Sigma Planning Corp boosted its position in Altria Group Inc (NYSE:MO) by 14.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,327 shares of the company’s stock after purchasing an additional 17,955 shares during the period. Sigma Planning Corp’s holdings in Altria Group were worth $6,739,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. FMR LLC lifted its position in shares of Altria Group by 68.1% during the 1st quarter. FMR LLC now owns 78,710,352 shares of the company’s stock valued at $4,520,337,000 after acquiring an additional 31,883,878 shares during the period. First Trust Advisors LP lifted its position in shares of Altria Group by 47.3% during the 1st quarter. First Trust Advisors LP now owns 2,913,878 shares of the company’s stock valued at $167,344,000 after acquiring an additional 935,757 shares during the period. Janus Henderson Group PLC lifted its position in shares of Altria Group by 5.4% during the 1st quarter. Janus Henderson Group PLC now owns 18,216,899 shares of the company’s stock valued at $1,046,193,000 after acquiring an additional 926,612 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Altria Group during the 2nd quarter valued at approximately $31,475,000. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Altria Group by 35.1% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 2,300,000 shares of the company’s stock valued at $132,089,000 after acquiring an additional 598,000 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.
A number of research firms have recently issued reports on MO. 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 report on Wednesday, July 31st. Citigroup set a $45.00 price target on shares of Altria Group and gave the company a “sell” rating in a research report on Friday, April 26th. Morgan Stanley reduced their price target on shares of Altria Group from $48.00 to $44.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Goldman Sachs Group downgraded shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price target for the company. in a research report on Friday, July 12th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Altria Group in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Altria Group has an average rating of “Hold” and a consensus target price of $60.74.
Shares of MO traded down $0.08 during mid-day trading on Thursday, reaching $45.79. 2,614,255 shares of the company’s stock were exchanged, compared to its average volume of 7,863,696. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.28 and a current ratio of 0.56. The stock’s 50-day simple moving average is $48.46. Altria Group Inc has a 52-week low of $42.40 and a 52-week high of $66.04. The company has a market cap of $85.97 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.44 and a beta of 0.38.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.10. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The business had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period last year, the company posted $1.01 EPS. The company’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts predict that Altria Group Inc will post 4.17 EPS for the current fiscal year.
Altria Group announced that its board has approved a stock buyback program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 1.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
In other news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $52.48, for a total transaction of $104,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.
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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