Fernwood Investment Management LLC raised its holdings in Altria Group Inc (NYSE:MO) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,244 shares of the company’s stock after acquiring an additional 3,456 shares during the period. Altria Group makes up 2.7% of Fernwood Investment Management LLC’s investment portfolio, making the stock its 4th largest position. Fernwood Investment Management LLC’s holdings in Altria Group were worth $4,391,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in MO. Solaris Asset Management LLC raised its holdings in shares of Altria Group by 65.7% during the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after buying an additional 557 shares in the last quarter. CKW Financial Group purchased a new position in shares of Altria Group during the 2nd quarter valued at about $109,000. Balentine LLC raised its holdings in shares of Altria Group by 32.4% during the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after buying an additional 357 shares in the last quarter. NewSquare Capital LLC raised its holdings in shares of Altria Group by 4,734.7% during the 3rd quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock valued at $109,000 after buying an additional 106,530 shares in the last quarter. Finally, Quantum Capital Management LLC NJ purchased a new position in shares of Altria Group during the 3rd quarter valued at about $114,000. 62.61% of the stock is currently owned by hedge funds and other institutional investors.
MO has been the topic of several recent research reports. Jefferies Group set a $72.00 price target on Altria Group and gave the stock a “hold” rating in a research report on Friday, November 17th. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.65 price target on the stock. in a research report on Monday, November 13th. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Tuesday, February 6th. Piper Jaffray Companies raised their price target on Altria Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Finally, Edward Jones upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $73.66.
In other Altria Group news, CEO Craig A. Johnson sold 14,953 shares of Altria Group stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $66.59, for a total transaction of $995,720.27. Following the completion of the transaction, the chief executive officer now owns 64,809 shares in the company, valued at $4,315,631.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James E. Dillard III sold 6,500 shares of Altria Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $63.13, for a total value of $410,345.00. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
Shares of Altria Group Inc (NYSE MO) traded down $0.46 during mid-day trading on Wednesday, hitting $65.18. The stock had a trading volume of 5,532,502 shares, compared to its average volume of 8,230,000. The company has a current ratio of 0.64, a quick ratio of 0.31 and a debt-to-equity ratio of 0.85. Altria Group Inc has a 12-month low of $60.01 and a 12-month high of $77.79. The company has a market cap of $124,380.00, a price-to-earnings ratio of 12.23, a P/E/G ratio of 1.90 and a beta of 0.53.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.11. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the company posted $0.68 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. research analysts forecast that Altria Group Inc will post 4 EPS for the current fiscal year.
Altria Group declared that its Board of Directors has initiated a share buyback plan on Thursday, February 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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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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