Quilter Investors LTD lessened its holdings in shares of Altria Group Inc (NYSE:MO) by 52.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,003 shares of the company’s stock after selling 112,238 shares during the period. Altria Group comprises 4.6% of Quilter Investors LTD’s holdings, making the stock its 8th largest holding. Quilter Investors LTD’s holdings in Altria Group were worth $4,782,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Yorktown Management & Research Co Inc bought a new position in shares of Altria Group during the second quarter valued at $417,000. AlphaMark Advisors LLC grew its stake in Altria Group by 1,007.4% in the 2nd quarter. AlphaMark Advisors LLC now owns 25,348 shares of the company’s stock worth $1,200,000 after buying an additional 23,059 shares in the last quarter. Pettyjohn Wood & White Inc. grew its stake in Altria Group by 2.9% in the 2nd quarter. Pettyjohn Wood & White Inc. now owns 15,726 shares of the company’s stock worth $745,000 after buying an additional 440 shares in the last quarter. Spectrum Management Group Inc. grew its stake in Altria Group by 493.8% in the 2nd quarter. Spectrum Management Group Inc. now owns 3,563 shares of the company’s stock worth $169,000 after buying an additional 2,963 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its stake in Altria Group by 2.4% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 20,460 shares of the company’s stock worth $969,000 after buying an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.
MO has been the topic of a number of recent analyst reports. Goldman Sachs Group cut shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 target price on the stock. in a research note on Friday, July 12th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Altria Group in a research note on Friday, August 9th. Citigroup set a $45.00 target price on Altria Group and gave the stock a “sell” rating in a research report on Friday, April 26th. TheStreet downgraded Altria Group from a “b-” rating to a “c+” rating in a research report on Wednesday. Finally, Morgan Stanley decreased their target price on Altria Group from $48.00 to $44.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Altria Group has a consensus rating of “Hold” and a consensus price target of $60.74.
Shares of MO stock traded up $0.99 during trading hours on Friday, reaching $46.48. 6,923,200 shares of the company’s stock were exchanged, compared to its average volume of 7,875,297. The stock’s fifty day moving average price is $48.38 and its two-hundred day moving average price is $51.54. The stock has a market cap of $84.98 billion, a PE ratio of 11.65, a PEG ratio of 1.42 and a beta of 0.38. Altria Group Inc has a 1 year low of $42.40 and a 1 year high of $66.04. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87.
Altria Group (NYSE:MO) last issued its earnings results on Tuesday, July 30th. The company reported $1.10 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.10. The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. Altria Group’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share. On average, equities analysts expect that Altria Group Inc will post 4.17 EPS for the current fiscal year.
Altria Group declared that its board has authorized a share repurchase program on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 1.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.
In other Altria Group news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $52.48, for a total value of $104,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.
Altria Group Company Profile
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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