Parkside Financial Bank & Trust Reduces Position in Altria Group Inc (NYSE:MO)

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Parkside Financial Bank & Trust lessened its holdings in shares of Altria Group Inc (NYSE:MO) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,947 shares of the company’s stock after selling 980 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Altria Group were worth $406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Nuveen Asset Management LLC lifted its stake in shares of Altria Group by 584.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 8,679,362 shares of the company’s stock valued at $410,968,000 after buying an additional 7,411,523 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Altria Group by 74.0% during the 2nd quarter. AQR Capital Management LLC now owns 4,727,202 shares of the company’s stock valued at $223,833,000 after buying an additional 2,010,023 shares in the last quarter. Natixis lifted its stake in shares of Altria Group by 428.3% during the 2nd quarter. Natixis now owns 1,846,808 shares of the company’s stock valued at $87,447,000 after buying an additional 1,497,259 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Altria Group by 73.2% during the 2nd quarter. Toronto Dominion Bank now owns 2,428,023 shares of the company’s stock valued at $114,938,000 after buying an additional 1,026,362 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of Altria Group by 11.0% during the 2nd quarter. Morgan Stanley now owns 8,811,852 shares of the company’s stock valued at $417,241,000 after buying an additional 870,944 shares in the last quarter. Institutional investors and hedge funds own 63.27% of the company’s stock.

NYSE MO traded up $0.43 on Friday, reaching $46.41. The company had a trading volume of 5,522,956 shares, compared to its average volume of 10,315,709. The company has a quick ratio of 0.27, a current ratio of 0.56 and a debt-to-equity ratio of 2.53. 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 firm’s 50 day moving average price is $43.42 and its 200 day moving average price is $47.52. Altria Group Inc has a 12 month low of $39.30 and a 12 month high of $66.04.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Altria Group had a net margin of 7.00% and a return on equity of 56.17%. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the previous year, the firm posted $1.08 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts expect that Altria Group Inc will post 4.21 EPS for the current year.

Altria Group announced that its board has authorized a share repurchase program on Tuesday, July 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

A number of research analysts recently weighed in on MO shares. Royal Bank of Canada set a $68.00 target price on shares of Altria Group and gave the company a “buy” rating in a research note on Wednesday, July 31st. Argus set a $60.00 price target on shares of Altria Group and gave the company a “buy” rating in a report on Thursday, October 10th. ValuEngine downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Stifel Nicolaus reiterated a “buy” rating on shares of Altria Group in a report on Tuesday, October 15th. Finally, TheStreet downgraded shares of Altria Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Altria Group currently has an average rating of “Hold” and a consensus target price of $54.35.

Altria Group Company 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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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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