Yorktown Management & Research Co Inc bought a new stake in shares of Altria Group Inc (NYSE:MO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,800 shares of the company’s stock, valued at approximately $417,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MO. AlphaMark Advisors LLC boosted its holdings in Altria Group by 1,007.4% during the 2nd quarter. AlphaMark Advisors LLC now owns 25,348 shares of the company’s stock valued at $1,200,000 after acquiring an additional 23,059 shares during the period. Pettyjohn Wood & White Inc. boosted its holdings in Altria Group by 2.9% during the 2nd quarter. Pettyjohn Wood & White Inc. now owns 15,726 shares of the company’s stock valued at $745,000 after acquiring an additional 440 shares during the period. Spectrum Management Group Inc. boosted its holdings in Altria Group by 493.8% during the 2nd quarter. Spectrum Management Group Inc. now owns 3,563 shares of the company’s stock valued at $169,000 after acquiring an additional 2,963 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in Altria Group by 2.4% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 20,460 shares of the company’s stock valued at $969,000 after acquiring an additional 480 shares during the period. Finally, Clarius Group LLC boosted its holdings in Altria Group by 24.3% during the 2nd quarter. Clarius Group LLC now owns 8,795 shares of the company’s stock valued at $416,000 after acquiring an additional 1,717 shares during the period. 62.72% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on MO. Royal Bank of Canada set a $68.00 price objective on Altria Group and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley dropped their price objective on Altria Group from $48.00 to $44.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Citigroup set a $45.00 price objective on Altria Group and gave the company a “sell” rating in a report on Friday, April 26th. Wells Fargo & Co restated a “buy” rating on shares of Altria Group in a report on Friday, August 9th. Finally, Goldman Sachs Group cut Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price objective for the company. in a report on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. Altria Group currently has an average rating of “Hold” and a consensus target price of $60.74.
NYSE:MO traded up $0.53 during mid-day trading on Monday, hitting $47.01. 131,434 shares of the company’s stock traded hands, compared to its average volume of 7,875,297. The company has a fifty day moving average of $48.38 and a 200 day moving average of $51.54. Altria Group Inc has a twelve month low of $42.40 and a twelve month high of $66.04. The company has a market capitalization of $84.98 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.42 and a beta of 0.38. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.28 and a current ratio of 0.56.
Altria Group (NYSE:MO) last announced its earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.10. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period in the prior year, the company posted $1.01 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, research analysts expect that Altria Group Inc will post 4.17 earnings per share for the current fiscal year.
Altria Group announced that its board has approved a stock repurchase program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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