Schmidt P J Investment Management Inc. Reduces Position in Altria Group (MO)
Schmidt P J Investment Management Inc. cut its position in shares of Altria Group (NYSE:MO) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,300 shares of the company’s stock after selling 78 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Altria Group were worth $1,884,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sterling Investment Advisors Ltd. raised 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 period. Perigon Wealth Management LLC raised 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 period. Proficio Capital Partners LLC raised 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 period. Advantage Investment Management LLC raised 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 period. Finally, Feltz Wealth PLAN Inc. acquired a new position in shares of Altria Group during the first quarter worth about $134,000. Institutional investors and hedge funds own 62.39% of the company’s stock.
Shares of Altria Group (MO) traded down 0.47% during mid-day trading on Friday, hitting $64.00. 3,408,012 shares of the stock traded hands. The stock has a market cap of $123.39 billion, a price-to-earnings ratio of 8.44 and a beta of 0.61. The firm’s 50-day moving average is $70.07 and its 200-day moving average is $72.56. Altria Group has a 52 week low of $60.01 and a 52 week high of $77.79.
Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by $0.01. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. The business had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period last year, the business earned $0.81 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts forecast that Altria Group will post $3.26 earnings per share for the current year.
Altria Group declared that its board has authorized a share repurchase plan on Thursday, July 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 0.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
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A number of brokerages recently issued reports on MO. Berenberg Bank set a $72.00 price objective on shares of Altria Group and gave the company a “hold” rating in a report on Sunday, August 6th. BidaskClub upgraded shares of Altria Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $79.51 price objective for the company in a report on Monday, July 31st. UBS AG dropped their price objective on shares of 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 price objective on shares of Altria Group from $77.00 to $72.00 and set a “buy” rating for the company in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $72.66.
In other Altria Group news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the transaction, the chief executive officer now owns 701,074 shares of the company’s stock, valued at $45,590,842.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director George Munoz sold 5,000 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $72.35, for a total value of $361,750.00. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
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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