Altria Group Inc (MO) Shares Bought by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. boosted its position in shares of Altria Group Inc (NYSE:MO) by 4.9% in the fourth quarter, Holdings Channel reports. The fund owned 9,828,132 shares of the company’s stock after acquiring an additional 461,358 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Altria Group were worth $701,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the business. Solaris Asset Management LLC raised its position in shares of Altria Group by 65.7% during the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after buying an additional 557 shares during the last quarter. Balentine LLC raised its position in shares of Altria Group by 32.4% during the second quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after buying an additional 357 shares during the last quarter. Oak Point Wealth Management acquired a new position in shares of Altria Group during the fourth quarter valued at about $120,000. INR Advisory Services LLC acquired a new position in shares of Altria Group during the second quarter valued at about $134,000. Finally, Quantum Capital Management LLC NJ acquired a new position in shares of Altria Group during the third quarter valued at about $114,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

Altria Group Inc (NYSE MO) opened at $65.18 on Thursday. Altria Group Inc has a 52-week low of $60.01 and a 52-week high of $77.79. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.64 and a quick ratio of 0.31. The stock has a market cap of $124,380.00, a PE ratio of 12.23, a P/E/G ratio of 1.90 and a beta of 0.53.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.11. The firm had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 earnings per share. analysts expect that Altria Group Inc will post 4 EPS for the current fiscal year.

Altria Group announced that its Board of Directors has authorized a stock buyback program on Thursday, February 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

A number of brokerages have recently commented on MO. Berenberg Bank raised shares of Altria Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $60.01 to $71.00 in a research report on Tuesday, December 19th. Vetr lowered shares of Altria Group from a “hold” rating to a “sell” rating and set a $67.97 price objective for the company. in a research report on Monday, December 11th. Zacks Investment Research lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Wells Fargo & Co increased their price target on shares of Altria Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Finally, Piper Jaffray Companies increased their price target on shares of Altria Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $73.66.

In other Altria Group news, CEO Craig A. Johnson sold 14,953 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $66.59, for a total transaction of $995,720.27. Following the sale, the chief executive officer now directly owns 64,809 shares of the company’s stock, valued at $4,315,631.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James E. Dillard III sold 6,500 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $63.13, for a total transaction of $410,345.00. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.

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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.

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

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