Trade Report: Today, Stockman Asset Management Invests $426,000 in Altria Group (MO)

Today, Stockman Asset Management Invests $426,000 in Altria Group (MO)

Stockman Asset Management acquired a new stake in Altria Group (NYSE:MO) during the third quarter, Holdings Channel reports. The fund acquired 6,745 shares of the company’s stock, valued at approximately $426,000.

Other large investors also recently modified their holdings of the company. First PREMIER Bank acquired a new position in shares of Altria Group during the second quarter valued at about $103,000. First Personal Financial Services raised its position in shares of Altria Group by 66.3% in the second quarter. First Personal Financial Services now owns 1,603 shares of the company’s stock valued at $111,000 after buying an additional 639 shares during the period. Tortoise Investment Management LLC raised its position in shares of Altria Group by 26.6% in the second quarter. Tortoise Investment Management LLC now owns 1,654 shares of the company’s stock valued at $114,000 after buying an additional 348 shares during the period. Zions Bancorporation raised its position in shares of Altria Group by 48.4% in the second quarter. Zions Bancorporation now owns 1,971 shares of the company’s stock valued at $137,000 after buying an additional 643 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of Altria Group by 4.8% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,086 shares of the company’s stock valued at $144,000 after buying an additional 96 shares during the period. 60.91% of the stock is currently owned by institutional investors.

Shares of Altria Group (NYSE:MO) traded up 0.72% during trading on Friday, hitting $64.48. The stock had a trading volume of 3,459,396 shares. The stock has a market cap of $125.86 billion, a P/E ratio of 24.24 and a beta of 0.57. The stock’s 50 day moving average price is $63.51 and its 200-day moving average price is $65.25. Altria Group has a one year low of $56.15 and a one year high of $70.15.

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 the Zacks’ consensus estimate of $0.81 by $0.01. The business earned $6.90 billion during the quarter, compared to the consensus estimate of $5.11 billion. Altria Group had a net margin of 20.19% and a return on equity of 202.19%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 EPS. Analysts expect that Altria Group will post $3.03 earnings per share for the current fiscal year.

Several research analysts have issued reports on MO shares. Zacks Investment Research lowered Altria Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $72.40 price target for the company. in a report on Monday, August 15th. Citigroup Inc. reiterated a “buy” rating and issued a $72.00 price target on shares of Altria Group in a report on Monday, September 26th. Finally, Jefferies Group reiterated a “hold” rating and issued a $68.00 price target on shares of Altria Group in a report on Wednesday, November 16th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $69.94.

In other news, CEO Martin J. Barrington sold 15,960 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $65.85, for a total transaction of $1,050,966.00. Following the completion of the sale, the chief executive officer now owns 833,577 shares in the company, valued at approximately $54,891,045.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

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.

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