Welch Group LLC lowered its position in shares of Altria Group Inc (NYSE:MO) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,158 shares of the company’s stock after selling 267 shares during the period. Welch Group LLC’s holdings in Altria Group were worth $129,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Julex Capital Management LLC bought a new stake in Altria Group in the 3rd quarter worth approximately $25,000. Vigilant Capital Management LLC grew its position in shares of Altria Group by 140.3% during the 3rd quarter. Vigilant Capital Management LLC now owns 704 shares of the company’s stock valued at $29,000 after acquiring an additional 411 shares during the period. KCS Wealth Advisory bought a new stake in shares of Altria Group during the 3rd quarter valued at $40,000. HMS Capital Management LLC bought a new stake in shares of Altria Group during the 2nd quarter valued at $41,000. Finally, Salomon & Ludwin LLC grew its position in shares of Altria Group by 189.0% during the 2nd quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock valued at $41,000 after acquiring an additional 567 shares during the period. 63.27% of the stock is owned by institutional investors.
Shares of MO remained flat at $$46.41 during trading hours on Monday. 5,895,565 shares of the company were exchanged, compared to its average volume of 10,293,511. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.27 and a current ratio of 0.56. Altria Group Inc has a 52 week low of $39.30 and a 52 week high of $62.94. The company’s 50-day simple moving average is $43.64 and its 200-day simple moving average is $47.44. The company has a market capitalization of $86.40 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.72 and a beta of 0.41.
Altria Group (NYSE:MO) last released its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Altria Group had a net margin of 7.00% and a return on equity of 56.17%. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter in the previous year, the company earned $1.08 EPS. Altria Group’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts expect that Altria Group Inc will post 4.21 earnings per share for the current fiscal year.
Altria Group declared that its board has authorized a share repurchase plan on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 1.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
A number of equities research analysts have recently issued reports on MO shares. Morgan Stanley set a $44.00 price objective on shares of Altria Group and gave the company a “hold” rating in a research report on Tuesday, September 24th. Citigroup boosted their price objective on shares of Altria Group from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Cowen reissued a “hold” rating on shares of Altria Group in a research report on Thursday, September 12th. Stifel Nicolaus reissued a “buy” rating on shares of Altria Group in a research report on Tuesday, October 15th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Altria Group in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Altria Group currently has an average rating of “Hold” and an average target price of $54.35.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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