Oakbrook Investments LLC Sells 950 Shares of Altria Group (NYSE:MO)
Oakbrook Investments LLC cut its stake in shares of Altria Group (NYSE:MO) by 0.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 105,686 shares of the company’s stock after selling 950 shares during the period. Oakbrook Investments LLC’s holdings in Altria Group were worth $7,870,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of MO. Sterling Investment Advisors Ltd. boosted its position 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 worth $100,000 after buying an additional 800 shares during the last quarter. Perigon Wealth Management LLC boosted its position 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 worth $118,000 after buying an additional 74 shares during the last quarter. Proficio Capital Partners LLC boosted its position 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 worth $121,000 after buying an additional 821 shares during the last quarter. Advantage Investment Management LLC boosted its position in shares of Altria Group by 1.9% in the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock worth $125,000 after buying an additional 32 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. bought a new position in shares of Altria Group during the first quarter worth about $134,000. 62.47% of the stock is owned by hedge funds and other institutional investors.
Shares of Altria Group (NYSE MO) traded down 0.71% on Friday, reaching $64.31. The company’s stock had a trading volume of 7,275,652 shares. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79. The company has a market cap of $123.99 billion, a PE ratio of 8.48 and a beta of 0.61. The firm has a 50 day moving average of $71.34 and a 200 day moving average of $72.73.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by $0.01. The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.81 earnings per share. Analysts predict 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 stock repurchase program on Thursday, July 27th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 0.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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A number of equities analysts have recently issued reports on the company. Cowen and Company set a $78.00 target price on Altria Group and gave the stock a “hold” rating in a report on Friday, July 28th. Berenberg Bank set a $72.00 target price on Altria Group and gave the stock a “hold” rating in a report on Sunday, August 6th. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $80.18 target price for the company in a report on Tuesday, May 16th. UBS AG dropped their target price on Altria Group from $78.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, July 31st. Finally, Stifel Nicolaus dropped their target price on Altria Group from $77.00 to $72.00 and set a “buy” rating for the company in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $72.66.
In other news, Director George Munoz sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $72.35, for a total transaction of $361,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.
Altria Group Company 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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