Altria Group Inc (MO) Stake Increased by Bogart Wealth LLC
Bogart Wealth LLC grew its holdings in shares of Altria Group Inc (NYSE:MO) by 14.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,484 shares of the company’s stock after acquiring an additional 3,228 shares during the period. Altria Group comprises about 1.2% of Bogart Wealth LLC’s investment portfolio, making the stock its 16th biggest holding. Bogart Wealth LLC’s holdings in Altria Group were worth $1,820,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Altria Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock worth $10,129,659,000 after purchasing an additional 2,690,270 shares in the last quarter. BlackRock Inc. grew its stake in Altria Group by 7.6% in the second quarter. BlackRock Inc. now owns 127,525,988 shares of the company’s stock worth $9,496,859,000 after purchasing an additional 8,969,677 shares in the last quarter. Capital World Investors grew its stake in Altria Group by 27.6% in the second quarter. Capital World Investors now owns 41,157,755 shares of the company’s stock worth $3,065,018,000 after purchasing an additional 8,914,575 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Altria Group by 7.6% in the third quarter. Bank of New York Mellon Corp now owns 21,970,538 shares of the company’s stock worth $1,393,372,000 after purchasing an additional 1,561,120 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Altria Group by 5.3% in the second quarter. Ameriprise Financial Inc. now owns 20,802,163 shares of the company’s stock worth $1,550,057,000 after purchasing an additional 1,040,839 shares in the last quarter. Institutional investors own 62.75% of the company’s stock.
MO has been the subject of a number of research reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 price target on shares of Altria Group in a research note on Friday, October 27th. Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price target for the company in a research note on Tuesday, October 24th. Berenberg Bank upgraded Altria Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $60.01 to $71.00 in a research note on Tuesday, December 19th. UBS Group cut their target price on shares of Altria Group from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Finally, Zacks Investment Research cut shares of Altria Group from a “buy” rating to a “hold” rating in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $73.20.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.11. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the company posted $0.68 earnings per share. Altria Group’s revenue was down .4% on a year-over-year basis. equities analysts expect that Altria Group Inc will post 4 EPS for the current fiscal year.
Altria Group announced that its board has authorized a share buyback plan on Thursday, February 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows 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 stock is undervalued.
In other news, CEO Craig A. Johnson sold 14,953 shares of Altria Group stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $66.59, for a total transaction of $995,720.27. Following the sale, the chief executive officer now owns 64,809 shares of the company’s stock, valued at $4,315,631.31. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.11% of the company’s stock.
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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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