Court Place Advisors LLC Sells 150 Shares of Altria Group (MO)

Court Place Advisors LLC lowered its stake in shares of Altria Group (NYSE:MO) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,889 shares of the company’s stock after selling 150 shares during the period. Court Place Advisors LLC’s holdings in Altria Group were worth $439,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Acropolis Investment Management LLC raised its stake in shares of Altria Group by 0.3% in the first quarter. Acropolis Investment Management LLC now owns 1,939 shares of the company’s stock valued at $138,000 after buying an additional 5 shares during the period. Mascoma Wealth Management LLC raised its stake in shares of Altria Group by 0.3% in the first quarter. Mascoma Wealth Management LLC now owns 2,701 shares of the company’s stock valued at $193,000 after buying an additional 8 shares during the period. HM Capital Management LLC raised its stake in shares of Altria Group by 0.3% in the first quarter. HM Capital Management LLC now owns 3,435 shares of the company’s stock valued at $245,000 after buying an additional 9 shares during the period. Baystate Wealth Management LLC raised its stake in shares of Altria Group by 0.3% in the second quarter. Baystate Wealth Management LLC now owns 3,675 shares of the company’s stock valued at $270,000 after buying an additional 10 shares during the period. Finally, Strategic Financial Group LLC raised its stake in shares of Altria Group by 0.4% in the first quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock valued at $235,000 after buying an additional 14 shares during the period. Institutional investors and hedge funds own 62.39% of the company’s stock.

Shares of Altria Group (MO) traded down 0.47% during trading on Friday, reaching $64.00. 3,408,012 shares of the company traded hands. The company has a 50-day moving average of $70.07 and a 200-day moving average of $72.56. The stock has a market capitalization of $123.39 billion, a PE ratio of 8.44 and a beta of 0.61. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by $0.01. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 earnings per share. Analysts forecast that Altria Group will post $3.26 earnings per share for the current fiscal year.

Altria Group announced that its Board of Directors has initiated a share repurchase program on Thursday, July 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 0.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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Several brokerages have recently weighed in on MO. BidaskClub lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Cowen and Company reiterated a “hold” rating and set a $74.00 target price on shares of Altria Group in a research report on Tuesday, July 11th. Zacks Investment Research lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Piper Jaffray Companies began coverage on shares of Altria Group in a research report on Wednesday, May 24th. They set an “overweight” rating and a $76.00 target price on the stock. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $70.00 target price (down from $71.00) on shares of Altria Group in a research report on Monday, July 17th. 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 given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $72.66.

In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $65.03, for a total transaction of $994,959.00. Following the sale, the chief executive officer now directly owns 701,074 shares in the company, valued at $45,590,842.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George Munoz sold 5,000 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total transaction of $361,750.00. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

Altria Group Company Profile

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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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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