Cipher Capital LP trimmed its position in shares of Altria Group (NYSE:MO) by 77.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,319 shares of the company’s stock after selling 115,011 shares during the period. Cipher Capital LP’s holdings in Altria Group were worth $2,481,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC raised its stake in Altria Group by 21.0% in the second quarter. Sequoia Financial Advisors LLC now owns 8,055 shares of the company’s stock worth $600,000 after buying an additional 1,396 shares in the last quarter. Delta Lloyd Asset Management N.V. bought a new position in Altria Group in the second quarter worth about $12,179,000. Swiss National Bank grew its holdings in Altria Group by 9.8% in the second quarter. Swiss National Bank now owns 8,222,194 shares of the company’s stock worth $612,307,000 after purchasing an additional 735,800 shares during the period. Tuttle Tactical Management LLC grew its holdings in Altria Group by 85.7% in the second quarter. Tuttle Tactical Management LLC now owns 13,948 shares of the company’s stock worth $1,183,000 after purchasing an additional 6,435 shares during the period. Finally, Budros Ruhlin & Roe Inc. grew its holdings in Altria Group by 25.4% in the second quarter. Budros Ruhlin & Roe Inc. now owns 4,171 shares of the company’s stock worth $311,000 after purchasing an additional 844 shares during the period. 62.37% of the stock is owned by institutional investors.
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 shares were sold at an average price of $61.22, for a total value of $1,959,040.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.11% of the company’s stock.
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Shares of Altria Group (NYSE MO) opened at $65.65 on Wednesday. The company has a market cap of $125,616.15, a price-to-earnings ratio of 20.83, a PEG ratio of 2.69 and a beta of 0.60. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.48 and a current ratio of 0.77.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.03. The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.82 EPS. analysts anticipate that Altria Group will post 3.28 earnings per share for the current fiscal year.
Altria Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
A number of brokerages have weighed in on MO. Berenberg Bank restated a “hold” rating on shares of Altria Group in a report on Tuesday, October 31st. UBS AG reiterated a “hold” rating on shares of Altria Group in a report on Tuesday, August 8th. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $79.51 price target on the stock in a report on Monday, July 31st. Piper Jaffray Companies set a $76.00 price target on shares of Altria Group and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $62.00 price target on shares of Altria Group in a report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Altria Group currently has an average rating of “Hold” and a consensus price target of $72.38.
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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