Garrett Wealth Advisory Group LLC Takes $152,000 Position in Altria Group Inc (NYSE:MO)

Garrett Wealth Advisory Group LLC bought a new position in shares of Altria Group Inc (NYSE:MO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,706 shares of the company’s stock, valued at approximately $152,000.

Several other hedge funds have also modified their holdings of the company. Nuveen Asset Management LLC raised its position in shares of Altria Group by 584.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 8,679,362 shares of the company’s stock worth $410,968,000 after buying an additional 7,411,523 shares during the period. AQR Capital Management LLC raised its position in shares of Altria Group by 74.0% in the 2nd quarter. AQR Capital Management LLC now owns 4,727,202 shares of the company’s stock worth $223,833,000 after buying an additional 2,010,023 shares during the period. Natixis raised its position in shares of Altria Group by 428.3% in the 2nd quarter. Natixis now owns 1,846,808 shares of the company’s stock worth $87,447,000 after buying an additional 1,497,259 shares during the period. Toronto Dominion Bank raised its position in shares of Altria Group by 73.2% in the 2nd quarter. Toronto Dominion Bank now owns 2,428,023 shares of the company’s stock worth $114,938,000 after buying an additional 1,026,362 shares during the period. Finally, Morgan Stanley raised its position in Altria Group by 11.0% in the second quarter. Morgan Stanley now owns 8,811,852 shares of the company’s stock valued at $417,241,000 after purchasing an additional 870,944 shares during the period. 63.27% of the stock is owned by institutional investors and hedge funds.

Several research analysts have commented on MO shares. Royal Bank of Canada set a $68.00 price objective on Altria Group and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Co reaffirmed a “buy” rating on shares of Altria Group in a research report on Monday, August 26th. TheStreet lowered Altria Group from a “b-” rating to a “c+” rating in a research report on Wednesday, August 14th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Altria Group in a research report on Tuesday, October 15th. Finally, Cowen reaffirmed a “hold” rating on shares of Altria Group in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Altria Group has an average rating of “Hold” and an average target price of $54.35.

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 company has a debt-to-equity ratio of 2.53, a current ratio of 0.56 and a quick ratio of 0.27. The stock’s 50 day simple moving average is $43.42 and its two-hundred day simple moving average is $47.52. Altria Group Inc has a 1-year low of $39.30 and a 1-year high of $66.04. The company has a market capitalization of $86.40 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.72 and a beta of 0.41.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.04. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.34 billion. Altria Group had a return on equity of 56.17% and a net margin of 7.00%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. Sell-side analysts anticipate that Altria Group Inc will post 4.21 EPS for the current fiscal year.

Altria Group announced that its Board of Directors has approved a stock buyback program on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 1.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

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.

See Also: What is the significance of the death cross?

Institutional Ownership by Quarter 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.