Coastline Trust Co held its position in shares of Altria Group (NYSE:MO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,377 shares of the company’s stock at the end of the 2nd quarter. Coastline Trust Co’s holdings in Altria Group were worth $624,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Karp Capital Management Corp bought a new position in Altria Group in the first quarter valued at about $104,292,000. Prudential Financial Inc. lifted its holdings in Altria Group by 26.6% in the second quarter. Prudential Financial Inc. now owns 4,957,386 shares of the company’s stock valued at $369,177,000 after acquiring an additional 1,040,250 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Altria Group by 20.7% in the second quarter. Canada Pension Plan Investment Board now owns 4,586,398 shares of the company’s stock valued at $341,549,000 after acquiring an additional 787,000 shares during the period. Swiss National Bank lifted its holdings in Altria Group by 9.8% in the second quarter. Swiss National Bank now owns 8,222,194 shares of the company’s stock valued at $612,307,000 after acquiring an additional 735,800 shares during the period. Finally, State Street Corp lifted its holdings in Altria Group by 0.9% in the first quarter. State Street Corp now owns 74,624,722 shares of the company’s stock valued at $5,329,771,000 after acquiring an additional 687,246 shares during the period. 62.69% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on the company. Berenberg Bank reissued a “hold” rating on shares of Altria Group in a report on Tuesday, October 31st. UBS decreased their price objective on Altria Group from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, October 27th. Cowen reaffirmed a “hold” rating on shares of Altria Group in a research note on Sunday, September 10th. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price objective on the stock in a research note on Tuesday, October 24th. Finally, Citigroup decreased their price objective on Altria Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $72.90.
Altria Group (NYSE:MO) traded up $0.75 during midday trading on Friday, hitting $68.58. The stock had a trading volume of 8,049,532 shares, compared to its average volume of 5,933,775. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. Altria Group has a 1 year low of $60.01 and a 1 year high of $77.79. The company has a market capitalization of $130,863.67, a P/E ratio of 21.70, a P/E/G ratio of 2.80 and a beta of 0.62.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. analysts forecast that Altria Group will post 3.28 EPS for the current fiscal year.
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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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