Optimum Investment Advisors Cuts Stake in Altria Group Inc (NYSE:MO)

Optimum Investment Advisors reduced its holdings in shares of Altria Group Inc (NYSE:MO) by 8.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,630 shares of the company’s stock after selling 800 shares during the quarter. Optimum Investment Advisors’ holdings in Altria Group were worth $353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vigilant Capital Management LLC boosted its position in shares of Altria Group by 140.3% during the 3rd quarter. Vigilant Capital Management LLC now owns 704 shares of the company’s stock valued at $29,000 after purchasing an additional 411 shares in the last quarter. HMS Capital Management LLC bought a new position in Altria Group during the second quarter valued at $41,000. Salomon & Ludwin LLC boosted its holdings in shares of Altria Group by 189.0% in the second quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock worth $41,000 after acquiring an additional 567 shares during the period. Titan Capital Management LLC CA bought a new stake in Altria Group during the second quarter valued at $44,000. Finally, Perkins Coie Trust Co raised its position in Altria Group by 214.0% during the second quarter. Perkins Coie Trust Co now owns 967 shares of the company’s stock valued at $46,000 after purchasing an additional 659 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. Altria Group Inc has a 1 year low of $39.30 and a 1 year high of $66.04. The stock has a market cap of $86.40 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.72 and a beta of 0.41. The company has a fifty day moving average price of $43.42 and a 200 day moving average price of $47.52. 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 (NYSE:MO) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.34 billion. Altria Group had a net margin of 7.00% and a return on equity of 56.17%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 EPS. As a group, equities research analysts expect that Altria Group Inc will post 4.21 earnings per share for the current year.

Altria Group announced that its board has approved a stock repurchase program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 1.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have weighed in on MO shares. Stifel Nicolaus restated a “buy” rating on shares of Altria Group in a research report on Tuesday, October 15th. TheStreet downgraded Altria Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. Royal Bank of Canada set a $68.00 price objective on Altria Group and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America set a $54.00 price objective on Altria Group and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Citigroup boosted their price target on Altria Group from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $54.35.

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

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