Cpcm LLC lowered its stake in shares of Altria Group (NYSE:MO) by 32.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,822 shares of the company’s stock after selling 4,301 shares during the period. Cpcm LLC’s holdings in Altria Group were worth $630,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Altria Group by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,691,362 shares of the company’s stock worth $120,797,000 after buying an additional 40,895 shares during the period. Rathbone Brothers plc boosted its stake in shares of Altria Group by 21.9% in the first quarter. Rathbone Brothers plc now owns 506,475 shares of the company’s stock worth $36,172,000 after buying an additional 91,100 shares during the period. Atlas Brown Inc. boosted its stake in shares of Altria Group by 17.8% in the first quarter. Atlas Brown Inc. now owns 5,629 shares of the company’s stock worth $402,000 after buying an additional 852 shares during the period. Fulton Bank N.A. boosted its stake in shares of Altria Group by 2.0% in the first quarter. Fulton Bank N.A. now owns 116,642 shares of the company’s stock worth $8,331,000 after buying an additional 2,300 shares during the period. Finally, Confluence Investment Management LLC boosted its stake in shares of Altria Group by 14.0% in the first quarter. Confluence Investment Management LLC now owns 4,789 shares of the company’s stock worth $342,000 after buying an additional 587 shares during the period. 62.39% of the stock is owned by institutional investors.

Altria Group (NYSE MO) traded down 0.95% on Friday, reaching $63.69. 10,210,604 shares of the company’s stock traded hands. The stock has a market capitalization of $122.79 billion, a PE ratio of 8.40 and a beta of 0.61. The firm’s 50-day moving average is $69.77 and its 200 day moving average is $72.51. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79.

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

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

COPYRIGHT VIOLATION WARNING: This article was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international trademark and copyright law. The legal version of this article can be read at https://www.thecerbatgem.com/2017/08/20/cpcm-llc-lowers-position-in-altria-group-mo.html.

MO has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Altria Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Royal Bank Of Canada upgraded shares of Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 price objective on the stock in a report on Monday, July 31st. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $79.51 price objective on the stock in a report on Monday, July 31st. Zacks Investment Research lowered shares of Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Piper Jaffray Companies set a $76.00 price objective on shares of Altria Group and gave the stock a “buy” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Altria Group currently has an average rating of “Hold” and an average target price of $72.66.

In other news, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total transaction of $994,959.00. Following the completion of the sale, the chief executive officer now owns 701,074 shares in the company, valued at approximately $45,590,842.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director George Munoz sold 5,000 shares of Altria Group stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total transaction of $361,750.00. The disclosure for this sale can be found here. Company 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.

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

Receive News & Stock Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related stocks with our FREE daily email newsletter.