Teacher Retirement System of Texas trimmed its holdings in shares of Altria Group Inc (NYSE:MO) by 38.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 927,672 shares of the company’s stock after selling 584,853 shares during the period. Teacher Retirement System of Texas’ holdings in Altria Group were worth $43,925,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the business. Country Trust Bank lifted its holdings in shares of Altria Group by 86.9% in the 1st quarter. Country Trust Bank now owns 514 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares in the last quarter. HMS Capital Management LLC bought a new position in shares of Altria Group in the 2nd quarter worth $41,000. James Investment Research Inc. bought a new position in shares of Altria Group in the 1st quarter worth $43,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of Altria Group by 113.4% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 783 shares of the company’s stock worth $45,000 after purchasing an additional 416 shares in the last quarter. Finally, Interactive Financial Advisors lifted its holdings in shares of Altria Group by 166.7% in the 1st quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock worth $46,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 62.72% of the company’s stock.
A number of equities analysts recently issued reports on the company. Royal Bank of Canada set a $68.00 target price on Altria Group and gave the stock a “buy” rating in a report on Wednesday, July 31st. ValuEngine cut Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Morgan Stanley cut their target price on Altria Group from $48.00 to $44.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Citigroup set a $45.00 target price on Altria Group and gave the stock a “sell” rating in a report on Friday, April 26th. Finally, TheStreet cut Altria Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $60.74.
Altria Group (NYSE:MO) last announced its earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.10. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same period last year, the firm posted $1.01 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts expect that Altria Group Inc will post 4.17 EPS for the current year.
Altria Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 1.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
Altria Group Company Profile
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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