Korea Investment CORP trimmed its holdings in shares of Altria Group Inc (NYSE:MO) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 936,877 shares of the company’s stock after selling 102,786 shares during the period. Korea Investment CORP’s holdings in Altria Group were worth $56,503,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Johnson Financial Group Inc. raised its holdings in Altria Group by 3.7% during the third quarter. Johnson Financial Group Inc. now owns 127,333 shares of the company’s stock valued at $7,680,000 after acquiring an additional 4,572 shares during the period. Regentatlantic Capital LLC raised its holdings in Altria Group by 15.9% during the third quarter. Regentatlantic Capital LLC now owns 36,272 shares of the company’s stock valued at $2,188,000 after acquiring an additional 4,974 shares during the period. Fort Pitt Capital Group LLC raised its holdings in Altria Group by 11.6% during the third quarter. Fort Pitt Capital Group LLC now owns 20,502 shares of the company’s stock valued at $1,236,000 after acquiring an additional 2,139 shares during the period. Exeter Financial LLC raised its holdings in Altria Group by 8.7% during the second quarter. Exeter Financial LLC now owns 20,414 shares of the company’s stock valued at $1,159,000 after acquiring an additional 1,638 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Altria Group during the second quarter valued at about $20,143,000. Institutional investors and hedge funds own 63.79% of the company’s stock.
Several brokerages have recently issued reports on MO. Argus lifted their target price on Altria Group from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, October 29th. Zacks Investment Research cut Altria Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Citigroup lifted their target price on Altria Group from $59.00 to $67.00 and gave the stock a “hold” rating in a report on Friday, September 21st. ValuEngine upgraded Altria Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Finally, Sanford C. Bernstein assumed coverage on Altria Group in a research report on Tuesday, October 16th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $69.87.
Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 25th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. On average, equities analysts predict that Altria Group Inc will post 3.99 earnings per share for the current fiscal year.
In other news, Director Dinyar S. Devitre sold 3,165 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total value of $184,962.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is owned by corporate insiders.
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About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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