Simmons Bank Reduces Position in Altria Group (MO)
Simmons Bank lowered its position in shares of Altria Group (NYSE:MO) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,494 shares of the company’s stock after selling 289 shares during the period. Simmons Bank’s holdings in Altria Group were worth $1,865,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Emerald Acquisition Ltd. bought a new stake in Altria Group during the second quarter worth 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 worth $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 worth $1,311,960,000 after buying an additional 2,688,986 shares during the period. Bank of Montreal Can bought a new stake in Altria Group during the second quarter worth 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 worth $1,761,192,000 after buying an additional 2,464,718 shares during the period. 60.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of Altria Group (NYSE:MO) traded up 0.54% during midday trading on Tuesday, reaching $65.18. 7,004,381 shares of the company traded hands. The stock has a market capitalization of $127.23 billion, a P/E ratio of 24.50 and a beta of 0.57. The stock’s 50-day moving average is $63.65 and its 200-day moving average is $65.27. Altria Group has a 1-year low of $56.15 and a 1-year high of $70.15.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 27th. The company reported $0.82 earnings per share for the quarter, beating the 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 firm earned $6.90 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts predict that Altria Group will post $3.03 EPS for the current fiscal year.
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MO has been the subject of a number of recent analyst reports. Vetr cut shares of Altria Group from a “buy” rating to a “hold” rating and set a $68.29 target price for the company. in a research note on Tuesday, November 1st. 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 research note on Saturday, October 15th. Citigroup Inc. reiterated a “buy” rating and issued a $72.00 target price on shares of Altria Group in a research note on Monday, September 26th. decreased their price objective on shares of Altria Group from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, September 15th. Finally, Zacks Investment Research cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $69.52.
In related news, CEO Martin J. Barrington sold 15,960 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $65.85, for a total value of $1,050,966.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at 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 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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