Flagship Harbor Advisors LLC Has $1.19 Million Holdings in Altria Group (MO)
Flagship Harbor Advisors LLC boosted its holdings in Altria Group (NYSE:MO) by 4.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,164 shares of the company’s stock after purchasing an additional 729 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Altria Group were worth $1,188,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of MO. Sterling Investment Advisors Ltd. increased its holdings in Altria Group by 133.3% in the 1st 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 during the period. Solaris Asset Management LLC increased its holdings in Altria Group by 65.7% in the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after buying an additional 557 shares during the period. CKW Financial Group bought a new position in Altria Group in the 2nd quarter valued at about $109,000. Perigon Wealth Management LLC increased its holdings in Altria Group by 4.7% in the 1st 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 during the period. Finally, Proficio Capital Partners LLC increased its holdings in Altria Group by 97.4% in the 1st 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 during the period. Institutional investors and hedge funds own 62.37% of the company’s stock.
MO has been the topic of several recent analyst reports. Stifel Nicolaus decreased 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. Piper Jaffray Companies set a $76.00 target price on shares of Altria Group and gave the company a “buy” rating in a report on Thursday, July 27th. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 target price on the stock. in a report on Wednesday, September 6th. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Wednesday, October 11th. Finally, Citigroup Inc. decreased their price target on shares of Altria Group from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Altria Group presently has an average rating of “Hold” and a consensus price target of $72.38.
In related news, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total transaction of $1,959,040.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.11% of the company’s stock.
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Shares of Altria Group (NYSE:MO) opened at $65.49 on Friday. The stock has a market cap of $124,967.35, a P/E ratio of 20.73, a P/E/G ratio of 2.68 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 1-year low of $60.01 and a 1-year high of $77.79.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. research analysts anticipate that Altria Group will post 3.28 earnings per share for the current fiscal year.
Altria Group announced that its board has authorized a share buyback program on Thursday, July 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 0.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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