Neuberger Berman Group LLC lessened its holdings in shares of Altria Group (NYSE:MO) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 466,514 shares of the company’s stock after selling 8,477 shares during the period. Neuberger Berman Group LLC’s holdings in Altria Group were worth $34,741,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in MO. Albert D Mason Inc. grew its holdings in Altria Group by 1.0% during the first quarter. Albert D Mason Inc. now owns 11,120 shares of the company’s stock worth $794,000 after acquiring an additional 115 shares during the period. WealthTrust Fairport LLC grew its holdings in Altria Group by 0.4% during the first quarter. WealthTrust Fairport LLC now owns 43,174 shares of the company’s stock worth $3,083,000 after acquiring an additional 161 shares during the period. Rhumbline Advisers grew its holdings in Altria Group by 1.4% during the first quarter. Rhumbline Advisers now owns 2,853,312 shares of the company’s stock worth $203,784,000 after acquiring an additional 39,264 shares during the period. Elkhorn Investments LLC acquired a new position in Altria Group during the first quarter worth $1,304,000. Finally, Capital Investment Advisory Services LLC grew its holdings in Altria Group by 1.2% during the first quarter. Capital Investment Advisory Services LLC now owns 14,365 shares of the company’s stock worth $1,026,000 after acquiring an additional 177 shares during the period. 62.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Altria Group (NYSE:MO) opened at $65.84 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The stock has a market capitalization of $124,070.50, a price-to-earnings ratio of 20.58, a PEG ratio of 2.66 and a beta of 0.60.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.03. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the business earned $0.82 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. sell-side analysts anticipate that Altria Group will post 3.28 EPS for the current fiscal year.
Altria Group declared that its board has authorized a stock buyback program on Thursday, July 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 0.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
MO has been the topic of a number of research analyst reports. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.65 target price on the stock. in a research report on Monday. Zacks Investment Research downgraded Altria Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Edward Jones upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 1st. Berenberg Bank reiterated a “hold” rating on shares of Altria Group in a research report on Tuesday, October 31st. Finally, Citigroup Inc. decreased their target price on Altria Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $72.04.
In other news, Director Dinyar S. Devitre sold 32,000 shares of the company’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $61.22, for a total value of $1,959,040.00. The sale was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is owned by corporate insiders.
Altria Group 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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