Altria Group (MO) Position Lifted by Essex Financial Services Inc.
Essex Financial Services Inc. increased its holdings in Altria Group (NYSE:MO) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,128 shares of the company’s stock after acquiring an additional 692 shares during the quarter. Altria Group makes up 1.3% of Essex Financial Services Inc.’s portfolio, making the stock its 16th biggest position. Essex Financial Services Inc.’s holdings in Altria Group were worth $5,967,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. Baystate Wealth Management LLC lifted its stake in shares of Altria Group by 0.3% in the second quarter. Baystate Wealth Management LLC now owns 3,675 shares of the company’s stock worth $270,000 after acquiring an additional 10 shares in the last quarter. Strategic Financial Group LLC lifted its stake in shares of Altria Group by 0.4% in the first quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock worth $235,000 after acquiring an additional 14 shares in the last quarter. Lafayette Investments Inc. lifted its stake in shares of Altria Group by 0.7% in the first quarter. Lafayette Investments Inc. now owns 3,863 shares of the company’s stock worth $276,000 after acquiring an additional 25 shares in the last quarter. AT Bancorp lifted its stake in shares of Altria Group by 0.3% in the first quarter. AT Bancorp now owns 10,545 shares of the company’s stock worth $753,000 after acquiring an additional 29 shares in the last quarter. Finally, JJJ Advisors Inc. lifted its stake in shares of Altria Group by 0.8% in the first quarter. JJJ Advisors Inc. now owns 3,702 shares of the company’s stock worth $264,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 62.30% of the company’s stock.
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Altria Group (MO) opened at $65.02 on Friday. The company has a market capitalization of $123,097.34, a P/E ratio of 20.42, a PEG ratio of 2.64 and a beta of 0.60. Altria Group has a fifty-two week low of $60.01 and a fifty-two week high of $77.79. The company has a current ratio of 0.77, a quick ratio of 0.48 and a debt-to-equity ratio of 1.14.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 26th. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.03. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. sell-side analysts predict that Altria Group will post 3.28 EPS for the current fiscal year.
Altria Group declared that its board has approved a stock buyback plan 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 plans are usually a sign that the company’s management believes its shares are undervalued.
Several research firms recently commented on MO. Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price target on the stock in a research note on Monday, November 6th. Zacks Investment Research cut Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Edward Jones raised Altria Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. Berenberg Bank reissued a “hold” rating on shares of Altria Group in a report on Tuesday, October 31st. Finally, Citigroup Inc. lowered their price objective on Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Altria Group has a consensus rating of “Buy” and an average target price of $72.06.
In other news, Director Dinyar S. Devitre sold 32,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $61.22, for a total transaction of $1,959,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by corporate insiders.
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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