FineMark National Bank & Trust boosted its holdings in Altria Group Inc (NYSE:MO) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,770 shares of the company’s stock after acquiring an additional 1,427 shares during the quarter. FineMark National Bank & Trust’s holdings in Altria Group were worth $3,340,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Altria Group by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock valued at $10,129,659,000 after buying an additional 2,690,270 shares during the period. BlackRock Inc. lifted its holdings in shares of Altria Group by 7.6% during the 2nd quarter. BlackRock Inc. now owns 127,525,988 shares of the company’s stock valued at $9,496,859,000 after buying an additional 8,969,677 shares during the period. Capital World Investors lifted its holdings in shares of Altria Group by 27.6% during the 2nd quarter. Capital World Investors now owns 41,157,755 shares of the company’s stock valued at $3,065,018,000 after buying an additional 8,914,575 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Altria Group by 7.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 21,970,538 shares of the company’s stock valued at $1,393,372,000 after buying an additional 1,561,120 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Altria Group by 5.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 20,802,163 shares of the company’s stock valued at $1,550,057,000 after buying an additional 1,040,839 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.
In other Altria Group news, CEO Craig A. Johnson sold 14,953 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $66.59, for a total value of $995,720.27. Following the completion of the sale, the chief executive officer now owns 64,809 shares in the company, valued at approximately $4,315,631.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP James E. Dillard III sold 6,500 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $63.13, for a total value of $410,345.00. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.11. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the business posted $0.68 EPS. Altria Group’s revenue for the quarter was down .4% compared to the same quarter last year. research analysts anticipate that Altria Group Inc will post 3.99 earnings per share for the current fiscal year.
Altria Group announced that its Board of Directors has initiated a share buyback program on Thursday, February 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
Several research firms have recently commented on MO. Berenberg Bank upgraded Altria Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $60.01 to $71.00 in a research note on Tuesday, December 19th. Vetr lowered Altria Group from a “hold” rating to a “sell” rating and set a $67.97 price objective for the company. in a research note on Monday, December 11th. Zacks Investment Research lowered Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Wells Fargo & Co upped their price objective on Altria Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Finally, Piper Jaffray Companies upped their price objective on Altria Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $73.66.
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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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