Altria Group (MO) Shares Sold by APG Asset Management N.V.
APG Asset Management N.V. decreased its stake in Altria Group (NYSE:MO) by 8.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,918,505 shares of the company’s stock after selling 273,500 shares during the period. APG Asset Management N.V. owned about 0.15% of Altria Group worth $217,341,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Investment Advisors Ltd. increased 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 valued at $100,000 after buying an additional 800 shares during the period. Perigon Wealth Management LLC increased its stake in Altria Group by 4.7% in the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after buying an additional 74 shares during the last quarter. Proficio Capital Partners LLC increased its stake in Altria Group by 97.4% in the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after buying an additional 821 shares during the last quarter. Advantage Investment Management LLC increased its stake in Altria Group by 1.9% in the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock valued at $125,000 after buying an additional 32 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new stake in Altria Group during the first quarter valued at $134,000. Hedge funds and other institutional investors own 62.39% of the company’s stock.
Shares of Altria Group (NYSE MO) traded down 0.50% during trading on Tuesday, hitting $64.07. The stock had a trading volume of 1,956,334 shares. The stock’s 50-day moving average is $69.48 and its 200-day moving average is $72.47. The stock has a market cap of $123.53 billion, a price-to-earnings ratio of 8.45 and a beta of 0.61. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.01. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the prior year, the business earned $0.81 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts expect that Altria Group will post $3.26 EPS for the current year.
Altria Group declared that its board has initiated a share buyback program on Thursday, July 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 0.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Several analysts have weighed in on MO shares. Vetr upgraded Altria Group from a “hold” rating to a “buy” rating and set a $74.89 price target on the stock in a research note on Monday, April 24th. Zacks Investment Research downgraded Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Piper Jaffray Companies started coverage on Altria Group in a research note on Wednesday, May 24th. They set an “overweight” rating and a $76.00 price target on the stock. Royal Bank Of Canada reiterated a “sell” rating and set a $62.00 price target on shares of Altria Group in a research note on Friday, May 26th. Finally, BidaskClub upgraded Altria Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $72.66.
In related news, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction 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 is accessible through this link. Company insiders own 0.15% of the company’s stock.
Altria Group Company Profile
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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