AT Bancorp raised its position in shares of Altria Group (NYSE:MO) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,545 shares of the company’s stock after buying an additional 29 shares during the period. AT Bancorp’s holdings in Altria Group were worth $753,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of MO. Advantage Investment Management LLC acquired a new position in shares of Altria Group during the fourth quarter worth $116,000. Feltz Wealth PLAN Inc. acquired a new position in shares of Altria Group during the first quarter worth $134,000. Acropolis Investment Management LLC increased 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 worth $138,000 after buying an additional 5 shares in the last quarter. Zions Bancorporation increased 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 worth $164,000 after buying an additional 99 shares in the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased 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 worth $191,000 after buying an additional 1,351 shares during the period. Institutional investors and hedge funds own 62.39% of the company’s stock.
Altria Group (MO) traded down 0.95% during trading on Friday, hitting $63.69. The company had a trading volume of 10,210,604 shares. The stock has a market capitalization of $122.79 billion, a PE ratio of 8.40 and a beta of 0.61. The stock has a 50-day moving average of $69.77 and a 200-day moving average of $72.51. Altria Group has a one year low of $60.01 and a one year high of $77.79.
Altria Group (NYSE:MO) last issued its earnings results 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. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter last year, the business posted $0.81 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts anticipate that Altria Group will post $3.26 EPS for the current year.
Altria Group announced that its Board of Directors has initiated 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
A number of research analysts have commented on MO shares. Vetr upgraded Altria Group from a “hold” rating to a “buy” rating and set a $74.89 target price on the stock in a research note on Monday, April 24th. Wells Fargo & Company restated an “outperform” rating and issued a $80.00 target price on shares of Altria Group in a research note on Monday, July 31st. Zacks Investment Research downgraded Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. BidaskClub upgraded Altria Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. Finally, Royal Bank Of Canada restated a “sell” rating and issued a $62.00 target price on shares of Altria Group in a research note on Friday, May 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Altria Group has a consensus rating of “Hold” and an average price target of $72.66.
In related news, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 701,074 shares in the company, valued at approximately $45,590,842.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George Munoz sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $72.35, for a total transaction of $361,750.00. The disclosure for this sale can be found here. Company 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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