Midas Management Corp bought a new stake in Altria Group Inc (NYSE:MO) in the 4th quarter, Holdings Channel reports. The institutional investor bought 47,100 shares of the company’s stock, valued at approximately $3,363,000. Altria Group makes up approximately 1.3% of Midas Management Corp’s investment portfolio, making the stock its 8th biggest holding.
Other large investors have also recently modified their holdings of the company. Balentine LLC grew its holdings in shares of Altria Group by 32.4% during the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after purchasing an additional 357 shares during the last quarter. Oak Point Wealth Management bought a new stake in shares of Altria Group during the 4th quarter valued at approximately $120,000. INR Advisory Services LLC bought a new stake in shares of Altria Group during the 2nd quarter valued at approximately $134,000. Quantum Capital Management LLC NJ bought a new stake in shares of Altria Group during the 3rd quarter valued at approximately $114,000. Finally, Northwest Investment Counselors LLC grew its holdings in shares of Altria Group by 557.0% during the 3rd quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock valued at $115,000 after purchasing an additional 1,543 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.
Shares of Altria Group Inc (NYSE MO) opened at $65.46 on Monday. Altria Group Inc has a 1-year low of $60.01 and a 1-year high of $77.79. The company has a current ratio of 0.64, a quick ratio of 0.31 and a debt-to-equity ratio of 0.85. The firm has a market cap of $124,910.00, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 1.91 and a beta of 0.53.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, February 1st. The company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.11. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. equities analysts predict that Altria Group Inc will post 4 earnings per share for the current fiscal year.
Altria Group announced that its board has approved a share buyback plan on Thursday, February 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, SVP James E. Dillard III sold 6,500 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $63.13, for a total value of $410,345.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Craig A. Johnson sold 14,953 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $66.59, for a total transaction of $995,720.27. Following the completion of the sale, the chief executive officer now directly owns 64,809 shares in the company, valued at $4,315,631.31. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
Several brokerages recently issued reports on MO. Berenberg Bank reaffirmed a “hold” rating on shares of Altria Group in a report on Tuesday, October 31st. Vetr raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.45 price target on the stock in a report on Monday, February 5th. UBS Group decreased their price target on shares of Altria Group from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Jefferies Group raised shares of Altria Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $70.04 to $70.00 in a report on Friday, January 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $62.00 price target (down from $65.00) on shares of Altria Group in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $73.66.
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Altria Group Company Profile
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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