Davis R M Inc. Boosts Position in Altria Group (NYSE:MO)

Davis R M Inc. boosted its position in Altria Group (NYSE:MO) by 23.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,861 shares of the company’s stock after buying an additional 2,821 shares during the period. Davis R M Inc.’s holdings in Altria Group were worth $1,061,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Advantage Investment Management LLC acquired a new stake in shares of Altria Group during the fourth quarter valued at about $116,000. Feltz Wealth PLAN Inc. acquired a new stake in shares of Altria Group during the first quarter valued at about $134,000. Acropolis Investment Management LLC increased 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. Zions Bancorporation increased its stake in shares of Altria Group by 4.3% in the fourth quarter. Zions Bancorporation now owns 2,428 shares of the company’s stock valued at $164,000 after buying an additional 99 shares during the period. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in shares of 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 valued at $191,000 after buying an additional 1,351 shares during the period. Institutional investors and hedge funds own 62.39% of the company’s stock.

Shares of Altria Group (NYSE:MO) traded down 0.95% on Friday, reaching $63.69. 10,210,604 shares of the company’s stock traded hands. Altria Group has a 52 week low of $60.01 and a 52 week high of $77.79. The company’s 50-day moving average is $69.77 and its 200-day moving average is $72.51. The firm has a market capitalization of $122.79 billion, a P/E ratio of 8.40 and a beta of 0.61.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.81 EPS. Equities research analysts anticipate that Altria Group will post $3.26 earnings per share for the current fiscal year.

Altria Group announced that its Board of Directors has approved a stock buyback plan on Thursday, July 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 0.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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Several brokerages recently issued reports on MO. Berenberg Bank set a $72.00 price objective on shares of Altria Group and gave the company a “hold” rating in a research note on Sunday, August 6th. BidaskClub raised shares of Altria Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Vetr raised shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $79.51 price target on the stock in a research note on Monday, July 31st. UBS AG cut their price target on shares of Altria Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, July 31st. Finally, Stifel Nicolaus cut their price target on shares of Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $72.66.

In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value of $994,959.00. Following the sale, the chief executive officer now owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George Munoz sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were 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. 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.

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

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