Janney Montgomery Scott LLC trimmed its position in Altria Group Inc (NYSE:MO) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 607,225 shares of the company’s stock after selling 23,883 shares during the period. Janney Montgomery Scott LLC’s holdings in Altria Group were worth $36,622,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Comerica Securities Inc. lifted its stake in shares of Altria Group by 5.0% during the third quarter. Comerica Securities Inc. now owns 27,461 shares of the company’s stock worth $1,677,000 after buying an additional 1,314 shares during the period. Holistic Financial Partners acquired a new stake in shares of Altria Group during the third quarter worth $224,000. Flossbach Von Storch AG lifted its stake in shares of Altria Group by 32.3% during the third quarter. Flossbach Von Storch AG now owns 70,100 shares of the company’s stock worth $4,228,000 after buying an additional 17,100 shares during the period. Icon Advisers Inc. Co. lifted its stake in shares of Altria Group by 10.3% during the third quarter. Icon Advisers Inc. Co. now owns 38,700 shares of the company’s stock worth $2,334,000 after buying an additional 3,600 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Altria Group by 246.6% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 430,971 shares of the company’s stock worth $25,992,000 after buying an additional 306,625 shares during the period. Institutional investors own 63.33% of the company’s stock.
In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of Altria Group stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.
Shares of Altria Group stock opened at $63.42 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.60 and a quick ratio of 0.36. Altria Group Inc has a 1 year low of $53.91 and a 1 year high of $74.38. The firm has a market cap of $122.83 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.86 and a beta of 0.40.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 25th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.22 billion. As a group, equities analysts anticipate that Altria Group Inc will post 3.99 earnings per share for the current fiscal year.
Several equities research analysts have recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Altria Group in a research note on Tuesday, October 16th. They set a “market perform” rating for the company. Stifel Nicolaus lowered their price objective on shares of Altria Group from $78.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, July 27th. ValuEngine raised shares of Altria Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 15th. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Tuesday, September 25th. Finally, Bank of America set a $70.00 target price on shares of Altria Group and gave the stock a “buy” rating in a report on Thursday, September 13th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $69.87.
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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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