US Bancorp DE cut its position in Altria Group (NYSE:MO) by 0.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,503,210 shares of the company’s stock after selling 9,898 shares during the period. US Bancorp DE owned about 0.08% of Altria Group worth $107,360,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Advantage Investment Management LLC acquired a new position in Altria Group during the fourth quarter worth approximately $116,000. Feltz Wealth PLAN Inc. acquired a new position in Altria Group during the first quarter worth approximately $134,000. Acropolis Investment Management LLC boosted its position in Altria Group by 0.3% in the first quarter. Acropolis Investment Management LLC now owns 1,939 shares of the company’s stock worth $138,000 after buying an additional 5 shares in the last quarter. Zions Bancorporation boosted its position in Altria Group by 4.3% in the fourth quarter. Zions Bancorporation now owns 2,428 shares of the company’s stock worth $164,000 after buying an additional 99 shares in the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Altria Group by 102.5% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,669 shares of the company’s stock worth $191,000 after buying an additional 1,351 shares in the last quarter. 62.47% of the stock is currently owned by institutional investors.
Altria Group (MO) opened at 64.31 on Friday. The stock’s 50 day moving average price is $71.34 and its 200 day moving average price is $72.73. The company has a market cap of $123.99 billion, a P/E ratio of 8.48 and a beta of 0.61. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing the Zacks’ 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 company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the previous year, the business posted $0.81 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Analysts expect that Altria Group will post $3.26 earnings per share for the current year.
Altria Group announced that its board has approved a share buyback plan on Thursday, July 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 0.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
A number of research firms recently commented on MO. Cowen and Company set a $78.00 price target on Altria Group and gave the stock a “hold” rating in a report on Friday, July 28th. Berenberg Bank set a $72.00 price objective on Altria Group and gave the stock a “hold” rating in a report on Sunday, August 6th. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $80.18 price objective on the stock in a report on Tuesday, May 16th. UBS AG decreased their price objective on Altria Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, July 31st. Finally, Stifel Nicolaus decreased their price objective on Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $72.66.
In related news, Director George Munoz sold 5,000 shares of Altria Group stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total transaction of $361,750.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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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