Means Investment CO. Inc. cut its holdings in shares of Altria Group Inc (NYSE:MO) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,853 shares of the company’s stock after selling 314 shares during the period. Means Investment CO. Inc.’s holdings in Altria Group were worth $2,137,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Farmers Trust Co. grew its stake in Altria Group by 2.3% in the third quarter. Farmers Trust Co. now owns 9,526 shares of the company’s stock worth $390,000 after purchasing an additional 216 shares in the last quarter. Dividend Assets Capital LLC grew its stake in Altria Group by 3.1% in the third quarter. Dividend Assets Capital LLC now owns 7,264 shares of the company’s stock worth $297,000 after purchasing an additional 216 shares in the last quarter. Waters Parkerson & CO. LLC grew its stake in Altria Group by 0.3% in the second quarter. Waters Parkerson & CO. LLC now owns 73,348 shares of the company’s stock worth $3,473,000 after purchasing an additional 225 shares in the last quarter. Outlook Wealth Advisors LLC grew its stake in Altria Group by 2.6% in the second quarter. Outlook Wealth Advisors LLC now owns 9,006 shares of the company’s stock worth $426,000 after purchasing an additional 225 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC grew its stake in Altria Group by 4.4% in the third quarter. YorkBridge Wealth Partners LLC now owns 5,538 shares of the company’s stock worth $227,000 after purchasing an additional 233 shares in the last quarter. Institutional investors own 63.26% of the company’s stock.
A number of equities analysts recently commented on the company. Wells Fargo & Co reiterated a “buy” rating on shares of Altria Group in a research note on Monday, August 26th. ValuEngine cut shares of Altria Group from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Royal Bank of Canada set a $68.00 target price on shares of Altria Group and gave the stock a “buy” rating in a report on Wednesday, July 31st. TheStreet cut shares of Altria Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. Finally, Cowen reissued a “hold” rating on shares of Altria Group in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $54.35.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.04. Altria Group had a net margin of 7.00% and a return on equity of 56.17%. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter last year, the company posted $1.08 earnings per share. Altria Group’s revenue was up 2.3% on a year-over-year basis. As a group, equities analysts predict that Altria Group Inc will post 4.21 EPS for the current year.
Altria Group announced that its board has authorized a share buyback plan on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Altria Group 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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