Public Employees Retirement Association of Colorado decreased its stake in Altria Group Inc (NYSE:MO) by 78.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 344,474 shares of the company’s stock after selling 1,240,236 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Altria Group were worth $16,311,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Country Trust Bank boosted its holdings in shares of Altria Group by 86.9% in the 1st quarter. Country Trust Bank now owns 514 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares during the period. James Investment Research Inc. bought a new stake in shares of Altria Group during the 1st quarter worth approximately $43,000. Creative Financial Designs Inc. ADV lifted its stake in shares of Altria Group by 113.4% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 783 shares of the company’s stock worth $45,000 after acquiring an additional 416 shares during the last quarter. Interactive Financial Advisors lifted its stake in shares of Altria Group by 166.7% during the 1st quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock worth $46,000 after acquiring an additional 500 shares during the last quarter. Finally, HMS Capital Management LLC bought a new stake in shares of Altria Group during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.
MO has been the subject of a number of research analyst reports. Citigroup set a $45.00 price target on Altria Group and gave the stock a “sell” rating in a research note on Friday, April 26th. Wells Fargo & Co reissued a “buy” rating on shares of Altria Group in a research note on Friday, August 9th. Goldman Sachs Group lowered Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price target for the company. in a research note on Friday, July 12th. Royal Bank of Canada set a $68.00 price target on Altria Group and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley decreased their price target on Altria Group from $48.00 to $44.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Altria Group currently has an average rating of “Hold” and an average price target of $60.74.
Altria Group (NYSE:MO) last issued its earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.10. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. Altria Group’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. On average, equities research analysts anticipate that Altria Group Inc will post 4.17 earnings per share for the current year.
Altria Group declared that its board has approved a stock buyback program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 1.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In other Altria Group news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of Altria Group stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $52.48, for a total transaction of $104,960.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
Featured Article: Green Investing
Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group Inc (NYSE:MO).
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.