their manufacturing center in South Richmond, and the adjacent operations center which began shutting down in 2007-2008, as a result of the loss of demand from PMI member companies. Altria also maintains large minority stakes in Belgium-based brewer ABInBev, the Canadian cannabis company Cronos Group, and the e-cigarette maker JUUL Labs. The company has a debt-to-equity ratio of 4.76, a current ratio of 0.75 and a quick ratio of 0.54. This list may not reflect recent changes (). Michelle Wine Estates. Dinyar S. Devitre (2008– ), special advisor. oral nicotine pouches. Altria is the parent company of Philip Morris USA (producer of Marlboro cigarettes), John Middleton, Inc., U.S. Smokeless Tobacco Company, Inc., Philip Morris Capital Corporation, and Chateau Ste. Altria Group’s dividend payout ratio is currently 81.52%. Smokeless tobacco has become the fastest-growing U.S. market segment for tobacco as cigarette sales continue to decline. [7], Philip Morris executives thought a name change would insulate the larger corporation and its other operating companies from the political pressures on tobacco. Andersen Consulting) and Verizon being notable examples,[5] though linguist Steven Pinker suggests that in fact the name is an "egregious example" of phonesthesia — with the company attempting to "switch its image from bad people who sell addictive carcinogens to a place or state marked by altruism and other lofty values". According to the Center for Public Integrity, Altria spent around $101 million on lobbying the United States government between 1998 and 2004, making it the second most active organization in the nation. In 2009, Altria finalized its purchase of UST Inc., whose products included smokeless tobacco (made by U.S. Smokeless Tobacco Company) and wine (made by Ste. Pages in category "Altria Group subsidiaries" The following 5 pages are in this category, out of 5 total. [29][30] The lawsuit claimed that Altria's marketing of "light" and "low tar" cigarettes constituted fraudulent misrepresentations under the Maine Unfair Trade Practices Act (MUTPA) because it deceived smokers into thinking the products are safer than regular cigarettes. State Street Corp now owns 80,112,432 shares of the company’s stock valued at $3,162,460,000 after purchasing an additional 3,957,880 shares during the period. Certain active subsidiaries of the Company and their subsidiaries as of December 31, 2010, are listed below.
Altria Group had a positive return on equity of 109.11% and a negative net margin of 3.57%. Some of its labels include Stag’s Leap, Conn Creek, Snoqualmie and Columbia Crest. That same year, Altria began selling all its shares of Philip Morris International to Altria stockholders, a spin-off that was completed on March 28, 2008. Civil Action No. [20], Members of the board of directors of Altria Group as of February 2013 were:[21].
John Middleton is a cigar and pipe-tobacco maker. Other brand names include Chesterfield, Parliament and Virginia Slims. [22] In 2003, Philip Morris announced that it would move its headquarters to Virginia. The firm acquired 20,168 shares of the company’s stock, valued at approximately $816,000. Philip Morris Capital Corporation is Altria’s financial services provider, based in Stamford, Connecticut. Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO). Altria emerged from Philip Morris.
[9], In 2006, a United States court found that Philip Morris "publicly ... disputed scientific findings linking smoking and disease knowing their assertions were false." [7], The rebranding took place amidst social, legal, and financially troubled circumstances. [25][26], Altria also funded The Advancement of Sound Science Coalition which lobbied against the scientific consensus on anthropogenic climate change. The company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.03. Invesco Ltd. raised its position in Altria Group by 2.6% in the first quarter. ALTRIA GROUP, INC. SUBSIDIARIES . In 2008, Altria officially moved its headquarters from New York City to Richmond, Virginia after Philip Morris sold its downtown offices in New York City a decade earlier.
Its domestic production hub is in Richmond, Virginia. The business has a fifty day moving average price of $41.32 and a 200 day moving average price of $40.21. MO opened at $39.38 on Wednesday. In 2010 Altria Group (MO) ranked at Fortune number 137, whereas its former asset, Philip Morris International, was ranked 94th. Copyright 2020 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. It includes leveraged and direct-finance leases in its portfolio, and provides lease financing for assets as diverse as aircraft, real estate and power generation equipment. Nabil Y. Sakkab (2008– ), retired Senior Vice President, corporate research and development, This page was last edited on 26 September 2020, at 13:21. Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. In August 2006, the Altria group was found guilty of civil fraud and racketeering.
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