Wetherby Asset Management Inc. cut its position in Altria Group (NYSE:MO) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 41,331 shares of the company’s stock after selling 152 shares during the period. Wetherby Asset Management Inc.’s holdings in Altria Group were worth $3,078,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Baystate Wealth Management LLC raised its holdings in shares of Altria Group by 0.3% during the second quarter. Baystate Wealth Management LLC now owns 3,675 shares of the company’s stock valued at $270,000 after purchasing an additional 10 shares during the last quarter. Strategic Financial Group LLC raised its holdings in shares of Altria Group by 0.4% during the first quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock valued at $235,000 after purchasing an additional 14 shares during the last quarter. Lafayette Investments Inc. raised its holdings in shares of Altria Group by 0.7% during the first quarter. Lafayette Investments Inc. now owns 3,863 shares of the company’s stock valued at $276,000 after purchasing an additional 25 shares during the last quarter. AT Bancorp raised its holdings in shares of Altria Group by 0.3% during the first quarter. AT Bancorp now owns 10,545 shares of the company’s stock valued at $753,000 after purchasing an additional 29 shares during the last quarter. Finally, JJJ Advisors Inc. raised its holdings in shares of Altria Group by 0.8% during the first quarter. JJJ Advisors Inc. now owns 3,702 shares of the company’s stock valued at $264,000 after purchasing an additional 29 shares during the last quarter. 61.82% of the stock is owned by institutional investors and hedge funds.

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 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 legal filing with the SEC, which is available through the SEC website. Also, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total transaction 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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Shares of Altria Group (MO) opened at 65.00 on Friday. Altria Group has a one year low of $60.01 and a one year high of $77.79. The firm’s 50-day moving average is $63.47 and its 200-day moving average is $69.30. The stock has a market capitalization of $125.32 billion, a PE ratio of 8.57 and a beta of 0.64.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The business had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, analysts expect that Altria Group will post $3.27 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 4.06%. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date was Thursday, September 14th. Altria Group’s payout ratio is 34.83%.

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

Several research firms have recently weighed in on MO. Jefferies Group LLC reissued a “hold” rating and set a $70.00 price objective (down from $71.00) on shares of Altria Group in a report on Monday, July 17th. BidaskClub cut shares of Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Cowen and Company reissued a “hold” rating and set a $74.00 price objective on shares of Altria Group in a report on Tuesday, July 11th. Zacks Investment Research cut shares of Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Berenberg Bank set a $72.00 price objective on shares of Altria Group and gave the company a “hold” rating in a report on Sunday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $71.99.

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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