Private Ocean LLC reduced its holdings in Altria Group Inc (NYSE:MO) by 68.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 660 shares of the company’s stock after selling 1,422 shares during the quarter. Private Ocean LLC’s holdings in Altria Group were worth $27,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of MO. Julex Capital Management LLC purchased a new position in Altria Group in the 3rd quarter valued at approximately $25,000. Vigilant Capital Management LLC increased its stake in Altria Group by 140.3% in the 3rd quarter. Vigilant Capital Management LLC now owns 704 shares of the company’s stock valued at $29,000 after purchasing an additional 411 shares in the last quarter. KCS Wealth Advisory purchased a new position in Altria Group in the 3rd quarter valued at approximately $40,000. HMS Capital Management LLC purchased a new position in Altria Group in the 2nd quarter valued at approximately $41,000. Finally, Salomon & Ludwin LLC increased its stake in Altria Group by 189.0% in the 2nd quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock valued at $41,000 after purchasing an additional 567 shares in the last quarter. 63.27% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the company. Morgan Stanley set a $44.00 price target on Altria Group and gave the stock a “hold” rating in a research report on Tuesday, September 24th. Cowen restated a “hold” rating on shares of Altria Group in a report on Thursday, September 12th. Royal Bank of Canada set a $68.00 price objective on Altria Group and gave the stock a “buy” rating in a report on Wednesday, July 31st. TheStreet cut Altria Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. Finally, Citigroup lifted their target price on Altria Group from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $54.35.
Altria Group stock traded up $0.43 during midday trading on Friday, reaching $46.41. The stock had a trading volume of 5,522,956 shares, compared to its average volume of 10,315,709. Altria Group Inc has a twelve month low of $39.30 and a twelve month high of $66.04. The stock has a market capitalization of $86.40 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.72 and a beta of 0.41. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.27 and a current ratio of 0.56. The stock’s 50-day simple moving average is $43.42 and its 200 day simple moving average is $47.52.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.04. Altria Group had a return on equity of 56.17% and a net margin of 7.00%. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter last year, the firm earned $1.08 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts predict that Altria Group Inc will post 4.21 earnings per share for the current fiscal year.
Altria Group declared that its Board of Directors has approved a share buyback program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 1.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Altria Group 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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