Altria Group Inc (MO) Shares Bought by Berkeley Capital Partners LLC
Berkeley Capital Partners LLC lifted its holdings in shares of Altria Group Inc (NYSE:MO) by 13.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,958 shares of the company’s stock after purchasing an additional 2,490 shares during the period. Berkeley Capital Partners LLC’s holdings in Altria Group were worth $1,190,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Winthrop Advisory Group LLC boosted its position in shares of Altria Group by 26.7% during the 2nd quarter. Winthrop Advisory Group LLC now owns 6,024 shares of the company’s stock valued at $342,000 after purchasing an additional 1,270 shares in the last quarter. Landaas & Co. WI ADV acquired a new position in Altria Group during the 2nd quarter worth approximately $137,000. Girard Partners LTD. acquired a new position in Altria Group during the 2nd quarter worth approximately $7,256,000. St. Louis Trust Co raised its stake in Altria Group by 41.8% during the 2nd quarter. St. Louis Trust Co now owns 24,814 shares of the company’s stock worth $1,410,000 after buying an additional 7,314 shares during the period. Finally, Cedar Wealth Management LLC raised its stake in Altria Group by 26.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 573,184 shares of the company’s stock worth $32,551,000 after buying an additional 120,606 shares during the period. Institutional investors own 62.92% of the company’s stock.
A number of research analysts recently weighed in on the company. ValuEngine raised Altria Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Consumer Edge assumed coverage on Altria Group in a research note on Monday, June 11th. They set an “equal weight” rating and a $69.31 price target on the stock. Piper Jaffray Companies set a $75.00 price target on Altria Group and gave the stock a “buy” rating in a research note on Monday, July 23rd. Zacks Investment Research downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Friday, April 20th. Finally, Morgan Stanley dropped their price target on Altria Group from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $71.61.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, July 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $1.00 by $0.01. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. equities research analysts predict that Altria Group Inc will post 4 earnings per share for the current fiscal year.
Altria Group announced that its Board of Directors has approved a stock repurchase program on Thursday, May 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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