McIlrath & Eck LLC increased its stake in Altria Group Inc (NYSE:MO) by 144.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,524 shares of the company’s stock after buying an additional 900 shares during the quarter. McIlrath & Eck LLC’s holdings in Altria Group were worth $62,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Altria Group by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 147,103,311 shares of the company’s stock valued at $6,965,342,000 after purchasing an additional 525,023 shares in the last quarter. Janus Henderson Group PLC grew its stake in Altria Group by 2.8% during the 2nd quarter. Janus Henderson Group PLC now owns 18,731,425 shares of the company’s stock valued at $886,937,000 after purchasing an additional 514,526 shares in the last quarter. Invesco Ltd. grew its stake in Altria Group by 5.3% during the 2nd quarter. Invesco Ltd. now owns 16,374,473 shares of the company’s stock valued at $775,331,000 after purchasing an additional 817,834 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Altria Group by 4.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,453,582 shares of the company’s stock valued at $684,378,000 after purchasing an additional 552,118 shares in the last quarter. Finally, Morgan Stanley grew its stake in Altria Group by 11.0% during the 2nd quarter. Morgan Stanley now owns 8,811,852 shares of the company’s stock valued at $417,241,000 after purchasing an additional 870,944 shares in the last quarter. Institutional investors and hedge funds own 63.27% of the company’s stock.
NYSE:MO traded up $0.43 during trading hours on Friday, reaching $46.41. 5,522,956 shares of the stock were exchanged, compared to its average volume of 10,315,709. The company has a quick ratio of 0.27, a current ratio of 0.56 and a debt-to-equity ratio of 2.53. The firm has a 50 day simple moving average of $43.42 and a 200-day simple moving average of $47.52. Altria Group Inc has a 52 week low of $39.30 and a 52 week high of $66.04. The stock has a market capitalization of $86.40 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.72 and a beta of 0.41.
Altria Group (NYSE:MO) last released its earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Altria Group had a return on equity of 56.17% and a net margin of 7.00%. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same quarter last year, the business posted $1.08 EPS. Altria Group’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts expect that Altria Group Inc will post 4.21 earnings per share for the current year.
Altria Group declared that its board has approved a share repurchase program on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 1.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have weighed in on the company. Piper Jaffray Companies set a $49.00 price objective on Altria Group and gave the company a “hold” rating in a research note on Monday, September 30th. Stifel Nicolaus restated a “buy” rating on shares of Altria Group in a research note on Tuesday, October 15th. Wells Fargo & Co restated a “buy” rating on shares of Altria Group in a research note on Monday, August 26th. Royal Bank of Canada set a $68.00 price objective on Altria Group and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, TheStreet lowered Altria Group from a “b-” rating to a “c+” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Altria Group currently has an average rating of “Hold” and a consensus price target of $54.35.
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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