Brookstone Capital Management decreased its stake in shares of Altria Group (NYSE:MO) by 6.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,531 shares of the company’s stock after selling 6,539 shares during the quarter. Brookstone Capital Management’s holdings in Altria Group were worth $6,742,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in MO. Swiss National Bank raised its position in Altria Group by 25.1% in the first quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock valued at $534,678,000 after purchasing an additional 1,501,400 shares during the period. Karp Capital Management Corp purchased a new stake in Altria Group in the first quarter valued at $104,292,000. Prudential Financial Inc. raised its position in Altria Group by 26.6% in the second quarter. Prudential Financial Inc. now owns 4,957,386 shares of the company’s stock valued at $369,177,000 after purchasing an additional 1,040,250 shares during the period. Canada Pension Plan Investment Board raised its position in Altria Group by 20.7% in the second quarter. Canada Pension Plan Investment Board now owns 4,586,398 shares of the company’s stock valued at $341,549,000 after purchasing an additional 787,000 shares during the period. Finally, State Street Corp raised its position in Altria Group by 0.9% in the first quarter. State Street Corp now owns 74,624,722 shares of the company’s stock valued at $5,329,771,000 after purchasing an additional 687,246 shares during the period. Hedge funds and other institutional investors own 62.29% of the company’s stock.
A number of equities research analysts have commented on MO shares. BidaskClub upgraded Altria Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.65 target price on the stock. in a research report on Monday. Jefferies Group LLC set a $67.00 target price on Altria Group and gave the company a “hold” rating in a research report on Thursday, August 24th. Zacks Investment Research downgraded Altria Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $76.00 target price on shares of Altria Group in a research report on Friday, October 27th. 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 stock. The stock currently has an average rating of “Hold” and an average price target of $72.04.
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In related news, Director Dinyar S. Devitre sold 32,000 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $61.22, for a total transaction of $1,959,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.
Altria Group (NYSE MO) opened at $65.73 on Wednesday. Altria Group has a one year low of $60.01 and a one year high of $77.79. The company has a market capitalization of $125,430.00, a price-to-earnings ratio of 20.83, a P/E/G ratio of 2.69 and a beta of 0.60. The company has a current ratio of 0.77, a quick ratio of 0.48 and a debt-to-equity ratio of 1.14.
Altria Group (NYSE:MO) last released its earnings results on Thursday, October 26th. The company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the firm posted $0.82 EPS. Altria Group’s revenue for the quarter was down 1.8% on a year-over-year basis. analysts anticipate that Altria Group will post 3.28 earnings per share for the current fiscal year.
Altria Group declared that its board has approved a stock buyback program on Thursday, July 27th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 0.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Altria Group Company 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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