Beacon Financial Group Has $8,370,000 Stake in Altria Group (MO)
Beacon Financial Group increased its position in Altria Group (NYSE:MO) by 0.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 133,247 shares of the company’s stock after buying an additional 294 shares during the period. Altria Group comprises approximately 1.8% of Beacon Financial Group’s portfolio, making the stock its 21st largest position. Beacon Financial Group’s holdings in Altria Group were worth $8,370,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of MO. First PREMIER Bank acquired a new position in Altria Group during the second quarter worth $103,000. First Personal Financial Services raised its position in Altria Group by 66.3% in the second quarter. First Personal Financial Services now owns 1,603 shares of the company’s stock valued at $111,000 after buying an additional 639 shares during the last quarter. Tortoise Investment Management LLC raised its position in Altria Group by 26.6% in the second quarter. Tortoise Investment Management LLC now owns 1,654 shares of the company’s stock valued at $114,000 after buying an additional 348 shares during the last quarter. Zions Bancorporation raised its position in Altria Group by 48.4% in the second quarter. Zions Bancorporation now owns 1,971 shares of the company’s stock valued at $137,000 after buying an additional 643 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Altria Group by 4.8% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,086 shares of the company’s stock valued at $144,000 after buying an additional 96 shares during the last quarter. 61.25% of the stock is currently owned by hedge funds and other institutional investors.
Altria Group (NYSE:MO) traded down 0.06% on Friday, reaching $62.77. 6,904,990 shares of the company’s stock traded hands. Altria Group has a 52 week low of $56.15 and a 52 week high of $70.15. The firm has a market capitalization of $122.53 billion, a P/E ratio of 23.60 and a beta of 0.57. The stock has a 50-day moving average of $63.41 and a 200 day moving average of $65.21.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01. Altria Group had a net margin of 20.19% and a return on equity of 202.19%. The company had revenue of $6.90 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same period last year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts expect that Altria Group will post $3.03 EPS for the current fiscal year.
Several equities analysts have weighed in on the stock. Jefferies Group reiterated a “hold” rating and issued a $68.00 target price on shares of Altria Group in a report on Wednesday. Vetr lowered shares of Altria Group from a “buy” rating to a “hold” rating and set a $68.29 target price on the stock. in a report on Tuesday, November 8th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $68.00 target price (down from $69.00) on shares of Altria Group in a report on Saturday, October 15th. Citigroup Inc. reiterated a “buy” rating and issued a $72.00 target price on shares of Altria Group in a report on Monday, September 26th. Finally, Credit Agricole SA decreased their target price on shares of Altria Group from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, September 15th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Altria Group currently has a consensus rating of “Buy” and an average price target of $69.94.
In other Altria Group news, CEO Martin J. Barrington sold 15,960 shares of the firm’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $65.85, for a total transaction of $1,050,966.00. Following the sale, the chief executive officer now directly owns 833,577 shares of the company’s stock, valued at approximately $54,891,045.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.15% of the company’s stock.
About Altria Group
Altria Group, Inc is a holding company. 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 large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.
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