SeaCrest Wealth Management LLC boosted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,105 shares of the company’s stock after purchasing an additional 768 shares during the period. SeaCrest Wealth Management LLC’s holdings in Altria Group were worth $2,382,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of MO. Lipe & Dalton bought a new position in shares of Altria Group in the third quarter valued at approximately $26,000. Baron Financial Group LLC bought a new position in shares of Altria Group in the third quarter valued at approximately $27,000. Financial Avengers Inc. bought a new position in shares of Altria Group in the fourth quarter valued at approximately $29,000. Kathmere Capital Management LLC bought a new position in shares of Altria Group in the third quarter valued at approximately $33,000. Finally, Addison Advisors LLC bought a new position in shares of Altria Group in the fourth quarter valued at approximately $33,000. Institutional investors own 62.18% of the company’s stock.
A number of research firms have recently issued reports on MO. Sanford C. Bernstein began coverage on shares of Altria Group in a research note on Tuesday, January 19th. They issued an “outperform” rating and a $53.00 target price for the company. Royal Bank of Canada reissued a “buy” rating on shares of Altria Group in a report on Sunday, January 31st. TheStreet raised shares of Altria Group from a “c” rating to a “b-” rating in a report on Thursday, January 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Altria Group from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, January 22nd. Finally, Piper Sandler raised their price target on shares of Altria Group from $47.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, December 11th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $50.00.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Wednesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.03). Altria Group had a net margin of 2.84% and a return on equity of 148.93%. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.95 billion. During the same period last year, the firm earned $1.02 EPS. Altria Group’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts forecast that Altria Group, Inc. will post 4.37 earnings per share for the current fiscal year.
Altria Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, January 28th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
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, as well as provides on! oral nicotine pouches.
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