Oliver Luxxe Assets LLC Increases Holdings in Altria Group Inc (MO)
Oliver Luxxe Assets LLC boosted its position in Altria Group Inc (NYSE:MO) by 68.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,698 shares of the company’s stock after purchasing an additional 12,088 shares during the period. Oliver Luxxe Assets LLC’s holdings in Altria Group were worth $2,121,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in MO. Vanguard Group Inc. raised its stake in shares of Altria Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock worth $10,129,659,000 after buying an additional 2,690,270 shares during the period. BlackRock Inc. raised its stake in shares of Altria Group by 7.6% in the second quarter. BlackRock Inc. now owns 127,525,988 shares of the company’s stock worth $9,496,859,000 after buying an additional 8,969,677 shares during the period. Capital World Investors raised its stake in shares of Altria Group by 27.6% in the second quarter. Capital World Investors now owns 41,157,755 shares of the company’s stock worth $3,065,018,000 after buying an additional 8,914,575 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Altria Group by 7.6% in the third quarter. Bank of New York Mellon Corp now owns 21,970,538 shares of the company’s stock worth $1,393,372,000 after buying an additional 1,561,120 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Altria Group by 5.3% in the second quarter. Ameriprise Financial Inc. now owns 20,802,163 shares of the company’s stock worth $1,550,057,000 after buying an additional 1,040,839 shares during the period. 62.75% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently commented on MO shares. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Altria Group in a research note on Friday, October 27th. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price objective on the stock in a research note on Tuesday, October 24th. Berenberg Bank raised Altria Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $60.01 to $71.00 in a research note on Tuesday, December 19th. UBS Group decreased their price objective on Altria Group from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, October 27th. Finally, Edward Jones raised Altria Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $73.66.
Shares of Altria Group Inc (NYSE:MO) opened at $64.03 on Monday. The stock has a market capitalization of $122,180.00, a P/E ratio of 12.06, a P/E/G ratio of 1.87 and a beta of 0.53. Altria Group Inc has a 12 month low of $60.01 and a 12 month high of $77.79. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.64.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.80 billion. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. equities analysts forecast that Altria Group Inc will post 4 earnings per share for the current fiscal year.
Altria Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
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About Altria Group
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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