Premier Fund Managers Ltd Lowers Stock Position in Altria Group, Inc. $MO

Premier Fund Managers Ltd trimmed its holdings in shares of Altria Group, Inc. (NYSE:MO) by 9.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 123,100 shares of the company’s stock after selling 13,000 shares during the period. Premier Fund Managers Ltd’s holdings in Altria Group were worth $8,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Darwin Wealth Management LLC purchased a new position in Altria Group in the second quarter worth $27,000. Country Trust Bank grew its stake in shares of Altria Group by 400.0% during the 2nd quarter. Country Trust Bank now owns 500 shares of the company’s stock worth $29,000 after purchasing an additional 400 shares during the period. Anfield Capital Management LLC increased its holdings in shares of Altria Group by 334.7% in the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after purchasing an additional 415 shares in the last quarter. Winnow Wealth LLC acquired a new stake in shares of Altria Group in the second quarter valued at about $35,000. Finally, Physician Wealth Advisors Inc. boosted its holdings in Altria Group by 634.5% during the third quarter. Physician Wealth Advisors Inc. now owns 639 shares of the company’s stock worth $42,000 after buying an additional 552 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Altria Group Price Performance

Shares of MO opened at $67.49 on Friday. Altria Group, Inc. has a 1-year low of $52.82 and a 1-year high of $68.60. The stock has a market cap of $113.30 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 2.69 and a beta of 0.47. The firm has a 50 day simple moving average of $61.29 and a 200-day simple moving average of $62.38.

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

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date was Friday, December 26th. Altria Group’s dividend payout ratio (DPR) is currently 103.16%.

Altria Group announced that its board has initiated a stock buyback program on Thursday, October 30th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 1.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Altria Group

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.