Traders Sell Shares of Altria Group (MO) on Strength (MO)
Investors sold shares of Altria Group (NYSE:MO) on strength during trading hours on Thursday. $60.15 million flowed into the stock on the tick-up and $103.90 million flowed out of the stock on the tick-down, for a money net flow of $43.75 million out of the stock. Of all equities tracked, Altria Group had the 0th highest net out-flow for the day. Altria Group traded up $0.36 for the day and closed at $67.11
A number of analysts recently commented on MO shares. Stifel Nicolaus reiterated a “buy” rating and issued a $71.00 target price (up from $65.00) on shares of Altria Group in a report on Monday, June 27th. Berenberg Bank assumed coverage on shares of Altria Group in a research report on Tuesday, June 14th. They issued a “buy” rating and a $74.00 target price on the stock. Vetr downgraded shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $72.13 target price on the stock. in a research report on Monday, June 6th. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Monday, April 4th. Finally, Argus raised shares of Altria Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $62.93 to $68.00 in a research report on Monday, May 9th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $68.52.
The company has a 50 day moving average of $67.78 and a 200-day moving average of $63.35. The firm has a market capitalization of $131.27 billion and a P/E ratio of 24.22.
Altria Group (NYSE:MO) last released its earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. During the same quarter in the previous year, the company posted $0.74 earnings per share. The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $5.01 billion. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts predict that Altria Group will post $3.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Wednesday, June 15th were given a $0.565 dividend. The ex-dividend date was Monday, June 13th. This represents a $2.26 dividend on an annualized basis and a dividend yield of 3.37%.
In related news, CEO Brian W. Quigley sold 3,000 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the chief executive officer now directly owns 23,246 shares in the company, valued at approximately $1,479,840.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nabil Y. Sakkab purchased 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The stock was purchased at an average price of $63.20 per share, for a total transaction of $252,800.00. Following the completion of the transaction, the director now directly owns 31,630 shares in the company, valued at $1,999,016. The disclosure for this purchase can be found here.
Several hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its stake in shares of Altria Group by 6.3% in the fourth quarter. Morgan Stanley now owns 21,038,153 shares of the company’s stock worth $1,224,631,000 after buying an additional 1,246,488 shares in the last quarter. NorthCoast Asset Management LLC increased its stake in shares of Altria Group by 3,774.3% in the fourth quarter. NorthCoast Asset Management LLC now owns 984,193 shares of the company’s stock worth $57,290,000 after buying an additional 958,790 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Altria Group by 3.5% in the fourth quarter. Wells Fargo & Company MN now owns 11,184,442 shares of the company’s stock worth $651,046,000 after buying an additional 382,074 shares in the last quarter. Artemis Investment Management LLP increased its stake in shares of Altria Group by 71.8% in the fourth quarter. Artemis Investment Management LLP now owns 900,305 shares of the company’s stock worth $52,402,000 after buying an additional 376,126 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in shares of Altria Group by 47.6% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 781,347 shares of the company’s stock worth $45,482,000 after buying an additional 251,871 shares in the last quarter.
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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