ProVise Management Group LLC lowered its stake in shares of Altria Group Inc (NYSE:MO) by 50.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,158 shares of the company’s stock after selling 4,229 shares during the period. ProVise Management Group LLC’s holdings in Altria Group were worth $251,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Pekin Singer Strauss Asset Management IL raised its holdings in shares of Altria Group by 9.9% in the 2nd quarter. Pekin Singer Strauss Asset Management IL now owns 9,510 shares of the company’s stock valued at $540,000 after purchasing an additional 859 shares in the last quarter. Burney Co. raised its holdings in shares of Altria Group by 4.0% in the 2nd quarter. Burney Co. now owns 22,348 shares of the company’s stock valued at $1,269,000 after purchasing an additional 859 shares in the last quarter. Reliance Trust Co. of Delaware raised its holdings in shares of Altria Group by 1.3% in the 3rd quarter. Reliance Trust Co. of Delaware now owns 65,627 shares of the company’s stock valued at $3,958,000 after purchasing an additional 871 shares in the last quarter. Cpwm LLC raised its holdings in shares of Altria Group by 23.9% in the 2nd quarter. Cpwm LLC now owns 4,527 shares of the company’s stock valued at $257,000 after purchasing an additional 874 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in shares of Altria Group by 3.9% in the 2nd quarter. 180 Wealth Advisors LLC now owns 23,305 shares of the company’s stock valued at $1,323,000 after purchasing an additional 878 shares in the last quarter. 63.33% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Dinyar S. Devitre sold 3,165 shares of Altria Group stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

Shares of NYSE:MO opened at $63.42 on Friday. Altria Group Inc has a 12 month low of $53.91 and a 12 month high of $74.38. The company has a current ratio of 0.60, a quick ratio of 0.36 and a debt-to-equity ratio of 0.77. The firm has a market cap of $122.83 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.86 and a beta of 0.40.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, October 25th. The company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.22 billion. Equities analysts expect that Altria Group Inc will post 3.99 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Altria Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 23rd. Citigroup raised their price objective on shares of Altria Group from $59.00 to $67.00 and gave the company a “hold” rating in a report on Friday, September 21st. Sanford C. Bernstein assumed coverage on shares of Altria Group in a report on Tuesday, October 16th. They issued a “market perform” rating on the stock. Zacks Investment Research lowered shares of Altria Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Finally, Stifel Nicolaus reduced their price objective on shares of Altria Group from $78.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Altria Group has a consensus rating of “Buy” and an average price target of $69.87.

TRADEMARK VIOLATION NOTICE: This story was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.thecerbatgem.com/2018/11/10/altria-group-inc-mo-shares-sold-by-provise-management-group-llc.html.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

Read More: How much money do you need to begin day trading?

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 Inc (NYSE:MO).

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

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.