Birmingham Capital Management Co. Inc. AL lowered its position in Altria Group (NYSE:MO) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,738 shares of the company’s stock after selling 300 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Altria Group were worth $2,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lyell Wealth Management LP boosted its stake in shares of Altria Group by 2.7% during the second quarter. Lyell Wealth Management LP now owns 7,403 shares of the company’s stock valued at $556,000 after purchasing an additional 193 shares during the period. Lee Financial Co boosted its stake in shares of Altria Group by 1.1% during the second quarter. Lee Financial Co now owns 23,461 shares of the company’s stock valued at $1,747,000 after purchasing an additional 263 shares during the period. CAPROCK Group Inc. boosted its stake in shares of Altria Group by 114.9% during the second quarter. CAPROCK Group Inc. now owns 20,593 shares of the company’s stock valued at $1,546,000 after purchasing an additional 11,009 shares during the period. Lourd Capital LLC boosted its stake in shares of Altria Group by 6.5% during the second quarter. Lourd Capital LLC now owns 6,979 shares of the company’s stock valued at $520,000 after purchasing an additional 426 shares during the period. Finally, Heritage Wealth Advisors boosted its stake in shares of Altria Group by 4.7% during the second quarter. Heritage Wealth Advisors now owns 75,037 shares of the company’s stock valued at $5,587,000 after purchasing an additional 3,378 shares during the period. 61.85% of the stock is owned by institutional investors and hedge funds.

Altria Group (NYSE MO) opened at 62.55 on Friday. The company’s 50 day moving average price is $63.20 and its 200-day moving average price is $69.90. The company has a market cap of $120.60 billion, a P/E ratio of 8.25 and a beta of 0.64. Altria Group has a one year low of $60.01 and a one year high of $77.79.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the previous year, the firm earned $0.81 EPS. Altria Group’s revenue was up 3.2% compared to the same quarter last year. On average, analysts forecast that Altria Group will post $3.26 EPS for the current fiscal year.

Altria Group declared that its board has initiated a share buyback plan 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 plans are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.64 dividend on an annualized basis and a yield of 4.22%. This is a boost from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s payout ratio is presently 34.83%.

A number of research firms have recently weighed in on MO. Vetr lowered Altria Group from a “buy” rating to a “hold” rating and set a $80.38 price objective for the company. in a research note on Monday, June 19th. BidaskClub raised Altria Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. Cowen and Company set a $78.00 price objective on Altria Group and gave the company a “hold” rating in a research note on Friday, July 28th. Piper Jaffray Companies set a $76.00 price objective on Altria Group and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $70.00 price objective (down previously from $71.00) on shares of Altria Group in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $71.57.

In related 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 transaction of $994,959.00. Following the completion of the transaction, the chief executive officer now owns 701,074 shares in the company, valued at approximately $45,590,842.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dinyar S. Devitre sold 32,000 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total value of $1,959,040.00. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.

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Altria Group 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.

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

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