Fishman Jay A Ltd. MI cut its stake in shares of Altria Group Inc (NYSE:MO) by 34.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,550 shares of the company’s stock after selling 6,000 shares during the period. Fishman Jay A Ltd. MI’s holdings in Altria Group were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of MO. Natixis raised its holdings in Altria Group by 428.3% during the second quarter. Natixis now owns 1,846,808 shares of the company’s stock worth $87,447,000 after purchasing an additional 1,497,259 shares in the last quarter. Bowling Portfolio Management LLC purchased a new position in Altria Group during the second quarter worth about $2,502,000. OLD Republic International Corp raised its holdings in Altria Group by 15.5% during the second quarter. OLD Republic International Corp now owns 746,750 shares of the company’s stock worth $35,359,000 after purchasing an additional 100,000 shares in the last quarter. Banco Santander S.A. raised its holdings in Altria Group by 3.0% during the second quarter. Banco Santander S.A. now owns 108,600 shares of the company’s stock worth $5,143,000 after purchasing an additional 3,163 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Altria Group by 28.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 117,465 shares of the company’s stock valued at $5,562,000 after buying an additional 26,294 shares in the last quarter. Institutional investors and hedge funds own 63.27% of the company’s stock.
MO has been the subject of a number of research analyst reports. TheStreet cut shares of Altria Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. Morgan Stanley set a $44.00 target price on shares of Altria Group and gave the company a “hold” rating in a report on Tuesday, September 24th. Royal Bank of Canada set a $68.00 target price on shares of Altria Group and gave the company a “buy” rating in a report on Wednesday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating on shares of Altria Group in a report on Tuesday, October 15th. Finally, Citigroup increased their target price on shares of Altria Group from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, November 1st. 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. Altria Group presently has a consensus rating of “Hold” and an average target price of $54.35.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating the 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 for the quarter, compared to analyst estimates of $5.34 billion. During the same period in the prior year, the business earned $1.08 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts expect that Altria Group Inc will post 4.21 EPS for the current fiscal year.
Altria Group announced that its Board of Directors has initiated a share buyback program on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Altria Group Company 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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