Pettyjohn Wood & White Inc. grew its position in shares of Altria Group Inc (NYSE:MO) by 2.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,726 shares of the company’s stock after purchasing an additional 440 shares during the period. Pettyjohn Wood & White Inc.’s holdings in Altria Group were worth $745,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of MO. Spectrum Management Group Inc. increased its stake in shares of Altria Group by 493.8% in the second quarter. Spectrum Management Group Inc. now owns 3,563 shares of the company’s stock worth $169,000 after buying an additional 2,963 shares during the last quarter. Duff & Phelps Investment Management Co. increased its stake in shares of Altria Group by 2.4% in the second quarter. Duff & Phelps Investment Management Co. now owns 20,460 shares of the company’s stock worth $969,000 after buying an additional 480 shares during the last quarter. Clarius Group LLC increased its stake in shares of Altria Group by 24.3% in the second quarter. Clarius Group LLC now owns 8,795 shares of the company’s stock worth $416,000 after buying an additional 1,717 shares during the last quarter. Employers Holdings Inc. bought a new stake in shares of Altria Group in the second quarter worth $1,681,000. Finally, Comerica Bank increased its stake in shares of Altria Group by 7.7% in the second quarter. Comerica Bank now owns 465,371 shares of the company’s stock worth $23,013,000 after buying an additional 33,442 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.
In other Altria Group news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of Altria Group stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $52.48, for a total value of $104,960.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.
A number of analysts recently issued reports on the stock. Wells Fargo & Co restated a “buy” rating on shares of Altria Group in a research note on Friday, August 9th. Morgan Stanley dropped 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 note on Wednesday, August 7th. Royal Bank of Canada set a $68.00 price target on shares of Altria Group and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Goldman Sachs Group lowered 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 note on Friday, July 12th. Finally, ValuEngine lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $60.74.
Altria Group stock traded up $0.99 during mid-day trading on Friday, reaching $46.48. The company’s stock had a trading volume of 6,923,200 shares, compared to its average volume of 8,049,746. The firm has a market cap of $85.69 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.44 and a beta of 0.38. The business has a 50 day moving average price of $48.38 and a 200-day moving average price of $51.54. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87. Altria Group Inc has a twelve month low of $42.40 and a twelve month high of $66.04.
Altria Group (NYSE:MO) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 EPS for the quarter, hitting analysts’ consensus estimates of $1.10. The firm had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 earnings per share. On average, equities analysts expect that Altria Group Inc will post 4.17 EPS for the current fiscal year.
Altria Group declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 1.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is 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.
Further Reading: Cost of Capital Explained
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