Trade Report: The First Mercantile Trust Co. sells partial stakes of Altria Group (MO)

The First Mercantile Trust Co. sells partial stakes of Altria Group (MO)

First Mercantile Trust Co. lowered its stake in Altria Group (NYSE:MO) by 33.7% during the third quarter, Holdings Channel reports. The institutional investor owned 13,148 shares of the company’s stock after selling 6,682 shares during the period. First Mercantile Trust Co.’s holdings in Altria Group were worth $832,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First PREMIER Bank acquired a new stake in shares of Altria Group during the second quarter valued at approximately $103,000. First Personal Financial Services boosted its stake 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 last quarter. Tortoise Investment Management LLC boosted its stake 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 last quarter. Zions Bancorporation boosted its stake 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 last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake 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 last quarter. 60.91% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group (NYSE:MO) traded up 0.72% during trading on Friday, reaching $64.48. The company’s stock had a trading volume of 3,459,396 shares. The company has a market cap of $125.86 billion, a P/E ratio of 24.24 and a beta of 0.57. Altria Group has a 12 month low of $56.15 and a 12 month high of $70.15. The stock’s 50-day moving average is $63.51 and its 200 day moving average is $65.25.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $6.90 billion for the quarter, compared to analyst estimates of $5.11 billion. Altria Group had a net margin of 20.19% and a return on equity of 202.19%. Altria Group’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. On average, equities analysts forecast that Altria Group will post $3.03 EPS for the current fiscal year.

MO has been the subject of a number of recent analyst reports. Vetr cut shares of Altria Group from a “buy” rating to a “hold” rating and set a $68.29 price objective for the company. in a research report on Tuesday, November 1st. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $68.00 price objective (down previously from $69.00) on shares of Altria Group in a research report on Saturday, October 15th. Citigroup Inc. restated a “buy” rating and issued a $72.00 price objective on shares of Altria Group in a research report on Monday, September 26th. lowered their price objective on shares of Altria Group from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, September 15th. Finally, Zacks Investment Research cut shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Altria Group currently has an average rating of “Buy” and a consensus price target of $69.94.

In other news, CEO Martin J. Barrington sold 15,960 shares of Altria Group stock in a transaction 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 transaction, the chief executive officer now owns 833,577 shares in the company, valued at $54,891,045.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

Altria Group Company Profile

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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