Tocqueville Asset Management L.P. lowered its position in Altria Group (NYSE:MO) by 0.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 32,266 shares of the company’s stock after selling 261 shares during the period. Tocqueville Asset Management L.P.’s holdings in Altria Group were worth $2,040,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. First PREMIER Bank acquired a new stake in shares of Altria Group during the second quarter worth $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 worth $111,000 after buying an additional 639 shares during the period. 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 worth $114,000 after buying an additional 348 shares during the period. Isthmus Partners LLC boosted its stake in shares of Altria Group by 37.8% in the third quarter. Isthmus Partners LLC now owns 1,822 shares of the company’s stock worth $114,000 after buying an additional 500 shares during the period. Finally, 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 worth $137,000 after buying an additional 643 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 midday trading on Friday, reaching $64.48. 3,459,396 shares of the company’s stock were exchanged. The company has a market capitalization of $125.86 billion, a PE ratio of 24.24 and a beta of 0.57. Altria Group has a 1-year low of $56.15 and a 1-year high of $70.15. The firm has a 50-day moving average of $63.51 and a 200-day moving average of $65.25.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 27th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm earned $6.90 billion during the quarter, compared to analysts’ expectations of $5.11 billion. Altria Group had a return on equity of 202.19% and a net margin of 20.19%. Altria Group’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share. Equities analysts expect that Altria Group will post $3.03 earnings per share for the current fiscal year.
MO has been the topic of a number of research reports. Vetr cut shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.90 target price on the stock. in a report on Tuesday, September 13th. Citigroup Inc. initiated coverage on shares of Altria Group in a report on Monday, September 12th. They set a “buy” rating and a $72.00 target price on the stock. Argus set a $73.00 price target on shares of Altria Group and gave the stock a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research report on Thursday, August 4th. Finally, Jefferies Group initiated coverage on shares of Altria Group in a research report on Wednesday, September 21st. They set a “hold” rating and a $70.00 price target for the company. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $69.94.
In other Altria Group news, CEO Martin J. Barrington sold 15,960 shares of Altria Group stock in a transaction on Monday, October 31st. The stock was sold at an average price of $65.85, for a total transaction of $1,050,966.00. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by corporate insiders.
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.