Eagle Asset Management Inc. Sells 167,080 Shares of Altria Group (MO)
Eagle Asset Management Inc. cut its stake in shares of Altria Group (NYSE:MO) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,564,259 shares of the company’s stock after selling 167,080 shares during the quarter. Altria Group makes up 0.7% of Eagle Asset Management Inc.’s portfolio, making the stock its 18th largest holding. Eagle Asset Management Inc. owned about 0.08% of Altria Group worth $116,490,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Altria Group by 0.9% during the first quarter. State Street Corp now owns 74,624,722 shares of the company’s stock valued at $5,329,771,000 after purchasing an additional 687,246 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of Altria Group by 1.8% during the second quarter. Federated Investors Inc. PA now owns 12,736,904 shares of the company’s stock valued at $948,518,000 after purchasing an additional 227,112 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Altria Group by 3.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 9,121,177 shares of the company’s stock valued at $679,255,000 after purchasing an additional 330,687 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Altria Group by 2.7% during the second quarter. Legal & General Group Plc now owns 9,038,913 shares of the company’s stock valued at $673,135,000 after purchasing an additional 241,211 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Altria Group by 25.1% during the first quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock valued at $534,678,000 after purchasing an additional 1,501,400 shares during the last quarter. 62.37% of the stock is owned by institutional investors.
In other Altria Group 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 value of $1,959,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.
MO has been the subject of a number of recent analyst reports. Berenberg Bank set a $72.00 price objective on Altria Group and gave the stock a “hold” rating in a report on Sunday, August 6th. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price objective for the company. in a report on Wednesday, September 6th. Royal Bank Of Canada reissued a “hold” rating and issued a $62.00 price objective on shares of Altria Group in a report on Tuesday, October 3rd. Jefferies Group LLC set a $72.00 price objective on Altria Group and gave the stock a “hold” rating in a report on Friday. Finally, BidaskClub raised Altria Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. 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. Altria Group has an average rating of “Hold” and a consensus price target of $72.38.
Shares of Altria Group (NYSE MO) opened at $65.83 on Tuesday. The firm has a market capitalization of $125,590.00, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 2.71 and a beta of 0.60. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79.
Altria Group (NYSE:MO) last released its earnings results on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share. equities analysts predict that Altria Group will post 3.28 EPS for the current fiscal year.
Altria Group announced that its board has authorized a share repurchase program on Thursday, July 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 0.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors 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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