Hayek Kallen Investment Management Sells 1,434 Shares of Altria Group Inc (NYSE:MO)

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Hayek Kallen Investment Management lowered its holdings in shares of Altria Group Inc (NYSE:MO) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,108 shares of the company’s stock after selling 1,434 shares during the quarter. Hayek Kallen Investment Management’s holdings in Altria Group were worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also 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 about $25,000. Vigilant Capital Management LLC grew its holdings in Altria Group by 140.3% during the third quarter. Vigilant Capital Management LLC now owns 704 shares of the company’s stock valued at $29,000 after purchasing an additional 411 shares during the period. HMS Capital Management LLC acquired a new position in Altria Group during the second quarter valued at approximately $41,000. Salomon & Ludwin LLC grew its holdings in Altria Group by 189.0% during the second quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock valued at $41,000 after purchasing an additional 567 shares during the period. Finally, Titan Capital Management LLC CA acquired a new position in shares of Altria Group in the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 63.27% of the company’s stock.

Altria Group stock traded up $0.43 during trading hours on Friday, reaching $46.41. 5,522,956 shares of the stock were exchanged, compared to its average volume of 10,315,709. The stock has a 50 day moving average of $43.42 and a two-hundred day moving average of $47.52. Altria Group Inc has a twelve month low of $39.30 and a twelve month high of $66.04. The company has a current ratio of 0.56, a quick ratio of 0.27 and a debt-to-equity ratio of 2.53. The company has a market cap of $86.40 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 1.72 and a beta of 0.41.

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

Altria Group declared that its Board of Directors has initiated a share repurchase plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 1.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Several research analysts have recently weighed in on the stock. TheStreet cut shares of Altria Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. Citigroup boosted their price objective on shares of Altria Group from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Piper Jaffray Companies set a $49.00 price objective on shares of Altria Group and gave the stock a “hold” rating in a research report on Monday, September 30th. ValuEngine lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, Argus set a $60.00 price objective on shares of Altria Group and gave the stock a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $54.35.

About Altria Group

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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