Narwhal Capital Management Decreases Stake in Altria Group (MO)
Narwhal Capital Management cut its stake in shares of Altria Group (NYSE:MO) by 3.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,500 shares of the company’s stock after selling 1,800 shares during the period. Narwhal Capital Management’s holdings in Altria Group were worth $3,067,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Emerald Acquisition Ltd. acquired a new stake in Altria Group during the second quarter valued at approximately $233,157,000. Vanguard Group Inc. boosted its stake in Altria Group by 2.8% in the second quarter. Vanguard Group Inc. now owns 125,294,855 shares of the company’s stock valued at $8,640,334,000 after buying an additional 3,366,581 shares during the period. Janus Capital Management LLC boosted its stake in Altria Group by 16.5% in the second quarter. Janus Capital Management LLC now owns 19,024,943 shares of the company’s stock valued at $1,311,960,000 after buying an additional 2,688,986 shares during the period. Bank of Montreal Can acquired a new stake in Altria Group during the second quarter valued at approximately $170,990,000. Finally, FMR LLC boosted its stake in Altria Group by 10.7% in the second quarter. FMR LLC now owns 25,539,336 shares of the company’s stock valued at $1,761,192,000 after buying an additional 2,464,718 shares during the period. 60.04% of the stock is owned by hedge funds and other institutional investors.
Altria Group (NYSE:MO) traded up 0.54% during midday trading on Tuesday, hitting $65.18. The company had a trading volume of 7,004,381 shares. The company has a market cap of $127.23 billion, a P/E ratio of 24.50 and a beta of 0.57. The company’s 50 day moving average is $63.59 and its 200-day moving average is $65.26. Altria Group has a one year low of $56.15 and a one year high of $70.15.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.01. The business had revenue of $6.90 billion for the quarter, compared to analyst estimates of $5.11 billion. Altria Group had a return on equity of 202.19% and a net margin of 20.19%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 EPS. On average, equities analysts predict that Altria Group will post $3.03 EPS for the current year.
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A number of brokerages have recently issued reports on MO. decreased their target price on Altria Group from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, September 15th. Vetr cut Altria Group from a “strong-buy” rating to a “buy” rating and set a $75.77 target price for the company. in a report on Monday, August 1st. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $68.00 target price (down previously from $69.00) on shares of Altria Group in a report on Saturday, October 15th. Argus set a $73.00 target price on Altria Group and gave the stock a “buy” rating in a report on Monday, August 1st. Finally, Zacks Investment Research cut Altria Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $69.52.
In other news, CEO Martin J. Barrington sold 15,960 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $65.85, for a total transaction of $1,050,966.00. Following the transaction, the chief executive officer now owns 833,577 shares of the company’s stock, valued at approximately $54,891,045.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.
Altria Group Company Profile
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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