Glassman Wealth Services cut its holdings in shares of Altria Group (NYSE:MO) by 31.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,363 shares of the company’s stock after selling 1,062 shares during the quarter. Glassman Wealth Services’ holdings in Altria Group were worth $176,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Swiss National Bank boosted its holdings in Altria Group by 25.1% in the 1st quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock valued at $534,678,000 after purchasing an additional 1,501,400 shares during the last quarter. Karp Capital Management Corp acquired a new position in Altria Group in the 1st quarter valued at about $104,292,000. Prudential Financial Inc. boosted its holdings in Altria Group by 26.6% in the 2nd quarter. Prudential Financial Inc. now owns 4,957,386 shares of the company’s stock valued at $369,177,000 after purchasing an additional 1,040,250 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Altria Group by 20.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,586,398 shares of the company’s stock valued at $341,549,000 after purchasing an additional 787,000 shares during the last quarter. Finally, State Street Corp boosted its holdings in Altria Group by 0.9% in the 1st quarter. State Street Corp now owns 74,624,722 shares of the company’s stock valued at $5,329,771,000 after purchasing an additional 687,246 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.
Several research firms have weighed in on MO. Berenberg Bank reiterated a “hold” rating on shares of Altria Group in a report on Tuesday, October 31st. UBS AG decreased their target price on shares of Altria Group from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Cowen Inc reiterated a “hold” rating on shares of Altria Group in a report on Sunday, September 10th. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 target price on the stock in a report on Tuesday, October 24th. Finally, Stifel Nicolaus decreased their target price on shares of Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $72.38.
In other news, Director Dinyar S. Devitre sold 32,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total value of $1,959,040.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.
Shares of Altria Group (NYSE MO) opened at $65.48 on Friday. The stock has a market cap of $124,948.28, a P/E ratio of 20.72, a PEG ratio of 2.67 and a beta of 0.60. Altria Group has a 52 week low of $60.01 and a 52 week high of $77.79. The company has a quick ratio of 0.48, a current ratio of 0.77 and a debt-to-equity ratio of 1.14.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. sell-side analysts anticipate that Altria Group will post 3.28 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by Transcript Daily and is owned by of Transcript Daily. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://transcriptdaily.com/2017/11/26/glassman-wealth-services-sells-1062-shares-of-altria-group-mo.html.
Altria Group Company Profile
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. 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 cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group (NYSE:MO).
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.