Altria Group (MO) Stake Lifted by Prudential Financial Inc.
Prudential Financial Inc. lifted its holdings in shares of Altria Group (NYSE:MO) by 26.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,957,386 shares of the company’s stock after purchasing an additional 1,040,250 shares during the quarter. Altria Group accounts for approximately 0.5% of Prudential Financial Inc.’s portfolio, making the stock its 28th largest position. Prudential Financial Inc. owned about 0.26% of Altria Group worth $369,177,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of MO. Cadinha & Co. LLC lifted its position in Altria Group by 34.8% in the second quarter. Cadinha & Co. LLC now owns 9,301 shares of the company’s stock valued at $693,000 after purchasing an additional 2,401 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its holdings in shares of Altria Group by 164.9% during the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 244,398 shares of the company’s stock valued at $18,149,000 after acquiring an additional 152,121 shares in the last quarter. LMR Partners LLP bought a new position in shares of Altria Group during the second quarter valued at approximately $1,120,000. Teacher Retirement System of Texas raised its holdings in shares of Altria Group by 4.6% during the second quarter. Teacher Retirement System of Texas now owns 1,763,350 shares of the company’s stock valued at $131,317,000 after acquiring an additional 76,988 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its holdings in shares of Altria Group by 10.3% during the first quarter. Westwood Holdings Group Inc. now owns 155,121 shares of the company’s stock valued at $11,079,000 after acquiring an additional 14,444 shares in the last quarter. 62.30% of the stock is owned by institutional investors and hedge funds.
In other news, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $61.22, for a total value of $1,959,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is currently owned by insiders.
Altria Group (NYSE:MO) opened at $65.02 on Friday. The firm has a market capitalization of $124,070.50, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 2.66 and a beta of 0.60. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.48 and a current ratio of 0.77. Altria Group has a 1-year low of $60.01 and a 1-year high of $77.79.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. equities research analysts expect that Altria Group will post 3.28 earnings per share for the current fiscal year.
Altria Group announced that its Board of Directors has authorized a share buyback plan on Thursday, July 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 0.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
A number of research firms have issued reports on MO. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price objective for the company. in a report on Wednesday, September 6th. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Wednesday, October 11th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $76.00 price objective on shares of Altria Group in a research report on Friday, October 27th. BidaskClub raised Altria Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Royal Bank of Canada raised Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 target price on the stock in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Altria Group has a consensus rating of “Buy” and an average price target of $72.06.
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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