Cordasco Financial Network continued to hold its stake in Altria Group (NYSE:MO) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,037 shares of the company’s stock at the end of the third quarter. Altria Group accounts for approximately 2.9% of Cordasco Financial Network’s portfolio, making the stock its 4th largest position. Cordasco Financial Network’s holdings in Altria Group were worth $2,554,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of MO. Emerald Acquisition Ltd. purchased a new position in Altria Group during the second quarter valued at approximately $233,157,000. Vanguard Group Inc. raised its position in Altria Group by 2.8% in the second quarter. Vanguard Group Inc. now owns 125,294,855 shares of the company’s stock valued at $8,640,334,000 after buying an additional 3,366,581 shares in the last quarter. Janus Capital Management LLC raised its position in Altria Group by 16.5% in the second quarter. Janus Capital Management LLC now owns 19,024,943 shares of the company’s stock valued at $1,311,960,000 after buying an additional 2,688,986 shares in the last quarter. Bank of Montreal Can purchased a new position in Altria Group during the second quarter valued at approximately $170,990,000. Finally, FMR LLC raised its position in Altria Group by 10.7% in the second quarter. FMR LLC now owns 25,539,336 shares of the company’s stock valued at $1,761,192,000 after buying an additional 2,464,718 shares in the last quarter. Institutional investors own 60.91% of the company’s stock.
Altria Group (NYSE:MO) traded up 0.72% during midday trading on Friday, reaching $64.48. 3,459,396 shares of the company traded hands. Altria Group has a one year low of $56.15 and a one year high of $70.15. The stock’s 50 day moving average is $63.51 and its 200 day moving average is $65.25. The company has a market capitalization of $125.86 billion, a price-to-earnings ratio of 24.24 and a beta of 0.57.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Altria Group had a net margin of 20.19% and a return on equity of 202.19%. The firm had revenue of $6.90 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts anticipate that Altria Group will post $3.03 earnings per share for the current year.
Several research firms have commented on MO. Argus set a $73.00 target price on shares of Altria Group and gave the company a “buy” rating in a report on Monday, August 1st. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $75.77 target price on the stock. in a report on Monday, August 1st. Zacks Investment Research lowered shares of Altria Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, Citigroup Inc. began coverage on shares of Altria Group in a report on Monday, September 12th. They issued a “buy” rating and a $72.00 target price on the stock. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $69.94.
In other news, CEO Martin J. Barrington sold 15,960 shares of the stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $65.85, for a total value of $1,050,966.00. Following the sale, the chief executive officer now directly owns 833,577 shares of the company’s stock, valued at $54,891,045.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by insiders.
About Altria Group
Altria Group, Inc is a holding company. 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 large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.