Altria Group (MO) Shares Sold by Commerce Bank
Commerce Bank trimmed its holdings in shares of Altria Group (NYSE:MO) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 764,040 shares of the company’s stock after selling 2,132 shares during the period. Commerce Bank’s holdings in Altria Group were worth $56,898,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp raised its position in Altria Group by 0.9% in the 1st quarter. State Street Corp now owns 74,624,722 shares of the company’s stock valued at $5,329,771,000 after buying an additional 687,246 shares during the last quarter. Federated Investors Inc. PA raised its position in Altria Group by 1.8% in the 2nd quarter. Federated Investors Inc. PA now owns 12,736,904 shares of the company’s stock valued at $948,518,000 after buying an additional 227,112 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Altria Group by 3.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 9,121,177 shares of the company’s stock valued at $679,255,000 after buying an additional 330,687 shares during the last quarter. Legal & General Group Plc raised its position in Altria Group by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 9,038,913 shares of the company’s stock valued at $673,135,000 after buying an additional 241,211 shares during the last quarter. Finally, Swiss National Bank raised its position in Altria Group by 25.1% in the 1st quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock valued at $534,678,000 after buying an additional 1,501,400 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.
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In related news, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $61.22, for a total transaction of $1,959,040.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.11% of the company’s stock.
A number of equities research analysts recently commented on MO shares. Stifel Nicolaus lowered their price target on Altria Group from $77.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, July 31st. Piper Jaffray Companies set a $76.00 target price on Altria Group and gave the company a “buy” rating in a research report on Thursday, July 27th. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 target price for the company. in a research report on Wednesday, September 6th. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Wednesday, October 11th. Finally, Citigroup Inc. decreased their target price on Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $72.38.
Shares of Altria Group (MO) opened at $66.42 on Monday. The stock has a market capitalization of $126,741.97, a PE ratio of 21.02, a PEG ratio of 2.71 and a beta of 0.60. 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 has a 12-month low of $60.01 and a 12-month high of $77.79.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.03. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the company posted $0.82 EPS. sell-side analysts forecast that Altria Group will post 3.28 earnings per share for the current year.
Altria Group declared that its Board of Directors has authorized a share buyback plan on Thursday, July 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 0.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
Altria Group Company 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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