Brown Advisory Securities LLC lowered its stake in Altria Group (NYSE:MO) by 1.6% during the first quarter, Holdings Channel reports. The firm owned 25,443 shares of the company’s stock after selling 425 shares during the period. Brown Advisory Securities LLC’s holdings in Altria Group were worth $1,817,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in MO. Park National Corp OH increased its stake in Altria Group by 6.8% in the first quarter. Park National Corp OH now owns 29,973 shares of the company’s stock valued at $2,140,000 after buying an additional 1,906 shares during the period. Wsfs Capital Management LLC purchased a new stake in Altria Group during the fourth quarter valued at about $212,000. Searle & CO. purchased a new stake in Altria Group during the fourth quarter valued at about $2,214,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Altria Group during the fourth quarter valued at about $4,270,000. Finally, Kentucky Retirement Systems purchased a new stake in Altria Group during the fourth quarter valued at about $9,570,000. 62.47% of the stock is currently owned by hedge funds and other institutional investors.
Altria Group (NYSE:MO) traded down 0.054% on Friday, hitting $64.735. 1,635,596 shares of the stock traded hands. The stock has a 50-day moving average of $71.69 and a 200-day moving average of $72.77. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The firm has a market cap of $124.81 billion, a price-to-earnings ratio of 8.537 and a beta of 0.61.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by $0.01. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 earnings per share. Analysts forecast that Altria Group will post $3.26 earnings per share for the current year.
Altria Group announced that its Board of Directors has authorized a share repurchase 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 generally a sign that the company’s board of directors believes its stock is undervalued.
Several research firms recently issued reports on MO. Vetr downgraded shares of Altria Group from a “buy” rating to a “hold” rating and set a $80.38 price target on the stock. in a research note on Monday, June 19th. BidaskClub raised shares of Altria Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Royal Bank Of Canada reissued a “sell” rating and issued a $62.00 target price on shares of Altria Group in a research report on Friday, May 26th. Cowen and Company set a $78.00 target price on shares of Altria Group and gave the stock a “hold” rating in a research report on Friday, July 28th. Finally, Piper Jaffray Companies set a $76.00 target price on shares of Altria Group and gave the stock a “buy” rating in a research report on Thursday, July 27th. One equities research 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 company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $72.66.
In related news, Director George Munoz sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $72.35, for a total value of $361,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.
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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