Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Altria Group Inc (NYSE:MO) by 12.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 519,105 shares of the company’s stock after buying an additional 58,971 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Altria Group were worth $37,069,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of MO. Balentine LLC increased its holdings in Altria Group by 32.4% in the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock worth $109,000 after buying an additional 357 shares during the last quarter. NewSquare Capital LLC increased its holdings in Altria Group by 4,734.7% in the third quarter. NewSquare Capital LLC now owns 108,780 shares of the company’s stock worth $109,000 after buying an additional 106,530 shares during the last quarter. Quantum Capital Management LLC NJ acquired a new position in Altria Group in the third quarter worth approximately $114,000. Northwest Investment Counselors LLC increased its holdings in 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 buying an additional 1,543 shares during the last quarter. Finally, Oak Point Wealth Management acquired a new position in Altria Group in the fourth quarter worth approximately $120,000. Institutional investors own 63.01% of the company’s stock.
In other news, CEO Craig A. Johnson sold 14,953 shares of the stock in a transaction that occurred 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 directly owns 64,809 shares of the company’s stock, valued at $4,315,631.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James E. Dillard III sold 6,500 shares of the stock in a transaction that occurred on 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 corporate insiders.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. equities analysts forecast that Altria Group Inc will post 3.99 EPS for the current fiscal year.
Altria Group announced that its board has authorized a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
A number of equities analysts recently commented on MO shares. Berenberg Bank upgraded Altria Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $60.01 to $71.00 in a report on Tuesday, December 19th. Vetr downgraded Altria Group from a “buy” rating to a “hold” rating and set a $71.65 price objective on the stock. in a report on Monday, December 4th. Zacks Investment Research downgraded Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Edward Jones upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. Finally, Jefferies Group upgraded Altria Group from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $70.04 to $70.00 in a report on Friday, January 19th. 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 assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $73.66.
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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