New Capital Management LP continued to hold its position in shares of Altria Group (NYSE:MO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,061 shares of the company’s stock at the end of the second quarter. New Capital Management LP’s holdings in Altria Group were worth $147,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in MO. Sterling Investment Advisors Ltd. boosted its position in Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after buying an additional 800 shares during the last quarter. Perigon Wealth Management LLC boosted its position in Altria Group by 4.7% in the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after buying an additional 74 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Altria Group by 97.4% in the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after buying an additional 821 shares during the last quarter. Advantage Investment Management LLC acquired a new position in Altria Group during the fourth quarter valued at about $116,000. Finally, Feltz Wealth PLAN Inc. acquired a new position in Altria Group during the first quarter valued at about $134,000. 62.39% of the stock is currently owned by institutional investors.
Shares of Altria Group (NYSE MO) traded down 0.95% during mid-day trading on Friday, hitting $63.69. The company’s stock had a trading volume of 10,210,604 shares. The company has a 50-day moving average of $69.77 and a 200 day moving average of $72.51. The company has a market cap of $122.79 billion, a price-to-earnings ratio of 8.40 and a beta of 0.61. Altria Group has a 1-year low of $60.01 and a 1-year 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 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 period in the prior year, the firm posted $0.81 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. On average, analysts expect that Altria Group will post $3.26 EPS for the current year.
Altria Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
MO has been the subject of several research analyst reports. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $80.18 price objective for the company. in a report on Monday, May 22nd. BidaskClub lowered Altria Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Piper Jaffray Companies set a $76.00 price objective on Altria Group and gave the company a “buy” rating in a report on Thursday, July 27th. Stifel Nicolaus reduced their target price on Altria Group from $77.00 to $72.00 and set a “buy” rating for the company in a report on Monday, July 31st. Finally, Cowen and Company reaffirmed a “hold” rating and set a $74.00 target price on shares of Altria Group in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $72.66.
In other news, Director George Munoz sold 5,000 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Martin J. Barrington sold 15,300 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $65.03, for a total transaction of $994,959.00. Following the transaction, the chief executive officer now directly owns 701,074 shares of the company’s stock, valued at $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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