Brightworth acquired a new position in Altria Group (NYSE:MO) during the second quarter, Holdings Channel reports. The firm acquired 3,268 shares of the company’s stock, valued at approximately $243,000. Altria Group makes up about 0.1% of Brightworth’s portfolio, making the stock its 27th largest position.

Several other hedge funds have also made changes to their positions in MO. Acropolis Investment Management LLC raised its stake in Altria Group by 0.3% in the first quarter. Acropolis Investment Management LLC now owns 1,939 shares of the company’s stock valued at $138,000 after buying an additional 5 shares during the period. Mascoma Wealth Management LLC raised its stake in Altria Group by 0.3% in the first quarter. Mascoma Wealth Management LLC now owns 2,701 shares of the company’s stock valued at $193,000 after buying an additional 8 shares during the period. HM Capital Management LLC raised its stake in Altria Group by 0.3% in the first quarter. HM Capital Management LLC now owns 3,435 shares of the company’s stock valued at $245,000 after buying an additional 9 shares during the period. Baystate Wealth Management LLC raised its stake in Altria Group by 0.3% in the second quarter. Baystate Wealth Management LLC now owns 3,675 shares of the company’s stock valued at $270,000 after buying an additional 10 shares during the period. Finally, Strategic Financial Group LLC raised its stake in Altria Group by 0.4% in the first quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock valued at $235,000 after buying an additional 14 shares during the period. 62.39% of the stock is currently owned by institutional investors and hedge funds.

Shares of Altria Group (NYSE:MO) traded down 0.47% during trading on Friday, hitting $64.00. 3,408,012 shares of the stock traded hands. The stock has a market cap of $123.39 billion, a price-to-earnings ratio of 8.44 and a beta of 0.61. Altria Group has a 1-year low of $60.01 and a 1-year high of $77.79. The stock has a 50 day moving average price of $70.07 and a 200-day moving average price of $72.56.

Altria Group (NYSE:MO) last released its earnings results on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.01. The business had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 earnings per share. Equities analysts forecast that Altria Group will post $3.26 EPS for the current year.

Altria Group announced that its board has approved a share buyback program on Thursday, July 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 0.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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Several analysts have issued reports on MO shares. Vetr raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.89 price target on the stock in a research report on Monday, April 24th. Zacks Investment Research lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Wells Fargo & Company reaffirmed an “outperform” rating and set a $80.00 price target on shares of Altria Group in a research report on Monday, July 31st. BidaskClub raised shares of Altria Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Finally, Royal Bank Of Canada reaffirmed a “sell” rating and set a $62.00 price target on shares of Altria Group in a research report on Friday, May 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $72.66.

In other news, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction of $994,959.00. Following the sale, the chief executive officer now directly owns 701,074 shares in the company, valued at approximately $45,590,842.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George Munoz sold 5,000 shares of Altria Group stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total value of $361,750.00. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

About Altria Group

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

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