Field & Main Bank acquired a new stake in shares of Altria Group Inc (NYSE:MO) in the 4th quarter, HoldingsChannel reports. The firm acquired 15,397 shares of the company’s stock, valued at approximately $1,100,000. Altria Group accounts for about 1.1% of Field & Main Bank’s investment portfolio, making the stock its 26th biggest position.
Several other institutional investors and hedge funds have also modified their holdings of MO. Balentine LLC raised its stake in Altria Group by 32.4% in the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after acquiring an additional 357 shares during the last quarter. NewSquare Capital LLC raised its stake in Altria Group by 4,734.7% in the 3rd quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after acquiring an additional 106,530 shares during the last quarter. Quantum Capital Management LLC NJ purchased a new position in Altria Group in the 3rd quarter worth $114,000. Northwest Investment Counselors LLC raised its stake in Altria Group by 557.0% in the 3rd quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock worth $115,000 after acquiring an additional 1,543 shares during the last quarter. Finally, Oak Point Wealth Management purchased a new position in Altria Group in the 4th quarter worth $120,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.
In other Altria Group news, CEO Craig A. Johnson sold 14,953 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $66.59, for a total transaction of $995,720.27. Following the sale, the chief executive officer now directly owns 64,809 shares of the company’s stock, valued at approximately $4,315,631.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James E. Dillard III sold 6,500 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $63.13, for a total value of $410,345.00. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.
Shares of Altria Group Inc (NYSE MO) opened at $65.46 on Tuesday. The firm has a market capitalization of $124,910.11, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.91 and a beta of 0.53. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.64. Altria Group Inc has a 12-month low of $60.01 and a 12-month high of $77.79.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.80 billion. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. equities analysts anticipate 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 allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
A number of brokerages recently issued reports on MO. Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $76.87 target price for the company in a research note on Monday, February 12th. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Tuesday, February 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $62.00 target price (down previously from $65.00) on shares of Altria Group in a research note on Monday, February 5th. Piper Jaffray Companies raised their target price on Altria Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Finally, Jefferies Group upgraded Altria Group from a “hold” rating to a “buy” rating and reduced their target price for the stock from $70.04 to $70.00 in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $73.66.
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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