Alliance Wealth Management Group cut its holdings in Altria Group Inc (NYSE:MO) by 51.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,209 shares of the company’s stock after selling 3,409 shares during the quarter. Alliance Wealth Management Group’s holdings in Altria Group were worth $229,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Balentine LLC raised its holdings in Altria Group by 32.4% during the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after purchasing an additional 357 shares during the last quarter. Oak Point Wealth Management acquired a new position in shares of Altria Group in the fourth quarter worth $120,000. INR Advisory Services LLC acquired a new position in shares of Altria Group in the second quarter worth $134,000. Quantum Capital Management LLC NJ acquired a new position in shares of Altria Group in the third quarter worth $114,000. Finally, Northwest Investment Counselors LLC raised its holdings in shares of Altria Group by 557.0% in the third quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock worth $115,000 after acquiring an additional 1,543 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Craig A. Johnson sold 14,953 shares of Altria Group 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 of the company’s stock, valued at $4,315,631.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James E. Dillard III sold 6,500 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were 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. 0.11% of the stock is owned by insiders.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.11. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.80 billion. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. analysts expect that Altria Group Inc will post 3.99 EPS for the current year.
Altria Group announced that its board has initiated a share buyback plan on Thursday, February 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
A number of research firms have recently weighed in on MO. Berenberg Bank reissued a “hold” rating on shares of Altria Group in a report on Tuesday, October 31st. Vetr raised Altria Group from a “hold” rating to a “buy” rating and set a $71.45 price target for the company in a report on Monday, February 5th. Jefferies Group raised Altria Group from a “hold” rating to a “buy” rating and cut their price target for the stock from $70.04 to $70.00 in a report on Friday, January 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $62.00 price target (down from $65.00) on shares of Altria Group in a report on Monday, February 5th. Finally, Wells Fargo & Co boosted their price target on Altria Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $73.66.
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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