Cambridge Investment Research Advisors Inc. decreased its position in shares of Altria Group (NYSE:MO) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 399,371 shares of the company’s stock after selling 2,324 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Altria Group were worth $29,741,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Investment Advisors Ltd. raised its stake in Altria Group by 133.3% during the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after acquiring an additional 800 shares in the last quarter. Solaris Asset Management LLC raised its stake in Altria Group by 65.7% during the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after acquiring an additional 557 shares in the last quarter. CKW Financial Group acquired a new position in Altria Group during the second quarter worth about $109,000. Perigon Wealth Management LLC raised its stake in Altria Group by 4.7% during the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock worth $118,000 after acquiring an additional 74 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in Altria Group by 97.4% during the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock worth $121,000 after acquiring an additional 821 shares in the last quarter. 62.29% of the stock is owned by institutional investors and hedge funds.
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Shares of Altria Group (NYSE:MO) opened at $65.26 on Thursday. The firm has a market cap of $125,425.33, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. The company has a current ratio of 0.77, a quick ratio of 0.48 and a debt-to-equity ratio of 1.14. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79.
Altria Group (NYSE:MO) last released its earnings results on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. equities research analysts forecast that Altria Group will post 3.28 earnings per share for the current fiscal year.
Altria Group announced that its board has authorized a share repurchase plan on Thursday, July 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 0.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In other Altria Group news, Director Dinyar S. Devitre sold 32,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total transaction of $1,959,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.
Several brokerages have commented on MO. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.65 target price for the company. in a research note on Monday. Zacks Investment Research downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Edward Jones raised Altria Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 1st. Berenberg Bank reaffirmed a “hold” rating on shares of Altria Group in a research note on Tuesday, October 31st. Finally, Citigroup Inc. lowered their price objective on Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $72.04.
About Altria Group
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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