Pendal Group Ltd cut its holdings in shares of Altria Group Inc (NYSE:MO) by 8.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,740 shares of the company’s stock after selling 14,656 shares during the quarter. Pendal Group Ltd’s holdings in Altria Group were worth $7,895,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Fishman Jay A Ltd. MI raised its position in shares of Altria Group by 2.1% in the fourth quarter. Fishman Jay A Ltd. MI now owns 38,300 shares of the company’s stock valued at $1,892,000 after purchasing an additional 770 shares during the period. Dimensional Fund Advisors LP raised its holdings in Altria Group by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,006,715 shares of the company’s stock worth $296,655,000 after purchasing an additional 93,073 shares in the last quarter. Geode Capital Management LLC raised its holdings in Altria Group by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 24,928,440 shares of the company’s stock worth $1,229,235,000 after purchasing an additional 1,908,626 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Altria Group by 9.1% in the 4th quarter. American Century Companies Inc. now owns 3,535,176 shares of the company’s stock worth $174,602,000 after acquiring an additional 294,006 shares in the last quarter. Finally, Jackson Hole Capital Partners LLC bought a new position in shares of Altria Group in the 4th quarter worth about $559,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE MO traded up $0.85 during midday trading on Tuesday, hitting $46.83. 326,390 shares of the company’s stock were exchanged, compared to its average volume of 7,867,879. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.28 and a current ratio of 0.56. Altria Group Inc has a twelve month low of $42.40 and a twelve month high of $66.04. The company has a market cap of $86.23 billion, a P/E ratio of 11.72, a PEG ratio of 1.45 and a beta of 0.38. The firm has a fifty day simple moving average of $48.55.
Altria Group (NYSE:MO) last issued its earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, hitting the consensus estimate of $1.10. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. The business had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same quarter last year, the company earned $1.01 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts anticipate that Altria Group Inc will post 4.17 EPS for the current fiscal year.
Altria Group announced that its board has approved a share buyback program on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 1.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Several analysts recently commented on the stock. Royal Bank of Canada set a $68.00 price objective on shares of Altria Group and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Co reissued a “buy” rating on shares of Altria Group in a report on Friday. Citigroup set a $45.00 price objective on shares of Altria Group and gave the stock a “sell” rating in a report on Friday, April 26th. Goldman Sachs Group cut shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 target price on the stock. in a research note on Friday, July 12th. Finally, ValuEngine cut shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 29th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $60.74.
In other Altria Group news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of Altria Group stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $52.48, for a total transaction of $104,960.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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