Private Wealth Advisors Inc. cut its position in shares of Altria Group Inc (NYSE:MO) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 45,335 shares of the company’s stock after selling 840 shares during the quarter. Private Wealth Advisors Inc.’s holdings in Altria Group were worth $2,575,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. IMA Wealth Inc. bought a new stake in shares of Altria Group during the 2nd quarter worth $106,000. BerganKDV Wealth Management LLC bought a new stake in shares of Altria Group during the 2nd quarter worth $123,000. Smart Portfolios LLC bought a new stake in shares of Altria Group during the 1st quarter worth $129,000. Landaas & Co. WI ADV bought a new stake in shares of Altria Group during the 2nd quarter worth $137,000. Finally, Centerpoint Advisors LLC boosted its stake in shares of Altria Group by 73.7% during the 1st quarter. Centerpoint Advisors LLC now owns 2,355 shares of the company’s stock worth $147,000 after acquiring an additional 999 shares in the last quarter. Institutional investors own 62.92% of the company’s stock.
Several analysts have recently commented on the company. ValuEngine cut Altria Group from a “hold” rating to a “sell” rating in a research report on Monday, April 23rd. Piper Jaffray Companies set a $75.00 target price on Altria Group and gave the stock a “buy” rating in a research report on Monday, April 23rd. Morgan Stanley decreased their target price on Altria Group from $70.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, April 27th. Royal Bank of Canada raised Altria Group from a “sector perform” rating to an “outperform” rating in a research report on Monday, April 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Altria Group from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Altria Group currently has an average rating of “Buy” and an average price target of $71.61.
Shares of Altria Group stock opened at $61.00 on Monday. The firm has a market capitalization of $111.32 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 1.72 and a beta of 0.65. Altria Group Inc has a 12 month low of $53.91 and a 12 month high of $74.38. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.83.
Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, July 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. analysts predict that Altria Group Inc will post 4 earnings per share for the current fiscal year.
Altria Group announced that its board has initiated a share repurchase plan on Thursday, May 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management 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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