Woodley Farra Manion Portfolio Management Inc. lessened its holdings in Altria Group Inc (NYSE:MO) by 2.1% during the third quarter, HoldingsChannel reports. The firm owned 49,111 shares of the company’s stock after selling 1,056 shares during the quarter. Woodley Farra Manion Portfolio Management Inc.’s holdings in Altria Group were worth $2,962,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of MO. Cognios Capital LLC boosted its holdings in shares of Altria Group by 11.2% in the 2nd quarter. Cognios Capital LLC now owns 37,187 shares of the company’s stock valued at $2,110,000 after purchasing an additional 3,751 shares in the last quarter. Capital Advantage Inc. acquired a new stake in shares of Altria Group in the 2nd quarter valued at $210,000. IMA Wealth Inc. bought a new position in shares of Altria Group in the 2nd quarter valued at $106,000. Oak Asset Management LLC lifted its stake in shares of Altria Group by 13.9% in the 2nd quarter. Oak Asset Management LLC now owns 22,447 shares of the company’s stock valued at $1,275,000 after acquiring an additional 2,734 shares during the last quarter. Finally, NuWave Investment Management LLC bought a new position in shares of Altria Group in the 2nd quarter valued at $338,000. 64.49% of the stock is currently owned by hedge funds and other institutional investors.
MO has been the subject of a number of research reports. ValuEngine upgraded Altria Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th. Jefferies Financial Group cut Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a research note on Friday, August 24th. Bank of America set a $70.00 price target on Altria Group and gave the company a “buy” rating in a research note on Thursday, September 13th. Citigroup increased their price target on Altria Group from $59.00 to $67.00 and gave the company a “hold” rating in a research note on Friday, September 21st. Finally, Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $68.08.
NYSE:MO traded down $1.33 during trading hours on Wednesday, hitting $54.40. 12,124,666 shares of the company were exchanged, compared to its average volume of 9,894,906. The firm has a market cap of $103.03 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.63 and a beta of 0.37. The company has a quick ratio of 0.36, a current ratio of 0.60 and a debt-to-equity ratio of 0.77. Altria Group Inc has a one year low of $52.90 and a one year high of $74.38.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 25th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.22 billion. Altria Group had a return on equity of 48.31% and a net margin of 42.13%. As a group, equities research analysts expect that Altria Group Inc will post 3.99 EPS for the current year.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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