Yacktman Asset Management LP decreased its position in Altria Group (NYSE:MO) by 1.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 25,000 shares of the company’s stock after selling 300 shares during the period. Yacktman Asset Management LP’s holdings in Altria Group were worth $1,785,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Advantage Investment Management LLC acquired a new stake in shares of Altria Group during the fourth quarter worth approximately $116,000. Feltz Wealth PLAN Inc. purchased a new position in Altria Group during the first quarter worth about $134,000. Acropolis Investment Management LLC raised its position in shares of 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 last quarter. Zions Bancorporation raised its position in shares of Altria Group by 4.3% in the fourth quarter. Zions Bancorporation now owns 2,428 shares of the company’s stock valued at $164,000 after buying an additional 99 shares during the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in shares of Altria Group by 102.5% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,669 shares of the company’s stock valued at $191,000 after buying an additional 1,351 shares during the last quarter. 62.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Altria Group (NYSE MO) traded down 0.639% during trading on Friday, hitting $63.889. The stock had a trading volume of 6,501,511 shares. The stock has a 50 day moving average price of $70.07 and a 200-day moving average price of $72.56. Altria Group has a one year low of $60.01 and a one year high of $77.79. The stock has a market capitalization of $123.18 billion, a price-to-earnings ratio of 8.425 and a beta of 0.61.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by $0.01. The business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. On average, equities research analysts predict that Altria Group will post $3.26 earnings per share for the current year.
Altria Group announced that its board has authorized a share buyback program on Thursday, July 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 0.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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A number of research firms have recently weighed in on MO. 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. Berenberg Bank set a $72.00 price objective on Altria Group and gave the stock a “hold” rating in a research note on Sunday, August 6th. Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $80.18 target price on the stock in a research note on Tuesday, May 16th. UBS AG cut their price objective on shares of Altria Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, July 31st. Finally, Stifel Nicolaus lowered their target price on Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $72.66.
In related news, Director George Munoz sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total value 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 company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the transaction, 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. Insiders own 0.15% of the company’s stock.
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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