Burns J W & Co. Inc. NY Has $4.57 Million Position in Altria Group Inc (MO)
Burns J W & Co. Inc. NY decreased its stake in shares of Altria Group Inc (NYSE:MO) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,988 shares of the company’s stock after selling 1,214 shares during the quarter. Altria Group comprises 1.2% of Burns J W & Co. Inc. NY’s holdings, making the stock its 29th largest position. Burns J W & Co. Inc. NY’s holdings in Altria Group were worth $4,569,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Altria Group by 2.0% during the second quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock worth $10,129,659,000 after buying an additional 2,690,270 shares in the last quarter. BlackRock Inc. lifted its position in Altria Group by 7.6% during the second quarter. BlackRock Inc. now owns 127,525,988 shares of the company’s stock worth $9,496,859,000 after buying an additional 8,969,677 shares in the last quarter. Capital World Investors lifted its position in Altria Group by 27.6% during the second quarter. Capital World Investors now owns 41,157,755 shares of the company’s stock worth $3,065,018,000 after buying an additional 8,914,575 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Altria Group by 7.6% during the third quarter. Bank of New York Mellon Corp now owns 21,970,538 shares of the company’s stock worth $1,393,372,000 after buying an additional 1,561,120 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Altria Group by 5.3% during the second quarter. Ameriprise Financial Inc. now owns 20,802,163 shares of the company’s stock worth $1,550,057,000 after buying an additional 1,040,839 shares in the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.
Shares of Altria Group Inc (MO) opened at $65.18 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.64 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $124,380.00, a price-to-earnings ratio of 12.23, a P/E/G ratio of 1.90 and a beta of 0.53. Altria Group Inc has a 1-year low of $60.01 and a 1-year high of $77.79.
Altria Group announced that its board has initiated a stock buyback plan on Thursday, February 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
A number of equities research analysts have commented on MO shares. Piper Jaffray Companies restated a “buy” rating and issued a $76.00 target price on shares of Altria Group in a research report on Friday, October 27th. Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 target price on the stock in a research report on Tuesday, October 24th. Berenberg Bank upgraded Altria Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $60.01 to $71.00 in a research report on Tuesday, December 19th. UBS Group reduced their target price on Altria Group from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Finally, Edward Jones upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Altria Group presently has a consensus rating of “Buy” and a consensus price target of $73.66.
In related news, CEO Craig A. Johnson sold 14,953 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $66.59, for a total value of $995,720.27. Following the sale, the chief executive officer now owns 64,809 shares in the company, valued at approximately $4,315,631.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP James E. Dillard III sold 6,500 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $63.13, for a total value of $410,345.00. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.
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Altria Group 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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