Prospera Financial Services Inc Reduces Stake in Altria Group (NYSE:MO)

Prospera Financial Services Inc decreased its position in shares of Altria Group (NYSE:MO) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,553 shares of the company’s stock after selling 4,325 shares during the period. Altria Group accounts for about 1.0% of Prospera Financial Services Inc’s investment portfolio, making the stock its 12th largest position. Prospera Financial Services Inc’s holdings in Altria Group were worth $5,998,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in MO. Pacific Center for Financial Services acquired a new stake in Altria Group during the fourth quarter worth approximately $285,000. Advantage Investment Management LLC purchased a new stake in Altria Group during the fourth quarter valued at about $116,000. Comprehensive Portfolio Management LLC purchased a new stake in Altria Group during the fourth quarter valued at about $568,000. Wills Financial Group Inc. boosted its stake in Altria Group by 8.4% in the fourth quarter. Wills Financial Group Inc. now owns 13,700 shares of the company’s stock valued at $926,000 after buying an additional 1,062 shares during the last quarter. Finally, PagnatoKarp Partners LLC purchased a new stake in Altria Group during the fourth quarter valued at about $544,000. Institutional investors and hedge funds own 62.39% of the company’s stock.

Altria Group (NYSE:MO) opened at 63.69 on Friday. The firm has a market cap of $122.79 billion, a P/E ratio of 8.40 and a beta of 0.61. The company’s 50 day moving average is $69.77 and its 200-day moving average is $72.51. Altria Group has a 52 week low of $60.01 and a 52 week high of $77.79.

Altria Group (NYSE:MO) last released its quarterly 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 return on equity of 59.50% and a net margin of 56.98%. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period last year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Equities analysts expect that Altria Group will post $3.26 earnings per share for the current year.

Altria Group announced that its Board of Directors has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Several equities research analysts recently issued reports on the company. Vetr cut Altria Group from a “buy” rating to a “hold” rating and set a $80.38 price objective on the stock. in a report on Monday, June 19th. BidaskClub raised shares of Altria Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. Royal Bank Of Canada reissued a “sell” rating and issued a $62.00 target price on shares of Altria Group in a research note on Friday, May 26th. Cowen and Company set a $78.00 target price on shares of Altria Group and gave the stock a “hold” rating in a research note on Friday, July 28th. Finally, Piper Jaffray Companies set a $76.00 target price on shares of Altria Group and gave the stock a “buy” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $72.66.

In related news, Director George Munoz sold 5,000 shares of Altria Group stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $72.35, for a total value of $361,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Martin J. Barrington sold 15,300 shares of Altria Group 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 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. 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.