Quilter Investors LTD cut its holdings in Altria Group Inc (NYSE:MO) by 52.6% during the second quarter, Holdings Channel reports. The institutional investor owned 101,003 shares of the company’s stock after selling 112,238 shares during the quarter. Altria Group comprises 4.6% of Quilter Investors LTD’s investment portfolio, making the stock its 8th biggest holding. Quilter Investors LTD’s holdings in Altria Group were worth $4,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also bought and sold shares of the company. FMR LLC raised its holdings in Altria Group by 68.1% during the first quarter. FMR LLC now owns 78,710,352 shares of the company’s stock worth $4,520,337,000 after purchasing an additional 31,883,878 shares during the last quarter. First Trust Advisors LP raised its position in Altria Group by 47.3% in the 1st quarter. First Trust Advisors LP now owns 2,913,878 shares of the company’s stock worth $167,344,000 after purchasing an additional 935,757 shares during the last quarter. Janus Henderson Group PLC raised its position in Altria Group by 5.4% in the 1st quarter. Janus Henderson Group PLC now owns 18,216,899 shares of the company’s stock worth $1,046,193,000 after purchasing an additional 926,612 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Altria Group in the 2nd quarter worth approximately $31,475,000. Finally, State of New Jersey Common Pension Fund D raised its position in Altria Group by 35.1% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 2,300,000 shares of the company’s stock worth $132,089,000 after purchasing an additional 598,000 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.
A number of research firms have commented on MO. Wells Fargo & Co reaffirmed a “buy” rating on shares of Altria Group in a report on Friday, August 9th. Citigroup set a $45.00 price target on shares of Altria Group and gave the company a “sell” rating in a report on Friday, April 26th. ValuEngine lowered shares of Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Morgan Stanley decreased their price target on shares of Altria Group from $48.00 to $44.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Finally, Goldman Sachs Group lowered shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price target for the company. in a report on Friday, July 12th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Altria Group has an average rating of “Hold” and a consensus target price of $60.74.
Shares of MO stock traded up $0.99 on Friday, hitting $46.48. The stock had a trading volume of 6,923,200 shares, compared to its average volume of 7,875,297. Altria Group Inc has a twelve month low of $42.40 and a twelve month high of $66.04. The firm has a market cap of $84.98 billion, a P/E ratio of 11.65, a PEG ratio of 1.42 and a beta of 0.38. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87. The company has a fifty day moving average price of $48.38 and a two-hundred day moving average price of $51.54.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 EPS for the quarter, meeting the consensus estimate of $1.10. The business had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.08 billion. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. On average, analysts expect that Altria Group Inc will post 4.17 earnings per share for the current year.
Altria Group announced that its board has approved a stock repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
About Altria Group
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.
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