Bangor Savings Bank lowered its stake in Altria Group (NYSE:MO) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,351 shares of the company’s stock after selling 40 shares during the period. Bangor Savings Bank’s holdings in Altria Group were worth $954,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Klingman & Associates LLC increased its stake in shares of Altria Group by 8.6% in the first quarter. Klingman & Associates LLC now owns 3,923 shares of the company’s stock valued at $280,000 after buying an additional 309 shares in the last quarter. World Asset Management Inc increased its stake in shares of Altria Group by 20.3% in the first quarter. World Asset Management Inc now owns 205,635 shares of the company’s stock valued at $14,686,000 after buying an additional 34,725 shares in the last quarter. Swiss National Bank increased its stake in shares of Altria Group by 25.1% in the first quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock valued at $534,678,000 after buying an additional 1,501,400 shares in the last quarter. Crawford Investment Counsel Inc. increased its stake in Altria Group by 4.6% in the first quarter. Crawford Investment Counsel Inc. now owns 213,114 shares of the company’s stock worth $15,221,000 after buying an additional 9,341 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Altria Group by 18.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 18,293 shares of the company’s stock worth $1,306,000 after buying an additional 2,901 shares during the period. 62.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Altria Group (NYSE:MO) traded down 0.95% during midday trading on Friday, reaching $63.69. 10,210,604 shares of the company’s stock traded hands. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. The stock has a 50 day moving average of $69.77 and a 200-day moving average of $72.51. The stock has a market cap of $122.79 billion, a P/E ratio of 8.40 and a beta of 0.61.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by $0.01. The firm 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 firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 earnings per share. On average, equities research analysts forecast that Altria Group will post $3.26 EPS for the current fiscal year.
Altria Group announced that its board has authorized a stock repurchase plan on Thursday, July 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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A number of equities research analysts recently weighed in on MO shares. BidaskClub raised Altria Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Royal Bank Of Canada raised Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 target price on the stock in a research report on Monday, July 31st. Cowen and Company set a $78.00 price target on shares of Altria Group and gave the stock a “hold” rating in a research note on Friday, July 28th. Wells Fargo & Company restated an “outperform” rating and set a $80.00 price target on shares of Altria Group in a research note on Monday, July 31st. Finally, Vetr upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.89 price target for the company in a research note on Monday, April 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $72.66.
In other news, Director George Munoz sold 5,000 shares of Altria Group stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total transaction of $361,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the sale, the chief executive officer now owns 701,074 shares of the company’s stock, valued at $45,590,842.22. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.
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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