Concorde Asset Management LLC reduced its holdings in Altria Group Inc (NYSE:MO) by 35.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,791 shares of the company’s stock after selling 2,641 shares during the quarter. Concorde Asset Management LLC’s holdings in Altria Group were worth $342,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in MO. Segment Wealth Management LLC raised its holdings in Altria Group by 1.3% in the fourth quarter. Segment Wealth Management LLC now owns 86,965 shares of the company’s stock worth $6,210,000 after purchasing an additional 1,117 shares during the period. Narwhal Capital Management raised its holdings in Altria Group by 17.4% in the fourth quarter. Narwhal Capital Management now owns 75,680 shares of the company’s stock worth $5,404,000 after purchasing an additional 11,220 shares during the period. Beech Hill Advisors Inc. acquired a new stake in Altria Group in the fourth quarter worth $204,000. Culbertson A N & Co. Inc. acquired a new stake in Altria Group in the fourth quarter worth $251,000. Finally, Cornerstone Financial Partners LLC raised its holdings in Altria Group by 93.2% in the fourth quarter. Cornerstone Financial Partners LLC now owns 13,699 shares of the company’s stock worth $980,000 after purchasing an additional 6,608 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.
Several equities research analysts have weighed in on the stock. Berenberg Bank reiterated a “hold” rating on shares of Altria Group in a report on Tuesday, October 31st. Vetr upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.45 price objective on the stock in a report on Monday, February 5th. UBS Group dropped their price objective on shares of Altria Group from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Jefferies Group upgraded shares of Altria Group from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $70.04 to $70.00 in a report on Friday, January 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $62.00 price objective (down from $65.00) on shares of Altria Group in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Altria Group has an average rating of “Buy” and a consensus target price of $73.66.
In related news, CEO Craig A. Johnson sold 14,953 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $66.59, for a total value of $995,720.27. Following the completion of 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 can be accessed through the SEC website. Also, SVP James E. Dillard III sold 6,500 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were 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 currently owned by company insiders.
Shares of Altria Group Inc (NYSE:MO) opened at $65.46 on Monday. 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 company has a market cap of $124,910.00, a price-to-earnings ratio of 12.28, a P/E/G ratio of 1.91 and a beta of 0.53.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the business posted $0.68 earnings per share. analysts predict that Altria Group Inc will post 4 EPS for the current year.
Altria Group declared that its board has authorized a share repurchase plan 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 plans are usually an indication that the company’s management 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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