Altria Group (MO) Shares Sold by Meyer Handelman Co.
Meyer Handelman Co. reduced its position in shares of Altria Group (NYSE:MO) by 2.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 247,032 shares of the company’s stock after selling 6,600 shares during the period. Meyer Handelman Co.’s holdings in Altria Group were worth $18,397,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sterling Investment Advisors Ltd. raised its stake in Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after buying an additional 800 shares in the last quarter. Perigon Wealth Management LLC raised its stake in Altria Group by 4.7% in the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after buying an additional 74 shares in the last quarter. Proficio Capital Partners LLC raised its stake in Altria Group by 97.4% in the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after buying an additional 821 shares in the last quarter. Advantage Investment Management LLC raised its stake in Altria Group by 1.9% in the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock valued at $125,000 after buying an additional 32 shares in the last quarter. Finally, Feltz Wealth PLAN Inc. acquired a new stake in Altria Group during the first quarter valued at approximately $134,000. 62.47% of the stock is owned by institutional investors.
Altria Group (NYSE:MO) traded down 0.71% during midday trading on Friday, reaching $64.31. 7,275,652 shares of the company traded hands. The stock has a market capitalization of $123.99 billion, a price-to-earnings ratio of 8.48 and a beta of 0.61. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. The firm has a 50 day moving average of $71.34 and a 200-day moving average of $72.73.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share 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 firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. Altria Group’s quarterly revenue was up 3.2% compared to the same quarter last year. Analysts forecast that Altria Group will post $3.26 EPS for the current fiscal year.
Altria Group announced that its Board of Directors has authorized a share buyback program on Thursday, July 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 0.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
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MO has been the topic of several research reports. BidaskClub upgraded shares of Altria Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Royal Bank Of Canada upgraded shares of Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 target price on the stock in a research report on Monday, July 31st. Cowen and Company set a $78.00 target price on shares of Altria Group and gave the stock a “hold” rating in a research report on Friday, July 28th. Wells Fargo & Company restated an “outperform” rating and set a $80.00 target price on shares of Altria Group in a research report on Monday, July 31st. Finally, Vetr upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.89 target price on the stock in a research report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently 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 on Tuesday, May 23rd. The shares were sold at an average price of $72.35, for a total value of $361,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.
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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