Nisa Investment Advisors LLC lifted its stake in Altria Group Inc (NYSE:MO) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 642,388 shares of the company’s stock after purchasing an additional 2,380 shares during the period. Nisa Investment Advisors LLC’s holdings in Altria Group were worth $45,873,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Solaris Asset Management LLC lifted its stake in Altria Group by 65.7% in the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after acquiring an additional 557 shares during the period. CKW Financial Group purchased a new stake in Altria Group in the second quarter worth about $109,000. NewSquare Capital LLC lifted its stake in Altria Group by 4,734.7% in the third quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after acquiring an additional 106,530 shares during the period. Balentine LLC lifted its stake in Altria Group by 32.4% in the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after acquiring an additional 357 shares during the period. Finally, Quantum Capital Management LLC NJ purchased a new stake in Altria Group in the third quarter worth about $114,000. Hedge funds and other institutional investors own 62.75% of the company’s stock.
In other Altria Group news, CEO Craig A. Johnson sold 14,953 shares of the 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 completion of the sale, the chief executive officer now directly owns 64,809 shares of the company’s stock, valued at $4,315,631.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.11. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. equities research analysts predict that Altria Group Inc will post 4 EPS for the current year.
Altria Group declared that its Board of Directors has authorized a stock buyback program on Thursday, February 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
A number of analysts recently weighed in on MO shares. Zacks Investment Research lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Vetr raised shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price objective for the company in a research note on Tuesday, October 24th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Altria Group in a research note on Friday, October 27th. UBS Group lowered their price objective on shares of Altria Group from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, October 27th. Finally, Citigroup lowered their price objective on shares of Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $73.20.
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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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