Parkside Financial Bank & Trust Lowers Stock Position in Altria Group Inc (NYSE:MO)

Parkside Financial Bank & Trust lessened its holdings in Altria Group Inc (NYSE:MO) by 9.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,947 shares of the company’s stock after selling 980 shares during the period. Parkside Financial Bank & Trust’s holdings in Altria Group were worth $406,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Julex Capital Management LLC bought a new position in shares of Altria Group during the 3rd quarter worth approximately $25,000. Vigilant Capital Management LLC increased its stake in Altria Group by 140.3% during the 3rd quarter. Vigilant Capital Management LLC now owns 704 shares of the company’s stock valued at $29,000 after purchasing an additional 411 shares in the last quarter. KCS Wealth Advisory acquired a new position in Altria Group during the 3rd quarter valued at approximately $40,000. HMS Capital Management LLC acquired a new position in Altria Group during the 2nd quarter valued at approximately $41,000. Finally, Salomon & Ludwin LLC increased its stake in Altria Group by 189.0% during the 2nd quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock valued at $41,000 after purchasing an additional 567 shares in the last quarter. 63.27% of the stock is owned by hedge funds and other institutional investors.

MO has been the topic of a number of recent analyst reports. ValuEngine lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Royal Bank of Canada set a $68.00 price target on shares of Altria Group and gave the company a “buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus restated a “buy” rating on shares of Altria Group in a research note on Tuesday, October 15th. Bank of America set a $54.00 price target on shares of Altria Group and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Co restated a “buy” rating on shares of Altria Group in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Altria Group presently has an average rating of “Hold” and an average price target of $54.35.

Shares of NYSE:MO traded up $0.43 during midday trading on Friday, reaching $46.41. The company’s stock had a trading volume of 5,522,956 shares, compared to its average volume of 10,315,709. The firm has a market capitalization of $86.40 billion, a PE ratio of 11.63, a P/E/G ratio of 1.72 and a beta of 0.41. Altria Group Inc has a twelve month low of $39.30 and a twelve month high of $66.04. The stock has a fifty day moving average of $43.42 and a 200 day moving average of $47.52. The company has a quick ratio of 0.27, a current ratio of 0.56 and a debt-to-equity ratio of 2.53.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.04. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.34 billion. Altria Group had a net margin of 7.00% and a return on equity of 56.17%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 earnings per share. Sell-side analysts anticipate that Altria Group Inc will post 4.21 earnings per share for the current fiscal year.

Altria Group announced that its board has authorized a share buyback program on Tuesday, July 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are 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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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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