Twin Capital Management Inc. trimmed its position in shares of Altria Group Inc (NYSE:MO) by 28.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Country Trust Bank raised its position in shares of Altria Group by 86.9% during the 1st quarter. Country Trust Bank now owns 514 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares in the last quarter. James Investment Research Inc. acquired a new stake in shares of Altria Group during the 1st quarter worth about $43,000. Creative Financial Designs Inc. ADV increased its position in Altria Group by 113.4% during the first quarter. Creative Financial Designs Inc. ADV now owns 783 shares of the company’s stock worth $45,000 after buying an additional 416 shares during the period. Interactive Financial Advisors increased its position in Altria Group by 166.7% during the first quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock worth $46,000 after buying an additional 500 shares during the period. Finally, HMS Capital Management LLC acquired a new position in Altria Group during the second quarter worth approximately $41,000. Institutional investors own 64.25% of the company’s stock.
MO has been the topic of several research analyst reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Altria Group in a research report on Friday, August 9th. Royal Bank of Canada set a $68.00 price target on Altria Group and gave the stock a “buy” rating in a research report on Wednesday, July 31st. ValuEngine lowered Altria Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 29th. Goldman Sachs Group lowered Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price target on the stock. in a research report on Friday, July 12th. Finally, Citigroup set a $45.00 price target on Altria Group and gave the stock a “sell” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Altria Group has a consensus rating of “Hold” and a consensus target price of $60.74.
MO traded down $0.08 during trading on Thursday, reaching $45.79. 2,614,255 shares of the stock were exchanged, compared to its average volume of 7,863,696. The stock’s 50 day moving average price is $48.46. 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 firm 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 Inc has a 1 year low of $42.40 and a 1 year high of $66.04.
Altria Group (NYSE:MO) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.10. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that Altria Group Inc will post 4.17 EPS for the current fiscal year.
Altria Group declared that its board has approved a stock buyback plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 1.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is 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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