Brookstone Capital Management cut its holdings in Altria Group Inc (NYSE:MO) by 12.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,560 shares of the company’s stock after selling 13,596 shares during the period. Brookstone Capital Management’s holdings in Altria Group were worth $5,643,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA bought a new stake in shares of Altria Group during the 3rd quarter valued at $103,000. IMA Wealth Inc. bought a new stake in shares of Altria Group during the 2nd quarter valued at $106,000. Investment Partners LTD. bought a new stake in shares of Altria Group during the 3rd quarter valued at $4,246,000. BerganKDV Wealth Management LLC bought a new stake in shares of Altria Group during the 2nd quarter valued at $123,000. Finally, BDO Wealth Advisors LLC raised its position in shares of Altria Group by 165.5% during the 2nd quarter. BDO Wealth Advisors LLC now owns 2,222 shares of the company’s stock valued at $126,000 after purchasing an additional 1,385 shares during the period. Institutional investors and hedge funds own 63.33% of the company’s stock.
In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of Altria Group stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total value of $184,962.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.
Several analysts have recently commented on the stock. Piper Jaffray Companies set a $75.00 price objective on shares of Altria Group and gave the company a “buy” rating in a research report on Tuesday, October 23rd. ValuEngine upgraded shares of Altria Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. Citigroup raised their target price on shares of Altria Group from $59.00 to $67.00 and gave the company a “hold” rating in a research note on Friday, September 21st. Argus raised their target price on shares of Altria Group from $70.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, October 29th. Finally, Sanford C. Bernstein began coverage on shares of Altria Group in a research note on Tuesday, October 23rd. They set a “market perform” rating for the company. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Altria Group presently has an average rating of “Buy” and a consensus target price of $69.87.
MO opened at $63.42 on Friday. The firm has a market cap of $121.89 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.84 and a beta of 0.40. Altria Group Inc has a fifty-two week low of $53.91 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.60 and a quick ratio of 0.36.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 25th. The company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.01. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. As a group, research analysts predict that Altria Group Inc will post 3.99 EPS for the current year.
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Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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