Chicago Partners Investment Group LLC raised its position in shares of Altria Group Inc (NYSE:MO) by 90.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,193 shares of the company’s stock after acquiring an additional 2,468 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Altria Group were worth $329,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Solaris Asset Management LLC raised its holdings in Altria Group by 65.7% in the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after acquiring an additional 557 shares during the last quarter. CKW Financial Group purchased a new position in Altria Group in the 2nd quarter worth approximately $109,000. Balentine LLC raised its stake in 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 during the last quarter. NewSquare Capital LLC raised its stake in 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 during the last quarter. Finally, Quantum Capital Management LLC NJ purchased a new stake in Altria Group during the 3rd quarter valued at $114,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Craig A. Johnson sold 14,953 shares of Altria Group stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $66.59, for a total transaction of $995,720.27. Following the completion of the sale, the chief executive officer now directly owns 64,809 shares in the company, valued at $4,315,631.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James E. Dillard III sold 6,500 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $63.13, for a total transaction of $410,345.00. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.
Shares of Altria Group Inc (NYSE MO) traded down $0.23 during trading hours on Wednesday, hitting $65.41. 2,754,159 shares of the stock were exchanged, compared to its average volume of 7,989,206. 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 fifty-two week low of $60.01 and a fifty-two week high of $77.79. The stock has a market capitalization of $124,830.00, a price-to-earnings ratio of 12.28, a PEG ratio of 1.90 and a beta of 0.53.
Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.11. The firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. sell-side analysts expect that Altria Group Inc will post 4 EPS for the current fiscal year.
Altria Group declared that its board has authorized a share repurchase plan on Thursday, February 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
MO has been the subject of several analyst reports. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Tuesday, October 31st. Citigroup dropped their target price on shares of Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, October 30th. Vetr downgraded shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.89 target price for the company. in a report on Monday, October 30th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $76.00 target price on shares of Altria Group in a report on Friday, October 27th. Finally, Edward Jones raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $73.66.
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Altria Group Profile
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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