River Wealth Advisors LLC raised its position in shares of Altria Group (NYSE:MO) by 12.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,130 shares of the company’s stock after purchasing an additional 1,033 shares during the period. River Wealth Advisors LLC’s holdings in Altria Group were worth $680,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Investment Advisors Ltd. raised its stake in shares of Altria Group by 133.3% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after acquiring an additional 800 shares in the last quarter. Perigon Wealth Management LLC raised its stake in shares of Altria Group by 4.7% in the 1st quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after acquiring an additional 74 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Altria Group by 97.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after acquiring an additional 821 shares in the last quarter. Advantage Investment Management LLC raised its stake in shares of Altria Group by 1.9% in the 1st quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock valued at $125,000 after acquiring an additional 32 shares in the last quarter. Finally, American Beacon Advisors Inc. bought a new position in shares of Altria Group in the 1st quarter valued at approximately $164,000. 61.85% of the stock is owned by institutional investors.

In other Altria Group news, Director Dinyar S. Devitre sold 32,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $61.22, for a total value of $1,959,040.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Martin J. Barrington sold 15,300 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value 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 disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

Shares of Altria Group (NYSE:MO) opened at 63.57 on Tuesday. The firm has a market cap of $122.56 billion, a price-to-earnings ratio of 8.38 and a beta of 0.64. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The firm has a 50-day moving average price of $63.20 and a 200-day moving average price of $69.74.

Altria Group (NYSE:MO) last released its quarterly earnings data 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). The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a net margin of 56.98% and a return on equity of 59.50%. Altria Group’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. Equities research analysts anticipate that Altria Group will post $3.26 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be paid a $0.66 dividend. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date is Thursday, September 14th. This represents a $2.64 annualized dividend and a yield of 4.15%. Altria Group’s dividend payout ratio is currently 34.83%.

Altria Group announced that its board has initiated a stock repurchase plan on Thursday, July 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 0.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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A number of brokerages recently weighed in on MO. Vetr downgraded Altria Group from a “buy” rating to a “hold” rating and set a $80.38 price objective on the stock. 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 issued a $70.00 price objective (down from $71.00) on shares of Altria Group in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $71.57.

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)

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