Northpointe Capital LLC trimmed its position in Altria Group Inc (NYSE:MO) by 2.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 56,005 shares of the company’s stock after selling 1,158 shares during the period. Northpointe Capital LLC’s holdings in Altria Group were worth $3,999,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Balentine LLC increased its position in Altria Group by 32.4% during the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after acquiring an additional 357 shares during the period. NewSquare Capital LLC increased its position in Altria Group by 4,734.7% during the third quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after acquiring an additional 106,530 shares during the period. Quantum Capital Management LLC NJ bought a new position in Altria Group during the third quarter worth $114,000. Northwest Investment Counselors LLC increased its position in Altria Group by 557.0% during the third quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock worth $115,000 after acquiring an additional 1,543 shares during the period. Finally, Oak Point Wealth Management bought a new position in Altria Group during the fourth quarter worth $120,000. Institutional investors and hedge funds own 63.01% of the company’s stock.
Shares of Altria Group Inc (NYSE MO) opened at $65.46 on Tuesday. The stock has a market cap of $124,910.11, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.91 and a beta of 0.53. The company has a quick ratio of 0.31, a current ratio of 0.64 and a debt-to-equity ratio of 0.85. Altria Group Inc has a fifty-two week low of $60.01 and a fifty-two week high of $77.79.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.11. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. equities research analysts forecast that Altria Group Inc will post 4 earnings per share for the current fiscal year.
Altria Group announced that its board has authorized a stock buyback program on Thursday, February 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In other news, CEO Craig A. Johnson sold 14,953 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $66.59, for a total value of $995,720.27. Following the sale, the chief executive officer now owns 64,809 shares of the company’s stock, valued at approximately $4,315,631.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP James E. Dillard III sold 6,500 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $63.13, for a total transaction of $410,345.00. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Berenberg Bank reaffirmed a “hold” rating on shares of Altria Group in a research report on Tuesday, October 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $62.00 target price (down previously from $65.00) on shares of Altria Group in a research report on Monday, February 5th. Vetr raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.45 target price on the stock in a research report on Monday, February 5th. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Tuesday, February 6th. Finally, Piper Jaffray Companies boosted their target price on shares of Altria Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Altria Group currently has an average rating of “Buy” and a consensus price target of $73.66.
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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.
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