Brighton Jones LLC Acquires New Position in Altria Group (MO)
Brighton Jones LLC acquired a new stake in Altria Group (NYSE:MO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,737 shares of the company’s stock, valued at approximately $1,619,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Sterling Investment Advisors Ltd. increased its stake in shares of Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after buying an additional 800 shares during the period. Solaris Asset Management LLC increased its stake in shares of Altria Group by 65.7% in the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after buying an additional 557 shares during the period. CKW Financial Group acquired a new position in shares of Altria Group in the second quarter valued at approximately $109,000. Perigon Wealth Management LLC increased its stake in shares of Altria Group by 4.7% in the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after buying an additional 74 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in shares of Altria Group by 97.4% in the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after buying an additional 821 shares during the period. 62.29% of the stock is owned by institutional investors.
Several research firms have recently issued reports on MO. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price objective for the company in a research note on Monday, November 6th. Berenberg Bank set a $72.00 target price on shares of Altria Group and gave the company a “hold” rating in a research report on Sunday, August 6th. Royal Bank Of Canada reissued a “hold” rating and set a $62.00 target price on shares of Altria Group in a research report on Tuesday, October 3rd. BidaskClub raised shares of Altria Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, UBS AG decreased their target price on shares of Altria Group from $78.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $72.04.
Altria Group (MO) opened at $65.26 on Thursday. The stock has a market capitalization of $125,425.33, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. Altria Group has a twelve month low of $60.01 and a twelve month high of $77.79. The company has a current ratio of 0.77, a quick ratio of 0.48 and a debt-to-equity ratio of 1.14.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $5.10 billion for 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 company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 EPS. sell-side analysts anticipate that Altria Group will post 3.28 earnings per share for the current fiscal year.
Altria Group declared that its Board of Directors has initiated a share repurchase program on Thursday, July 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 0.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other Altria Group news, Director Dinyar S. Devitre sold 32,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $61.22, for a total transaction of $1,959,040.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.
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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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