Reilly Financial Advisors LLC increased its stake in Altria Group (NYSE:MO) by 8.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,548 shares of the company’s stock after buying an additional 2,588 shares during the period. Reilly Financial Advisors LLC’s holdings in Altria Group were worth $2,424,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Putnam Investments LLC increased its stake in shares of Altria Group by 186.6% in the fourth quarter. Putnam Investments LLC now owns 3,473,614 shares of the company’s stock valued at $234,886,000 after buying an additional 2,261,462 shares in the last quarter. Swiss National Bank boosted its stake in Altria Group by 25.1% in the first quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock worth $534,678,000 after buying an additional 1,501,400 shares during the period. Karp Capital Management Corp acquired a new stake in Altria Group during the first quarter worth approximately $104,292,000. Canada Pension Plan Investment Board boosted its stake in Altria Group by 23.8% in the first quarter. Canada Pension Plan Investment Board now owns 3,799,398 shares of the company’s stock worth $271,353,000 after buying an additional 730,600 shares during the period. Finally, State Street Corp boosted its stake in Altria Group by 0.9% in the first quarter. State Street Corp now owns 74,624,722 shares of the company’s stock worth $5,329,771,000 after buying an additional 687,246 shares during the period. 62.39% of the stock is currently owned by institutional investors.
Shares of Altria Group (NYSE MO) opened at 63.69 on Friday. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79. The stock has a market cap of $122.79 billion, a price-to-earnings ratio of 8.40 and a beta of 0.61. The stock’s 50 day moving average is $69.77 and its 200 day moving average is $72.51.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.81 EPS. On average, equities analysts expect that Altria Group will post $3.26 earnings per share for the current fiscal year.
Altria Group announced that its board has initiated a stock buyback program on Thursday, July 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 0.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of research firms have recently commented on MO. UBS AG restated a “hold” rating on shares of Altria Group in a research report on Tuesday, August 8th. Berenberg Bank set a $72.00 target price on Altria Group and gave the company a “hold” rating in a research report on Sunday, August 6th. Zacks Investment Research upgraded Altria Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub upgraded Altria Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $80.00 price objective on shares of Altria Group in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $72.66.
In other news, Director George Munoz sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $72.35, for a total value of $361,750.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total transaction of $994,959.00. Following the completion of the transaction, the chief executive officer now directly owns 701,074 shares in the company, valued at approximately $45,590,842.22. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
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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