Excalibur Management Corp decreased its stake in Altria Group (NYSE:MO) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,457 shares of the company’s stock after selling 110 shares during the period. Altria Group makes up 1.0% of Excalibur Management Corp’s investment portfolio, making the stock its 29th largest position. Excalibur Management Corp’s holdings in Altria Group were worth $1,077,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MO. Sterling Investment Advisors Ltd. raised its stake in shares of Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after buying an additional 800 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Altria Group by 4.7% in the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after buying an additional 74 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of Altria Group by 97.4% in the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after buying an additional 821 shares during the last quarter. Advantage Investment Management LLC raised its stake in shares of Altria Group by 1.9% in the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock valued at $125,000 after buying an additional 32 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new stake in shares of Altria Group during the first quarter valued at approximately $134,000. Hedge funds and other institutional investors own 61.89% of the company’s stock.

Altria Group (NYSE:MO) traded up 0.16% during trading on Tuesday, reaching $64.03. 1,874,026 shares of the company were exchanged. The firm has a 50-day moving average of $68.44 and a 200-day moving average of $72.24. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79. The firm has a market cap of $123.45 billion, a price-to-earnings ratio of 8.44 and a beta of 0.61.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.37 billion during 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 was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 earnings per share. On average, equities analysts forecast that Altria Group will post $3.26 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.13%. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Thursday, September 14th. Altria Group’s payout ratio is presently 32.19%.

Altria Group declared that its board has approved a stock buyback program on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 0.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

COPYRIGHT VIOLATION WARNING: This story was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The correct version of this story can be read at https://www.thecerbatgem.com/2017/08/29/excalibur-management-corp-decreases-stake-in-altria-group-mo.html.

Several brokerages have commented on MO. BidaskClub lowered shares of Altria Group from a “sell” rating to a “strong sell” rating in a research note on Friday. Jefferies Group LLC set a $67.00 price objective on shares of Altria Group and gave the company a “hold” rating in a research note on Thursday, August 24th. UBS AG reiterated a “hold” rating on shares of Altria Group in a research note on Tuesday, August 8th. Berenberg Bank set a $72.00 price objective on shares of Altria Group and gave the company a “hold” rating in a research note on Sunday, August 6th. Finally, Zacks Investment Research upgraded shares of Altria Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. 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 given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $72.47.

In other news, CEO Martin J. Barrington sold 15,300 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the transaction, the chief executive officer now directly owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

Altria Group Company Profile

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.

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group (NYSE:MO).

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.