Security Asset Management maintained its position in Altria Group (NYSE:MO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,852 shares of the company’s stock at the end of the first quarter. Altria Group makes up about 1.3% of Security Asset Management’s investment portfolio, making the stock its 29th largest position. Security Asset Management’s holdings in Altria Group were worth $1,561,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Davis R M Inc. raised its stake in shares of Altria Group by 23.4% in the first quarter. Davis R M Inc. now owns 14,861 shares of the company’s stock valued at $1,061,000 after buying an additional 2,821 shares during the period. Cobblestone Capital Advisors LLC NY raised its stake in shares of Altria Group by 1.5% in the first quarter. Cobblestone Capital Advisors LLC NY now owns 11,277 shares of the company’s stock valued at $805,000 after buying an additional 163 shares during the period. Checchi Capital Advisers LLC increased its stake in Altria Group by 4.2% in the first quarter. Checchi Capital Advisers LLC now owns 23,859 shares of the company’s stock valued at $1,704,000 after buying an additional 970 shares in the last quarter. Pekin Singer Strauss Asset Management IL increased its stake in Altria Group by 17.8% in the first quarter. Pekin Singer Strauss Asset Management IL now owns 10,970 shares of the company’s stock valued at $783,000 after buying an additional 1,660 shares in the last quarter. Finally, HPM Partners LLC acquired a new stake in Altria Group during the first quarter valued at approximately $2,206,000. 62.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Altria Group (MO) opened at 64.31 on Friday. Altria Group has a 1-year low of $60.01 and a 1-year high of $77.79. The company has a market cap of $123.99 billion, a price-to-earnings ratio of 8.48 and a beta of 0.61. The stock has a 50 day moving average of $71.34 and a 200 day moving average of $72.73.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by $0.01. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. Altria Group’s revenue was up 3.2% compared to the same quarter last year. On average, equities analysts forecast that Altria Group will post $3.26 EPS for the current year.
Altria Group declared that its board has approved a share buyback program on Thursday, July 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 0.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
TRADEMARK VIOLATION NOTICE: “Security Asset Management Has $1,561,000 Stake in Altria Group (NYSE:MO)” was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://stocknewstimes.com/2017/08/12/security-asset-management-has-1561000-stake-in-altria-group-nysemo-updated-updated.html.
Several research firms recently commented on MO. Vetr downgraded shares of Altria Group from a “buy” rating to a “hold” rating and set a $80.38 target price on the stock. in a research report on Monday, June 19th. BidaskClub upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Royal Bank Of Canada restated a “sell” rating and issued a $62.00 price target on shares of Altria Group in a research report on Friday, May 26th. Cowen and Company set a $78.00 price target on shares of Altria Group and gave the stock a “hold” rating in a research report on Friday, July 28th. Finally, Piper Jaffray Companies set a $76.00 price target on shares of Altria Group and gave the stock a “buy” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $72.66.
In other news, Director George Munoz sold 5,000 shares of Altria Group stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total transaction of $361,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.
About Altria Group
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.
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.
