Sullivan Bruyette Speros & Blaney LLC cut its stake in Altria Group Inc (NYSE:MO) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,445 shares of the company’s stock after selling 587 shares during the period. Sullivan Bruyette Speros & Blaney LLC’s holdings in Altria Group were worth $447,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Country Trust Bank raised its holdings in shares of Altria Group by 86.9% in the first quarter. Country Trust Bank now owns 514 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the last quarter. James Investment Research Inc. purchased a new stake in shares of Altria Group in the first quarter valued at about $43,000. Creative Financial Designs Inc. ADV raised its holdings in shares of Altria Group by 113.4% in the first quarter. Creative Financial Designs Inc. ADV now owns 783 shares of the company’s stock valued at $45,000 after buying an additional 416 shares during the last quarter. Interactive Financial Advisors raised its holdings in shares of Altria Group by 166.7% in the first quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock valued at $46,000 after buying an additional 500 shares during the last quarter. Finally, HMS Capital Management LLC purchased a new stake in shares of Altria Group in the second quarter valued at about $41,000. 62.72% of the stock is owned by hedge funds and other institutional investors.
Shares of Altria Group stock traded up $0.05 on Wednesday, reaching $46.09. 1,825,729 shares of the stock were exchanged, compared to its average volume of 7,961,507. Altria Group Inc has a 1-year low of $42.40 and a 1-year high of $66.04. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87. The business has a fifty day moving average price of $48.30 and a two-hundred day moving average price of $51.45. The firm has a market capitalization of $85.99 billion, a PE ratio of 11.55, a PEG ratio of 1.46 and a beta of 0.38.
Altria Group declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 1.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
A number of brokerages have recently commented on MO. Wells Fargo & Co reaffirmed a “buy” rating on shares of Altria Group in a report on Friday, August 9th. TheStreet cut shares of Altria Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. Morgan Stanley reduced their target price on shares of Altria Group from $48.00 to $44.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada set a $68.00 target price on shares of Altria Group and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Citigroup set a $45.00 target price on shares of Altria Group and gave the company a “sell” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $60.74.
About Altria Group
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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