Altria Group (MO) Shares Sold by Utah Retirement Systems
Utah Retirement Systems lessened its holdings in Altria Group (NYSE:MO) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 354,344 shares of the company’s stock after selling 4,400 shares during the period. Utah Retirement Systems’ holdings in Altria Group were worth $26,388,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in MO. State Street Corp raised its holdings in Altria Group by 0.9% during the 1st quarter. State Street Corp now owns 74,624,722 shares of the company’s stock valued at $5,329,771,000 after acquiring an additional 687,246 shares during the period. Federated Investors Inc. PA raised its holdings in Altria Group by 1.8% during the 2nd quarter. Federated Investors Inc. PA now owns 12,736,904 shares of the company’s stock valued at $948,518,000 after acquiring an additional 227,112 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Altria Group by 3.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 9,121,177 shares of the company’s stock valued at $679,255,000 after acquiring an additional 330,687 shares during the period. Legal & General Group Plc raised its holdings in Altria Group by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 9,038,913 shares of the company’s stock valued at $673,135,000 after acquiring an additional 241,211 shares during the period. Finally, Swiss National Bank raised its holdings in Altria Group by 25.1% during the 1st quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock valued at $534,678,000 after acquiring an additional 1,501,400 shares during the period. Hedge funds and other institutional investors own 62.29% of the company’s stock.
Shares of Altria Group (NYSE:MO) opened at $65.84 on Tuesday. Altria Group has a fifty-two week low of $60.01 and a fifty-two week high of $77.79. The company has a current ratio of 0.77, a quick ratio of 0.48 and a debt-to-equity ratio of 1.14. The company has a market cap of $124,070.50, a P/E ratio of 20.58, a PEG ratio of 2.66 and a beta of 0.60.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.03. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. sell-side analysts forecast that Altria Group will post 3.28 EPS for the current year.
Altria Group declared that its Board of Directors has authorized a stock buyback program on Thursday, July 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 0.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
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Several research analysts have recently weighed in on MO shares. Stifel Nicolaus decreased their price target on shares of Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, July 31st. Piper Jaffray Companies set a $76.00 target price on shares of Altria Group and gave the stock a “buy” rating in a research report on Thursday, July 27th. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 target price for the company. in a research report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Wednesday, October 11th. Finally, Citigroup Inc. cut their target price on shares of Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Altria Group currently has a consensus rating of “Hold” and a consensus price target of $72.04.
In other news, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total transaction of $1,959,040.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.11% of the company’s stock.
Altria Group 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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