Principle Wealth Partners LLC Boosts Position in Altria Group Inc (NYSE:MO)

Principle Wealth Partners LLC boosted its position in shares of Altria Group Inc (NYSE:MO) by 22.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,854 shares of the company’s stock after purchasing an additional 2,373 shares during the quarter. Principle Wealth Partners LLC’s holdings in Altria Group were worth $526,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MO. Farmers Trust Co. increased its position in Altria Group by 2.3% in the 3rd quarter. Farmers Trust Co. now owns 9,526 shares of the company’s stock valued at $390,000 after acquiring an additional 216 shares during the period. Dividend Assets Capital LLC raised its holdings in Altria Group by 3.1% during the third quarter. Dividend Assets Capital LLC now owns 7,264 shares of the company’s stock valued at $297,000 after buying an additional 216 shares in the last quarter. Waters Parkerson & CO. LLC increased its stake in Altria Group by 0.3% during the second quarter. Waters Parkerson & CO. LLC now owns 73,348 shares of the company’s stock valued at $3,473,000 after acquiring an additional 225 shares during the period. Outlook Wealth Advisors LLC increased its stake in Altria Group by 2.6% during the second quarter. Outlook Wealth Advisors LLC now owns 9,006 shares of the company’s stock valued at $426,000 after acquiring an additional 225 shares during the period. Finally, YorkBridge Wealth Partners LLC lifted its holdings in Altria Group by 4.4% during the 3rd quarter. YorkBridge Wealth Partners LLC now owns 5,538 shares of the company’s stock worth $227,000 after buying an additional 233 shares in the last quarter. Institutional investors and hedge funds own 63.27% of the company’s stock.

NYSE:MO traded up $0.43 during mid-day trading on Friday, reaching $46.41. The stock had a trading volume of 5,522,956 shares, compared to its average volume of 10,315,709. The stock has a 50-day simple moving average of $43.42 and a two-hundred day simple moving average of $47.52. The stock has a market capitalization of $86.40 billion, a PE ratio of 11.63, a P/E/G ratio of 1.72 and a beta of 0.41. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.56 and a quick ratio of 0.27. Altria Group Inc has a 12 month low of $39.30 and a 12 month high of $66.04.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Altria Group had a net margin of 7.00% and a return on equity of 56.17%. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same quarter last year, the business posted $1.08 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts expect that Altria Group Inc will post 4.21 EPS for the current year.

Altria Group announced that its Board of Directors has authorized a share repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

A number of analysts recently commented on MO shares. TheStreet cut shares of Altria Group from a “b-” rating to a “c+” rating in a research report on Wednesday, August 14th. Barclays set a $50.00 price target on shares of Altria Group and gave the company a “buy” rating in a report on Tuesday, October 8th. Cowen reissued a “hold” rating on shares of Altria Group in a report on Thursday, September 12th. Citigroup raised their target price on shares of Altria Group from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Bank of America set a $54.00 target price on shares of Altria Group and gave the stock a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. Altria Group presently has a consensus rating of “Hold” and an average price target of $54.35.

Altria Group 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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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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