Beese Fulmer Investment Management Inc. lowered its stake in Altria Group Inc (NYSE:MO) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,532 shares of the company’s stock after selling 715 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Altria Group were worth $1,966,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Highland Capital Management LLC grew its position in shares of Altria Group by 29.6% during the fourth quarter. Highland Capital Management LLC now owns 19,250 shares of the company’s stock worth $1,375,000 after purchasing an additional 4,392 shares in the last quarter. Northside Capital Management LLC purchased a new stake in shares of Altria Group during the fourth quarter worth about $1,420,000. Lourd Capital LLC grew its position in shares of Altria Group by 44.5% during the fourth quarter. Lourd Capital LLC now owns 9,565 shares of the company’s stock worth $683,000 after purchasing an additional 2,946 shares in the last quarter. Atlas Brown Inc. grew its position in shares of Altria Group by 19.0% during the fourth quarter. Atlas Brown Inc. now owns 5,592 shares of the company’s stock worth $400,000 after purchasing an additional 892 shares in the last quarter. Finally, MPS Loria Financial Planners LLC purchased a new stake in shares of Altria Group during the fourth quarter worth about $220,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the company. Berenberg Bank reiterated a “hold” rating on shares of Altria Group in a research report on Tuesday, October 31st. Vetr upgraded Altria Group from a “hold” rating to a “buy” rating and set a $71.45 target price for the company in a research report on Monday, February 5th. UBS Group cut their price target on Altria Group from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, October 27th. Jefferies Group upgraded Altria Group from a “hold” rating to a “buy” rating and cut their price target for the company from $70.04 to $70.00 in a report on Friday, January 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $62.00 price target (down previously from $65.00) on shares of Altria Group in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.66.
Altria Group Inc (NYSE MO) opened at $63.34 on Friday. The firm has a market capitalization of $120,860.00, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 1.87 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 1-year low of $60.01 and a 1-year high of $77.79.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $4.71 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $0.68 EPS. equities research analysts expect that Altria Group Inc will post 4 earnings per share for the current fiscal year.
Altria Group declared that its Board of Directors has approved a share buyback program on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
In other news, CEO Craig A. Johnson sold 14,953 shares of Altria Group stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $66.59, for a total value of $995,720.27. Following the completion of the transaction, the chief executive officer now owns 64,809 shares in the company, valued at approximately $4,315,631.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James E. Dillard III sold 6,500 shares of Altria Group stock in a transaction that occurred on 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. Company insiders own 0.11% of the company’s stock.
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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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