National Asset Management Inc. increased its stake in Altria Group Inc (NYSE:MO) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,849 shares of the company’s stock after acquiring an additional 2,213 shares during the quarter. National Asset Management Inc.’s holdings in Altria Group were worth $3,226,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Altria Group by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,006,715 shares of the company’s stock worth $296,655,000 after buying an additional 93,073 shares in the last quarter. Legacy Advisors LLC increased its stake in shares of Altria Group by 8.7% during the first quarter. Legacy Advisors LLC now owns 8,503 shares of the company’s stock valued at $488,000 after buying an additional 683 shares during the period. Landmark Bank increased its stake in shares of Altria Group by 6.4% during the first quarter. Landmark Bank now owns 6,260 shares of the company’s stock valued at $359,000 after buying an additional 377 shares during the period. We Are One Seven LLC increased its stake in shares of Altria Group by 38.7% during the first quarter. We Are One Seven LLC now owns 27,377 shares of the company’s stock valued at $1,572,000 after buying an additional 7,640 shares during the period. Finally, Burke & Herbert Bank & Trust Co. increased its stake in shares of Altria Group by 3.4% during the first quarter. Burke & Herbert Bank & Trust Co. now owns 22,443 shares of the company’s stock valued at $1,289,000 after buying an additional 736 shares during the period. 62.72% of the stock is currently owned by institutional investors.
MO has been the topic of several research analyst reports. Citigroup set a $45.00 target price on Altria Group and gave the company a “sell” rating in a research note on Friday, April 26th. ValuEngine cut Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Morgan Stanley reduced their target price on Altria Group from $48.00 to $44.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada set a $68.00 target price on Altria Group and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Altria Group in a research note on Friday, August 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $60.74.
MO stock traded down $0.37 during midday trading on Tuesday, hitting $46.33. The stock had a trading volume of 181,925 shares, compared to its average volume of 7,961,507. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.56 and a quick ratio of 0.28. The business has a 50-day moving average of $48.33 and a two-hundred day moving average of $51.46. Altria Group Inc has a 52-week low of $42.40 and a 52-week high of $66.04. The firm has a market cap of $86.83 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 1.46 and a beta of 0.38.
Altria Group (NYSE:MO) last released its earnings results on Tuesday, July 30th. The company reported $1.10 EPS for the quarter, hitting the Thomson Reuters’ 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 the consensus estimate of $5.08 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Research analysts predict that Altria Group Inc will post 4.17 earnings per share for the current year.
Altria Group declared that its Board of Directors has initiated a share repurchase plan on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other Altria Group news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $52.48, for a total value of $104,960.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.11% of the company’s stock.
Altria Group Company 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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