Altria Group (MO) Position Lowered by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. cut its stake in shares of Altria Group (NYSE:MO) by 7.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 256,223 shares of the company’s stock after selling 21,214 shares during the period. Oppenheimer & Co. Inc.’s holdings in Altria Group were worth $18,299,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Advantage Investment Management LLC boosted its position in Altria Group by 1.9% in the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock worth $125,000 after buying an additional 32 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new position in Altria Group during the first quarter worth approximately $134,000. Acropolis Investment Management LLC boosted its position in Altria Group by 0.3% in the first quarter. Acropolis Investment Management LLC now owns 1,939 shares of the company’s stock worth $138,000 after buying an additional 5 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Altria Group by 102.5% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,669 shares of the company’s stock worth $191,000 after buying an additional 1,351 shares during the last quarter. Finally, Mascoma Wealth Management LLC boosted its position in Altria Group by 0.3% in the first quarter. Mascoma Wealth Management LLC now owns 2,701 shares of the company’s stock worth $193,000 after buying an additional 8 shares during the last quarter. 62.47% of the stock is currently owned by institutional investors and hedge funds.
Altria Group (NYSE:MO) traded down 0.23% during mid-day trading on Thursday, hitting $65.16. 1,202,064 shares of the stock were exchanged. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The company has a 50 day moving average of $72.04 and a 200 day moving average of $72.83. The firm has a market cap of $125.63 billion, a P/E ratio of 8.59 and a beta of 0.61.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.85 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 analyst estimates of $5.02 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Altria Group will post $3.26 earnings per share for the current fiscal year.
Altria Group declared that its Board of Directors has approved a share buyback program on Thursday, July 27th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 0.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
MO has been the topic of a number of research analyst reports. Vetr upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.89 price target on the stock in a report on Monday, April 24th. BidaskClub cut shares of Altria Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Piper Jaffray Companies set a $76.00 target price on shares of Altria Group and gave the stock a “buy” rating in a report on Thursday, July 27th. Stifel Nicolaus dropped their target price 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. Finally, Cowen and Company reiterated a “hold” rating and set a $74.00 target price on shares of Altria Group in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $72.66.
In other news, Director George Munoz sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total transaction of $361,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company’s stock.
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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