Orleans Capital Management Corp LA reduced its stake in shares of Altria Group Inc (NYSE:MO) by 89.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,377 shares of the company’s stock after selling 37,656 shares during the period. Orleans Capital Management Corp LA’s holdings in Altria Group were worth $278,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in MO. Solaris Asset Management LLC lifted its stake 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 purchasing an additional 557 shares in the last quarter. CKW Financial Group purchased a new position in Altria Group in the 2nd quarter worth approximately $109,000. Balentine LLC lifted its stake in Altria Group by 32.4% in the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after purchasing an additional 357 shares in the last quarter. INR Advisory Services LLC purchased a new position in Altria Group in the 2nd quarter worth approximately $134,000. Finally, Quantum Capital Management LLC NJ acquired a new stake in shares of Altria Group during the 3rd quarter worth approximately $114,000. 62.61% of the stock is currently owned by institutional investors.
In other Altria Group news, CEO Craig A. Johnson sold 14,953 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 64,809 shares of the company’s stock, valued at $4,315,631.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP James E. Dillard III sold 6,500 shares of the stock in a transaction that occurred 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 corporate insiders.
A number of analysts have recently issued reports on the stock. Berenberg Bank restated a “hold” rating on shares of Altria Group in a report on Tuesday, October 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $62.00 price target (down previously from $65.00) on shares of Altria Group in a research note on Monday, February 5th. Vetr upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.45 price target for the company in a research note on Monday, February 5th. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Tuesday, February 6th. Finally, Piper Jaffray Companies lifted their price objective on shares of Altria Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Altria Group presently has an average rating of “Buy” and a consensus price target of $73.66.
Shares of Altria Group Inc (NYSE:MO) traded down $0.22 during trading on Wednesday, hitting $65.42. 2,133,155 shares of the stock were exchanged, compared to its average volume of 7,980,955. Altria Group Inc has a twelve month low of $60.01 and a twelve month high of $77.79. The company has a current ratio of 0.64, a quick ratio of 0.31 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $124,660.00, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 1.90 and a beta of 0.53.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, February 1st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. 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 prior year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. equities analysts forecast that Altria Group Inc will post 4 EPS for the current fiscal year.
Altria Group announced that its board has initiated a stock repurchase program on Thursday, February 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
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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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