Lakeview Capital Partners LLC boosted its holdings in shares of Altria Group Inc (NYSE:MO) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,951 shares of the company’s stock after buying an additional 709 shares during the period. Lakeview Capital Partners LLC’s holdings in Altria Group were worth $613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Country Trust Bank increased 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 purchasing an additional 239 shares during the period. HMS Capital Management LLC acquired a new position in shares of Altria Group in the second quarter valued at about $41,000. James Investment Research Inc. acquired a new position in shares of Altria Group in the first quarter valued at about $43,000. Creative Financial Designs Inc. ADV increased 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 purchasing an additional 416 shares during the period. Finally, Interactive Financial Advisors increased 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 purchasing an additional 500 shares during the period. 62.72% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. Wells Fargo & Co reissued a “buy” rating on shares of Altria Group in a report on Friday, August 9th. Morgan Stanley cut their price objective on Altria Group from $48.00 to $44.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. ValuEngine lowered Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Goldman Sachs Group lowered Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price objective on the stock. in a report on Friday, July 12th. Finally, 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. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $60.74.
Altria Group (NYSE:MO) last issued its earnings results on Tuesday, July 30th. The company reported $1.10 EPS for the quarter, hitting analysts’ consensus estimates of $1.10. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. The firm had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts expect that Altria Group Inc will post 4.17 earnings per share for the current year.
Altria Group declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $52.48, for a total value of $104,960.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by corporate insiders.
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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