Westpac Banking Corp Has $16.41 Million Position in Altria Group (NYSE:MO)

Westpac Banking Corp increased its stake in Altria Group (NYSE:MO) by 10.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 250,728 shares of the company’s stock after buying an additional 22,796 shares during the period. Westpac Banking Corp’s holdings in Altria Group were worth $16,409,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Acropolis Investment Management LLC increased its stake in shares of Altria Group by 0.3% in the first quarter. Acropolis Investment Management LLC now owns 1,939 shares of the company’s stock valued at $138,000 after buying an additional 5 shares during the last quarter. Mascoma Wealth Management LLC increased its stake in shares of Altria Group by 0.3% in the first quarter. Mascoma Wealth Management LLC now owns 2,701 shares of the company’s stock valued at $193,000 after buying an additional 8 shares during the last quarter. HM Capital Management LLC increased its stake in shares of Altria Group by 0.3% in the first quarter. HM Capital Management LLC now owns 3,435 shares of the company’s stock valued at $245,000 after buying an additional 9 shares during the last quarter. Strategic Financial Group LLC increased its stake in shares of Altria Group by 0.4% in the first quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock valued at $235,000 after buying an additional 14 shares during the last quarter. Finally, Lafayette Investments Inc. increased its stake in Altria Group by 0.7% in the first quarter. Lafayette Investments Inc. now owns 3,863 shares of the company’s stock worth $276,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 62.39% of the company’s stock.

Altria Group (NYSE MO) opened at 63.69 on Friday. The firm has a market cap of $122.79 billion, a P/E ratio of 8.40 and a beta of 0.61. The firm’s 50-day moving average price is $69.77 and its 200-day moving average price is $72.51. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The business had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the prior year, the firm posted $0.81 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts expect that Altria Group will post $3.26 EPS for the current year.

Altria Group announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

TRADEMARK VIOLATION WARNING: “Westpac Banking Corp Has $16.41 Million Position in Altria Group (NYSE:MO)” was posted by BBNS and is the property of of BBNS. If you are reading this story on another domain, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this story can be read at https://baseballnewssource.com/markets/altria-group-nysemo-shares-bought-by-westpac-banking-corp-updated/1408210.html.

A number of equities research analysts have weighed in on MO shares. Vetr upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.89 price target on the stock in a research note on Monday, April 24th. Wells Fargo & Company reiterated an “outperform” rating and set a $80.00 price target on shares of Altria Group in a research note on Monday, July 31st. Zacks Investment Research downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. BidaskClub upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. Finally, Royal Bank Of Canada restated a “sell” rating and issued a $62.00 target price on shares of Altria Group in a research note on Friday, May 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $72.66.

In other Altria Group news, Director George Munoz sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total value of $361,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Martin J. Barrington sold 15,300 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the sale, the chief executive officer now owns 701,074 shares in the company, valued at $45,590,842.22. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

About Altria Group

Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.

Institutional Ownership by Quarter for Altria Group (NYSE:MO)

Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with our FREE daily email newsletter.

 


Latest News

Kris Bryant Back in Spotlight, Cubs Pushing for Playoff Berth
Kris Bryant Back in Spotlight, Cubs Pushing for Playoff Berth
Despite Changes to Reduce The Length of Games, MLB Games are Actually Getting Longer
Despite Changes to Reduce The Length of Games, MLB Games are Actually Getting Longer
Despite Hitting Home Run, Judge Sets Longest Game Streak for Strikeouts
Despite Hitting Home Run, Judge Sets Longest Game Streak for Strikeouts
Los Angeles Dodgers Move 50 Games Over .500
Los Angeles Dodgers Move 50 Games Over .500
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Bryce Harper Latest Star to Suffer Injury
Bryce Harper Latest Star to Suffer Injury


Leave a Reply

 
© 2006-2017 BBNS.