Mitchell Sinkler & Starr PA maintained its position in shares of Altria Group (NYSE:MO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,544 shares of the company’s stock at the end of the second quarter. Mitchell Sinkler & Starr PA’s holdings in Altria Group were worth $487,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. 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 during the last quarter. 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 during 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 during the last quarter. Strategic Financial Group LLC increased its position in Altria Group by 0.4% in the first quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock valued at $235,000 after buying an additional 14 shares in the last quarter. Finally, Lafayette Investments Inc. increased its position in Altria Group by 0.7% in the first quarter. Lafayette Investments Inc. now owns 3,863 shares of the company’s stock valued at $276,000 after buying an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 62.39% of the company’s stock.
Altria Group (NYSE MO) opened at 63.69 on Friday. The firm has a market capitalization of $122.79 billion, a price-to-earnings ratio of 8.40 and a beta of 0.61. The firm’s 50-day moving average is $69.77 and its 200 day moving average is $72.51. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by $0.01. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts predict that Altria Group will post $3.26 earnings per share for the current year.
Altria Group declared that its board has authorized a stock repurchase program on Thursday, July 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 0.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
MO has been the subject of several research analyst reports. Vetr downgraded shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $80.18 price objective for the company. in a research note on Monday, May 22nd. BidaskClub downgraded shares of Altria Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Piper Jaffray Companies set a $76.00 price objective on shares of Altria Group and gave the company a “buy” rating in a research note on Thursday, July 27th. Stifel Nicolaus decreased their price objective on shares of Altria Group from $77.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, July 31st. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $74.00 target price on shares of Altria Group in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Altria Group 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 business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were 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 can be accessed through this hyperlink. Also, CEO Martin J. Barrington sold 15,300 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction of $994,959.00. Following the completion of the sale, the chief executive officer now owns 701,074 shares in the company, valued at $45,590,842.22. The disclosure for this sale can be found here. 0.15% of the stock is 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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