Altria Group, Inc. $MO Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP decreased its holdings in Altria Group, Inc. (NYSE:MO) by 85.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,877 shares of the company’s stock after selling 53,658 shares during the quarter. Stevens Capital Management LP’s holdings in Altria Group were worth $586,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Altria Group by 1.1% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 325,933 shares of the company’s stock worth $21,533,000 after acquiring an additional 3,482 shares in the last quarter. Convergence Financial LLC grew its stake in Altria Group by 39.2% during the 3rd quarter. Convergence Financial LLC now owns 6,417 shares of the company’s stock worth $424,000 after purchasing an additional 1,806 shares in the last quarter. Schrum Private Wealth Management LLC grew its stake in Altria Group by 14.6% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 6,740 shares of the company’s stock worth $445,000 after purchasing an additional 860 shares in the last quarter. Northeast Financial Group Inc. purchased a new stake in Altria Group during the 3rd quarter worth about $216,000. Finally, New Millennium Group LLC raised its position in Altria Group by 5,562.5% in the 3rd quarter. New Millennium Group LLC now owns 906 shares of the company’s stock valued at $60,000 after purchasing an additional 890 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Trading Down 0.7%

Shares of NYSE:MO opened at $67.49 on Friday. The firm has a 50 day simple moving average of $61.29 and a 200-day simple moving average of $62.38. Altria Group, Inc. has a twelve month low of $52.82 and a twelve month high of $68.60. The company has a market capitalization of $113.30 billion, a PE ratio of 16.42, a P/E/G ratio of 2.69 and a beta of 0.47.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. Altria Group’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group announced that its Board of Directors has authorized a share buyback program on Thursday, October 30th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were issued a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend was Friday, December 26th. Altria Group’s dividend payout ratio is presently 103.16%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup upped their target price on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. UBS Group increased their price objective on shares of Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Stifel Nicolaus decreased their price objective on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Finally, Argus raised Altria Group to a “hold” rating in a report on Tuesday, January 13th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and an average target price of $63.67.

Altria Group Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.