Altria Group (NYSE:MO) Shares Bought by Sheets Smith Wealth Management
Sheets Smith Wealth Management raised its stake in Altria Group (NYSE:MO) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 5,023 shares of the company’s stock after buying an additional 9 shares during the period. Sheets Smith Wealth Management’s holdings in Altria Group were worth $374,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in shares of Altria Group by 0.9% in the first quarter. State Street Corp now owns 74,624,722 shares of the company’s stock valued at $5,329,771,000 after buying an additional 687,246 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Altria Group by 5.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 8,790,490 shares of the company’s stock valued at $627,817,000 after buying an additional 476,393 shares during the last quarter. Swiss National Bank boosted its stake in shares of Altria Group by 25.1% in the first quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock valued at $534,678,000 after buying an additional 1,501,400 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Altria Group by 7.4% in the first quarter. UBS Asset Management Americas Inc. now owns 5,632,931 shares of the company’s stock valued at $402,304,000 after buying an additional 387,069 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Altria Group by 9.1% in the first quarter. Parametric Portfolio Associates LLC now owns 4,639,646 shares of the company’s stock valued at $331,364,000 after buying an additional 388,541 shares during the last quarter. Institutional investors own 62.47% of the company’s stock.
Altria Group (NYSE MO) traded down 0.31% during trading on Thursday, reaching $65.11. The company’s stock had a trading volume of 2,310,352 shares. The firm has a 50 day moving average price of $72.04 and a 200-day moving average price of $72.83. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79. The stock has a market cap of $125.53 billion, a price-to-earnings ratio of 8.59 and a beta of 0.61.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by $0.01. The business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. On average, analysts expect that Altria Group will post $3.26 earnings per share for the current year.
Altria Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 0.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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MO has been the topic of several research reports. BidaskClub raised Altria Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Royal Bank Of Canada raised Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 price target on the stock in a research note on Monday, July 31st. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $79.51 price target on the stock in a research note on Monday, July 31st. Zacks Investment Research lowered Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Piper Jaffray Companies set a $76.00 price target on Altria Group and gave the company a “buy” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Altria Group currently has a consensus rating of “Hold” and an average price target of $72.66.
In other news, Director George Munoz sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total value of $361,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by insiders.
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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