Banced Corp buys $1,460,835 stake in Altria Group Inc (MO)

Altria Group Inc (MO) : Banced Corp scooped up 464 additional shares in Altria Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 12, 2016. The investment management firm now holds a total of 21,147 shares of Altria Group Inc which is valued at $1,460,835.Altria Group Inc makes up approximately 2.54% of Banced Corp’s portfolio.

Other Hedge Funds, Including , Factory Mutual Insurance Co reduced its stake in MO by selling 18,000 shares or 2.75% in the most recent quarter. The Hedge Fund company now holds 637,600 shares of MO which is valued at $44,045,408. Altria Group Inc makes up approx 0.57% of Factory Mutual Insurance Co’s portfolio.Washington Trust Bank boosted its stake in MO in the latest quarter, The investment management firm added 773 additional shares and now holds a total of 15,796 shares of Altria Group Inc which is valued at $1,103,035. Altria Group Inc makes up approx 0.28% of Washington Trust Bank’s portfolio.

Altria Group Inc opened for trading at $69.17 and hit $69.48 on the upside on Friday, eventually ending the session at $69.41, with a gain of 0.71% or 0.49 points. The heightened volatility saw the trading volume jump to 57,14,120 shares. Company has a market cap of $135,795 M.

On the company’s financial health, Altria Group Inc reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.68. The company had revenue of $3923.00 million for the quarter, compared to analysts expectations of $4423.15 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on Altria Group Inc. Company shares were Reiterated by Stifel on Jun 27, 2016 to “Buy”, Firm has raised the Price Target to $ 71 from a previous price target of $65 .Berenberg Initiated Altria Group Inc on Jun 14, 2016 to “Buy”, Price Target of the shares are set at $74.

Altria Group Inc. is a holding company. The Company’s reportable segments include smokeable products smokeless products and wine. As of December 31 2014 Altria Group Inc.’s wholly owned subsidiaries included 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 large cigars and pipe tobacco and is a wholly owned subsidiary of PM USA and UST LLC (UST) which through its wholly owned subsidiaries including U.S. Smokeless Tobacco Company LLC (USSTC) and Ste. Michelle Wine Estates Ltd. (Ste. Michelle) is engaged in the manufacture and sale of smokeless products and wine.

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