Capital Advantage Inc. decreased its holdings in Altria Group (NYSE:MO) by 25.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,199 shares of the company’s stock after selling 1,452 shares during the quarter. Capital Advantage Inc.’s holdings in Altria Group were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Cadinha & Co. LLC lifted its stake in Altria Group by 34.8% in the second quarter. Cadinha & Co. LLC now owns 9,301 shares of the company’s stock worth $693,000 after acquiring an additional 2,401 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in Altria Group by 164.9% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 244,398 shares of the company’s stock worth $18,149,000 after acquiring an additional 152,121 shares during the period. LMR Partners LLP purchased a new stake in Altria Group in the second quarter worth $1,120,000. Teacher Retirement System of Texas lifted its stake in Altria Group by 4.6% in the second quarter. Teacher Retirement System of Texas now owns 1,763,350 shares of the company’s stock worth $131,317,000 after acquiring an additional 76,988 shares during the period. Finally, Westwood Holdings Group Inc. lifted its stake in Altria Group by 10.3% in the first quarter. Westwood Holdings Group Inc. now owns 155,121 shares of the company’s stock worth $11,079,000 after acquiring an additional 14,444 shares during the period. 62.29% of the stock is owned by institutional investors.
Several equities analysts have commented on MO shares. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price objective for the company. in a research report on Wednesday, September 6th. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Wednesday, October 11th. Piper Jaffray Companies reissued a “buy” rating and set a $76.00 price objective on shares of Altria Group in a research report on Friday, October 27th. BidaskClub raised Altria Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada raised Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 price objective for the company in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $72.04.
Altria Group (NYSE MO) opened at $65.73 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. The stock has a market capitalization of $125,430.00, a PE ratio of 20.83, a PEG ratio of 2.69 and a beta of 0.60. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. Altria Group’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 EPS. research analysts expect that Altria Group will post 3.28 earnings per share for the current year.
Altria Group announced that its board has approved a stock repurchase program on Thursday, July 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 0.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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In related news, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $61.22, for a total value of $1,959,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by company insiders.
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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