Davidson & Garrard Inc. Reduces Holdings in Altria Group (MO)
Davidson & Garrard Inc. lessened its stake in Altria Group (NYSE:MO) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,986 shares of the company’s stock after selling 200 shares during the quarter. Davidson & Garrard Inc.’s holdings in Altria Group were worth $818,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Sterling Investment Advisors Ltd. increased its stake in shares of Altria Group by 133.3% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after purchasing an additional 800 shares during the last quarter. Solaris Asset Management LLC increased its stake in shares of Altria Group by 65.7% during the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after purchasing an additional 557 shares during the last quarter. CKW Financial Group acquired a new position in shares of Altria Group during the 2nd quarter worth $109,000. Perigon Wealth Management LLC increased its stake in shares of Altria Group by 4.7% during the 1st quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock worth $118,000 after purchasing an additional 74 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Altria Group by 97.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock worth $121,000 after purchasing an additional 821 shares during the last quarter. Hedge funds and other institutional investors own 62.29% of the company’s stock.
In other Altria Group news, Director Dinyar S. Devitre sold 32,000 shares of the stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total value of $1,959,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by corporate insiders.
MO has been the topic of several analyst reports. BidaskClub lowered shares of Altria Group from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Cowen and Company set a $78.00 price target on shares of Altria Group and gave the stock a “hold” rating in a research note on Friday, July 28th. Piper Jaffray Companies set a $76.00 price target on shares of Altria Group and gave the stock a “buy” rating in a research note on Thursday, July 27th. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $79.51 price target on the stock in a research note on Monday, July 31st. Finally, Royal Bank Of Canada upgraded shares of Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 price target on the stock in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Altria Group presently has an average rating of “Hold” and a consensus price target of $72.04.
Shares of Altria Group (MO) opened at $65.26 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.77 and a debt-to-equity ratio of 1.14. Altria Group has a 1-year low of $60.01 and a 1-year high of $77.79. The firm has a market cap of $125,425.33, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the firm earned $0.82 EPS. The business’s revenue was down 1.8% on a year-over-year basis. equities research analysts predict that Altria Group will post 3.28 earnings per share for the current year.
Altria Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 0.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
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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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