Highwater Wealth Management LLC Takes Position in Altria Group Inc (MO)

Highwater Wealth Management LLC bought a new position in shares of Altria Group Inc (NYSE:MO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,051 shares of the company’s stock, valued at approximately $218,000.

A number of other hedge funds also recently made changes to their positions in the stock. First Manhattan Co. increased its holdings in Altria Group by 1.6% in the 2nd quarter. First Manhattan Co. now owns 803,013 shares of the company’s stock valued at $59,800,000 after buying an additional 12,907 shares during the period. Dock Street Asset Management Inc. bought a new stake in Altria Group in the 2nd quarter valued at $202,000. Garde Capital Inc. increased its holdings in Altria Group by 1.0% in the 2nd quarter. Garde Capital Inc. now owns 4,941 shares of the company’s stock valued at $368,000 after buying an additional 50 shares during the period. Kanawha Capital Management LLC increased its holdings in Altria Group by 1.0% in the 2nd quarter. Kanawha Capital Management LLC now owns 40,992 shares of the company’s stock valued at $3,053,000 after buying an additional 391 shares during the period. Finally, Sei Investments Co. increased its holdings in Altria Group by 23.5% in the 2nd quarter. Sei Investments Co. now owns 802,213 shares of the company’s stock valued at $59,742,000 after buying an additional 152,562 shares during the period. 62.75% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Inc (NYSE MO) opened at $64.03 on Friday. The stock has a market cap of $122,140.00, a PE ratio of 12.06, a P/E/G ratio of 1.95 and a beta of 0.53. The company has a current ratio of 0.64, a quick ratio of 0.31 and a debt-to-equity ratio of 0.85. Altria Group Inc has a 52-week low of $60.01 and a 52-week high of $77.79.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.11. The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. analysts forecast that Altria Group Inc will post 4 earnings per share for the current year.

Altria Group declared that its board has initiated a share repurchase plan on Thursday, February 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

In related news, CEO Craig A. Johnson sold 14,953 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $66.59, for a total transaction of $995,720.27. Following the transaction, the chief executive officer now owns 64,809 shares in the company, valued at approximately $4,315,631.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by corporate insiders.

Several equities research analysts have issued reports on the stock. Berenberg Bank reissued a “hold” rating on shares of Altria Group in a report on Tuesday, October 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $62.00 price target (down previously from $65.00) on shares of Altria Group in a report on Monday, February 5th. Vetr raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.45 price target on the stock in a report on Monday, February 5th. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Tuesday. Finally, Piper Jaffray Companies boosted their price target on shares of Altria Group from $76.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. Altria Group presently has an average rating of “Buy” and an average target price of $73.20.

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

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