Atwood & Palmer Inc. lifted its position in shares of Altria Group (NYSE:MO) by 2.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,400 shares of the company’s stock after buying an additional 500 shares during the period. Atwood & Palmer Inc.’s holdings in Altria Group were worth $1,370,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MO. Swiss National Bank increased its stake in Altria Group by 25.1% in the 1st quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock worth $534,678,000 after purchasing an additional 1,501,400 shares during the period. Karp Capital Management Corp purchased a new position in Altria Group in the 1st quarter worth approximately $104,292,000. Prudential Financial Inc. increased its stake in Altria Group by 26.6% in the 2nd quarter. Prudential Financial Inc. now owns 4,957,386 shares of the company’s stock worth $369,177,000 after purchasing an additional 1,040,250 shares during the period. Canada Pension Plan Investment Board increased its stake in Altria Group by 20.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,586,398 shares of the company’s stock worth $341,549,000 after purchasing an additional 787,000 shares during the period. Finally, State Street Corp increased its stake in Altria Group by 0.9% in the 1st quarter. State Street Corp now owns 74,624,722 shares of the company’s stock worth $5,329,771,000 after purchasing an additional 687,246 shares during the period. 62.37% of the stock is currently owned by institutional investors.
In other news, Director Dinyar S. Devitre sold 32,000 shares of the company’s 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.
Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 earnings per share. research analysts forecast that Altria Group will post 3.28 EPS for the current year.
Altria Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 0.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
A number of brokerages have recently weighed in on MO. Berenberg Bank reiterated a “hold” rating on shares of Altria Group in a research report on Tuesday, October 31st. UBS AG restated a “hold” rating on shares of Altria Group in a research report on Tuesday, August 8th. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.65 price target on the stock. in a research report on Monday, November 13th. Piper Jaffray Companies set a $76.00 price target on Altria Group and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $62.00 target price on shares of Altria Group in a report on Tuesday, October 3rd. One investment 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. Altria Group presently has an average rating of “Hold” and an average price target of $72.38.
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Altria Group Profile
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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