Taylor Hoffman Wealth Management Buys 5,519 Shares of Altria Group Inc (NYSE:MO)

Taylor Hoffman Wealth Management boosted its stake in Altria Group Inc (NYSE:MO) by 12.5% in the third quarter, HoldingsChannel reports. The firm owned 49,683 shares of the company’s stock after acquiring an additional 5,519 shares during the period. Altria Group accounts for about 1.4% of Taylor Hoffman Wealth Management’s holdings, making the stock its 17th biggest position. Taylor Hoffman Wealth Management’s holdings in Altria Group were worth $2,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MO. Julex Capital Management LLC acquired a new stake in shares of Altria Group during the 3rd quarter valued at $25,000. Vigilant Capital Management LLC boosted its holdings in shares of Altria Group by 140.3% during the third quarter. Vigilant Capital Management LLC now owns 704 shares of the company’s stock worth $29,000 after purchasing an additional 411 shares during the period. KCS Wealth Advisory purchased a new stake in shares of Altria Group during the third quarter worth about $40,000. HMS Capital Management LLC purchased a new stake in shares of Altria Group during the second quarter worth about $41,000. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Altria Group by 189.0% during the second quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock worth $41,000 after purchasing an additional 567 shares during the period. Institutional investors and hedge funds own 63.27% of the company’s stock.

MO traded up $0.43 on Friday, hitting $46.41. The company had a trading volume of 5,522,956 shares, compared to its average volume of 10,315,709. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.56 and a quick ratio of 0.27. Altria Group Inc has a 52-week low of $39.30 and a 52-week high of $66.04. The stock has a fifty day simple moving average of $43.42 and a 200-day simple moving average of $47.52. The firm has a market capitalization of $86.40 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.72 and a beta of 0.41.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.04. Altria Group had a net margin of 7.00% and a return on equity of 56.17%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same period last year, the business posted $1.08 earnings per share. Altria Group’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts expect that Altria Group Inc will post 4.21 earnings per share for the current fiscal year.

Altria Group announced that its Board of Directors 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

A number of analysts have recently weighed in on the stock. Barclays set a $50.00 target price on shares of Altria Group and gave the stock a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada set a $68.00 target price on shares of Altria Group and gave the stock a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley set a $44.00 target price on shares of Altria Group and gave the stock a “hold” rating in a report on Tuesday, September 24th. ValuEngine lowered shares of Altria Group from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Altria Group in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Altria Group presently has an average rating of “Hold” and an average price target of $54.35.

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.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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