Twin Capital Management Inc. lessened its stake in shares of Altria Group Inc (NYSE:MO) by 28.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,498 shares of the company’s stock after selling 49,012 shares during the quarter. Twin Capital Management Inc.’s holdings in Altria Group were worth $5,895,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Altria Group by 68.1% in the 1st quarter. FMR LLC now owns 78,710,352 shares of the company’s stock worth $4,520,337,000 after purchasing an additional 31,883,878 shares during the period. First Trust Advisors LP raised its stake in Altria Group by 47.3% during the 1st quarter. First Trust Advisors LP now owns 2,913,878 shares of the company’s stock worth $167,344,000 after acquiring an additional 935,757 shares during the period. Janus Henderson Group PLC raised its stake in Altria Group by 5.4% during the 1st quarter. Janus Henderson Group PLC now owns 18,216,899 shares of the company’s stock worth $1,046,193,000 after acquiring an additional 926,612 shares during the period. Wedge Capital Management L L P NC bought a new stake in Altria Group during the 2nd quarter worth approximately $31,475,000. Finally, State of New Jersey Common Pension Fund D raised its stake in Altria Group by 35.1% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 2,300,000 shares of the company’s stock worth $132,089,000 after acquiring an additional 598,000 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the stock. Citigroup set a $45.00 price objective on shares of Altria Group and gave the company a “sell” rating in a research 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 price objective on the stock. in a research report on Friday, July 12th. Wells Fargo & Co reiterated a “buy” rating on shares of Altria Group in a research report on Friday, August 9th. Morgan Stanley reduced their price objective on shares of Altria Group from $48.00 to $44.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Finally, ValuEngine cut shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 29th. Three research 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’s stock. Altria Group presently has a consensus rating of “Hold” and a consensus target price of $60.74.
Shares of MO stock traded down $0.08 on Thursday, reaching $45.79. The company’s stock had a trading volume of 2,614,255 shares, compared to its average volume of 7,863,696. The stock’s fifty day simple moving average is $48.46. Altria Group Inc has a 1 year low of $42.40 and a 1 year high of $66.04. 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 stock has a market capitalization of $85.97 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.44 and a beta of 0.38.
Altria Group (NYSE:MO) last posted its earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.10. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same period last year, the firm posted $1.01 earnings per share. Altria Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, research analysts expect that Altria Group Inc will post 4.17 earnings per share for the current year.
Altria Group announced that its Board of Directors has approved a share buyback plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 1.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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