Landscape Capital Management L.L.C. bought a new stake in shares of Altria Group, Inc. (NYSE:MO – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor bought 242,681 shares of the company’s stock, valued at approximately $17,461,000. Altria Group accounts for 1.1% of Landscape Capital Management L.L.C.’s portfolio, making the stock its 5th biggest position.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Illinois Municipal Retirement Fund increased its stake in Altria Group by 7.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 668,243 shares of the company’s stock worth $38,531,000 after purchasing an additional 44,267 shares in the last quarter. Procyon Advisors LLC grew its holdings in shares of Altria Group by 59.3% in the 1st quarter. Procyon Advisors LLC now owns 38,926 shares of the company’s stock valued at $2,569,000 after acquiring an additional 14,490 shares in the last quarter. Rayburn West Financial Services LLC acquired a new position in shares of Altria Group during the 4th quarter worth approximately $2,438,000. North Dakota State Investment Board bought a new stake in Altria Group during the fourth quarter worth $3,336,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Altria Group by 206.7% in the 4th quarter. International Assets Investment Management LLC now owns 75,573 shares of the company’s stock valued at $4,358,000 after purchasing an additional 50,931 shares during the period. 57.41% of the stock is currently owned by institutional investors.
Altria Group Trading Down 0.3%
NYSE:MO opened at $65.87 on Monday. The stock has a market capitalization of $109.99 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46. Altria Group, Inc. has a 12 month low of $54.70 and a 12 month high of $77.06. The firm’s 50 day moving average is $70.20 and its 200 day moving average is $68.86.
Insider Activity
In related news, Director Ennis Debra J. Kelly sold 5,790 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $418,327.50. Following the transaction, the director owned 73,809 shares in the company, valued at $5,332,700.25. The trade was a 7.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ellen R. Strahlman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total transaction of $145,120.00. Following the completion of the sale, the director directly owned 25,102 shares in the company, valued at $1,821,401.12. This represents a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.10% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on MO shares. Deutsche Bank Aktiengesellschaft raised their price target on Altria Group from $60.00 to $66.00 and gave the company a “hold” rating in a report on Monday, May 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $77.00 target price on shares of Altria Group in a research report on Thursday, April 30th. UBS Group lifted their price objective on shares of Altria Group from $76.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Jefferies Financial Group raised their target price on shares of Altria Group from $50.00 to $60.00 and gave the company an “underperform” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a research report on Tuesday, July 14th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $70.11.
View Our Latest Stock Analysis on MO
About Altria Group
Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.
Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.
Featured Articles
- Five stocks we like better than Altria Group
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO – Free Report).
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 MarketBeat.com's FREE daily email newsletter.
