Garde Capital Inc. maintained its stake in Altria Group (NYSE:MO) during the first quarter, according to its most recent filing with the SEC. The fund owned 4,891 shares of the company’s stock at the end of the first quarter. Garde Capital Inc.’s holdings in Altria Group were worth $349,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Acropolis Investment Management LLC boosted its stake in Altria Group by 0.3% in the first quarter. Acropolis Investment Management LLC now owns 1,939 shares of the company’s stock valued at $138,000 after buying an additional 5 shares during the period. Mascoma Wealth Management LLC increased its position in shares of Altria Group by 0.3% in the first quarter. Mascoma Wealth Management LLC now owns 2,701 shares of the company’s stock worth $193,000 after buying an additional 8 shares in the last quarter. HM Capital Management LLC increased its position in shares of Altria Group by 0.3% in the first quarter. HM Capital Management LLC now owns 3,435 shares of the company’s stock worth $245,000 after buying an additional 9 shares in the last quarter. Strategic Financial Group LLC increased its position in shares of Altria Group by 0.4% in the first quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock worth $235,000 after buying an additional 14 shares in the last quarter. Finally, Lafayette Investments Inc. increased its position in shares of Altria Group by 0.7% in the first quarter. Lafayette Investments Inc. now owns 3,863 shares of the company’s stock worth $276,000 after buying an additional 25 shares in the last quarter. Institutional investors own 62.39% of the company’s stock.
Altria Group (NYSE MO) traded up 0.56% during midday trading on Tuesday, hitting $65.20. 950,183 shares of the company’s stock traded hands. The company has a market capitalization of $125.71 billion, a PE ratio of 8.60 and a beta of 0.61. The company has a 50 day moving average of $71.01 and a 200-day moving average of $72.71. Altria Group has a 52 week low of $60.01 and a 52 week high of $77.79.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. Altria Group’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. Equities research analysts predict that Altria Group will post $3.26 earnings per share for the current year.
Altria Group declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 0.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Cowen and Company reiterated a “hold” rating and issued a $74.00 price target on shares of Altria Group in a report on Tuesday, July 11th. Piper Jaffray Companies assumed coverage on shares of Altria Group in a report on Wednesday, May 24th. They issued an “overweight” rating and a $76.00 price target for the company. BidaskClub downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $70.00 price target (down previously from $71.00) on shares of Altria Group in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $72.66.
In other Altria Group news, Director George Munoz sold 5,000 shares of the business’s 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 filing with the SEC, which is available at this hyperlink. Also, CEO Martin J. Barrington sold 15,300 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the sale, the chief executive officer now owns 701,074 shares in the company, valued at approximately $45,590,842.22. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.
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.
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