Annex Advisory Services LLC reduced its stake in Altria Group (NYSE:MO) by 69.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,523 shares of the company’s stock after selling 10,082 shares during the period. Annex Advisory Services LLC’s holdings in Altria Group were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of MO. Sterling Investment Advisors Ltd. grew its position in shares of Altria Group by 133.3% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after buying an additional 800 shares during the period. Solaris Asset Management LLC grew its position in shares of Altria Group by 65.7% during the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after buying an additional 557 shares during the period. CKW Financial Group acquired a new stake in Altria Group in the 2nd quarter valued at $109,000. Perigon Wealth Management LLC grew its position in Altria Group by 4.7% in the 1st quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after purchasing an additional 74 shares during the period. Finally, Proficio Capital Partners LLC grew its position in Altria Group by 97.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after purchasing an additional 821 shares during the period. Institutional investors and hedge funds own 62.29% of the company’s stock.
In other Altria Group news, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $61.22, for a total transaction of $1,959,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.
Altria Group (NYSE:MO) opened at $65.02 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The stock has a market capitalization of $124,070.50, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.66 and a beta of 0.60.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. equities analysts anticipate that Altria Group will post 3.28 EPS for the current fiscal year.
Altria Group announced that its board has authorized a stock buyback plan on Thursday, July 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 0.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
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A number of equities analysts have issued reports on MO shares. BidaskClub downgraded shares of Altria Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Wednesday, October 11th. Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price objective on the stock in a research note on Tuesday, October 24th. Wells Fargo & Company reiterated an “outperform” rating and set a $80.00 price target on shares of Altria Group in a research report on Monday, July 31st. Finally, Cowen and Company raised Altria Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $64.00 to $71.00 in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $72.06.
About Altria Group
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. 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 cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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