IFG Advisory LLC boosted its stake in shares of Altria Group Inc (NYSE:MO) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,555 shares of the company’s stock after buying an additional 712 shares during the quarter. IFG Advisory LLC’s holdings in Altria Group were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Country Trust Bank grew its position 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 purchasing an additional 239 shares during the last quarter. HMS Capital Management LLC acquired a new stake in shares of Altria Group in the second quarter valued at approximately $41,000. James Investment Research Inc. acquired a new stake in shares of Altria Group in the first quarter valued at approximately $43,000. Creative Financial Designs Inc. ADV grew its position 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 purchasing an additional 416 shares during the last quarter. Finally, Interactive Financial Advisors grew its position 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 purchasing an additional 500 shares during the last quarter. Institutional investors own 62.72% of the company’s stock.
Several analysts have recently commented on MO shares. TheStreet lowered shares of Altria Group from a “b-” rating to a “c+” rating in a research report on Wednesday, August 14th. ValuEngine lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 29th. Royal Bank of Canada set a $68.00 price target on shares of Altria Group and gave the company a “buy” rating in a research report on Wednesday, July 31st. Citigroup set a $45.00 price target on shares of Altria Group and gave the company a “sell” rating in a research report on Friday, April 26th. Finally, Goldman Sachs Group lowered shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price target on the stock. in a research report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $60.74.
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, hitting the Zacks’ consensus estimate of $1.10. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same quarter last year, the business earned $1.01 earnings per share. Altria Group’s revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that Altria Group Inc will post 4.17 EPS for the current year.
Altria Group announced that its Board of Directors has initiated a share buyback program on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board 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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