Wealth Enhancement Advisory Services LLC increased its position in Altria Group Inc (NYSE:MO) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,867 shares of the company’s stock after purchasing an additional 1,919 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Altria Group were worth $2,459,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes 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 valued at $4,520,337,000 after purchasing an additional 31,883,878 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Altria Group by 2.8% in 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 during the period. Dimensional Fund Advisors LP increased its position in Altria Group by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,006,715 shares of the company’s stock valued at $296,655,000 after buying an additional 93,073 shares in the last quarter. Bank of Montreal Can increased its position in Altria Group by 5.7% during the 1st quarter. Bank of Montreal Can now owns 3,461,145 shares of the company’s stock valued at $198,774,000 after buying an additional 187,719 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Altria Group by 6.1% during the 1st quarter. Rhumbline Advisers now owns 3,058,390 shares of the company’s stock valued at $175,643,000 after buying an additional 176,719 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.
MO has been the subject of a number of analyst reports. Goldman Sachs Group lowered Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price objective for the company. in a research report on Friday, July 12th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Altria Group in a research report on Friday, August 9th. Morgan Stanley reduced their price objective on Altria Group from $48.00 to $44.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Citigroup set a $45.00 price objective on Altria Group and gave the company a “sell” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada set a $68.00 price objective on Altria Group and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $60.74.
Shares of Altria Group stock traded down $0.45 on Thursday, reaching $45.42. The company’s stock had a trading volume of 372,228 shares, compared to its average volume of 7,863,696. The company has a market cap of $85.97 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 1.44 and a beta of 0.38. The company’s fifty day moving average price is $48.46. Altria Group Inc has a 52 week low of $42.40 and a 52 week high of $66.04. The company has a quick ratio of 0.28, a current ratio of 0.56 and a debt-to-equity ratio of 1.87.
Altria Group (NYSE:MO) last posted its earnings results on Tuesday, July 30th. The company reported $1.10 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.10. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. As a group, analysts expect that Altria Group Inc will post 4.17 EPS for the current fiscal year.
Altria Group declared that its board has initiated a share buyback program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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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