Kavar Capital Partners LLC boosted its stake in Altria Group Inc (NYSE:MO) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,727 shares of the company’s stock after buying an additional 2,951 shares during the period. Altria Group accounts for approximately 1.2% of Kavar Capital Partners LLC’s portfolio, making the stock its 26th largest position. Kavar Capital Partners LLC’s holdings in Altria Group were worth $3,160,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of MO. FMR LLC lifted its holdings in Altria Group by 68.1% in the first quarter. FMR LLC now owns 78,710,352 shares of the company’s stock worth $4,520,337,000 after buying an additional 31,883,878 shares during the period. First Trust Advisors LP increased its stake in shares of Altria Group by 47.3% during the first quarter. First Trust Advisors LP now owns 2,913,878 shares of the company’s stock valued at $167,344,000 after purchasing an additional 935,757 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Altria Group by 5.4% during the first quarter. Janus Henderson Group PLC now owns 18,216,899 shares of the company’s stock valued at $1,046,193,000 after purchasing an additional 926,612 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Altria Group during the second quarter valued at approximately $31,475,000. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of Altria Group by 35.1% during the first quarter. State of New Jersey Common Pension Fund D now owns 2,300,000 shares of the company’s stock valued at $132,089,000 after purchasing an additional 598,000 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.
MO has been the subject of a number of analyst reports. Goldman Sachs Group downgraded shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 target price for the company. in a research note on Friday, July 12th. Royal Bank of Canada set a $68.00 target price on shares of Altria Group and gave the company a “buy” rating in a research note on Wednesday, July 31st. ValuEngine downgraded shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Citigroup set a $45.00 target price on shares of Altria Group and gave the company a “sell” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Altria Group in a research note on Friday, August 9th. 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 stock. Altria Group currently has a consensus rating of “Hold” and an average price target of $60.74.
In other news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of Altria Group stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $52.48, for a total transaction of $104,960.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.11% of the company’s stock.
NYSE:MO traded up $0.05 during trading hours on Thursday, reaching $45.92. The company had a trading volume of 210,892 shares, compared to its average volume of 7,863,696. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.28 and a current ratio of 0.56. Altria Group Inc has a 52 week low of $42.40 and a 52 week high of $66.04. The stock has a market cap of $85.97 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 1.44 and a beta of 0.38. The company’s 50 day simple moving average is $48.46.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.10. The business had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.08 billion. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 EPS. On average, equities research analysts predict that Altria Group Inc will post 4.17 earnings per share for the current year.
Altria Group declared that its Board of Directors has authorized a stock buyback program on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
About Altria Group
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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