Altria Group, Inc. (NYSE:MO) tumbled -3.85% year-to-date. Legal & General Group Plc bought 241,211 shares as the company's stock declined 2.84% while stock markets rallied. Comerica Bank's holdings in Altria Group were worth $46,121,000 as of its most recent SEC filing. State Street Corp raised its position in Altria Group by 0.9% in the 1st quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company's stock valued at $118,000 after purchasing an additional 74 shares during the last quarter.
More notable recent Altria Group Inc (NYSE:MO) news were published by: Seekingalpha.com which released: "Altria Group: Growth, Value, Income" on October 16, 2017, also Seekingalpha.com with their article: "This Is Why You Want To Own Altria" published on October 30, 2017, Seekingalpha.com published: "Altria Group (MO) Q3 2017 Results - Earnings Call Transcript" on October 26, 2017. The value of the investment in Altria Group decreased from $30,870,000 to $26,567,000 a change of 13.9% for the reporting period. Risk Paradigm Group, LLC grew its ownership by buying 200 shares an increase of 11.7% as of 09/30/2017.
Altria Group announced that its Board of Directors has initiated a stock repurchase program on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. Community Bank N.A. lifted its stake in Altria Group by 22.6% in the second quarter.
As of the end of the quarter Amalgamated Bank had acquired 4,856 shares growing its holdings by 2.2%. Institutional investors own 62.29% of the company's stock.
A number of equities research analysts recently commented on MO shares. Arcadia Inv Mgmt Mi holds 0.03% of its portfolio in Altria Group Inc (NYSE:MO) for 1,100 shares. Jefferies Group LLC reiterated a hold rating and set a $70.00 target price (down from $71.00) on shares of Altria Group in a research report on Monday, July 17th. BidaskClub cut Altria Group from a "sell" rating to a "strong sell" rating in a research note on Monday, July 24th. The stock of Altria Group Inc (NYSE:MO) earned "Buy" rating by Wells Fargo on Friday, August 11. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. $69.34's average target is 4.93% above currents $66.08 stock price.
TRADEMARK VIOLATION NOTICE: This story was reported by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are accessing this piece on another site, it was stolen and republished in violation of United States and worldwide copyright law. The legal version of this report can be read at https://weekherald.com/2017/11/15/piper-jaffray-companies-reaffirms-buy-rating-for-altria-group-mo.html. (NYSE:MO) to $76.00 indicating a possible upside of 0.02%. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.48 and a current ratio of 0.77. Altria Group has a 52 week low of $60.01 and a 52 week high of $77.79. The company has a market capitalization of $124,070.50, a price-to-earnings ratio of 20.58, a P/E/G ratio of 2.66 and a beta of 0.60.
Analysts await Altria Group Inc (NYSE:MO) to report earnings on February, 7. The company reported $0.90 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.87 by $0.03. The firm had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.22 billion. The company's revenue for the quarter was down 1.8% compared to the same quarter past year. This repurchase authorization authorizes the company to reacquire up to 0.7% of its shares through open market purchases.
In other news, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction on Thursday, September 21st. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued. The stock was sold at an average price of $65.85, for a total value of $1,050,966.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Berkshire Asset Mgmt Limited Liability Company Pa holds 0.4% of its portfolio in Altria Group Inc (NYSE:MO) for 47,609 shares. The Company's geographical divisions are Europe; North America, which includes North America/Home Medical Equipment and Institutional Products Group (IPG) divisions, and Asia/Pacific. 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. (NYSE:MO), 13 have Buy rating, 0 Sell and 6 Hold.