London Co. of Virginia Sells 76,430 Shares of Altria Group, Inc. $MO

London Co. of Virginia lowered its holdings in Altria Group, Inc. (NYSE:MO) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,951,964 shares of the company’s stock after selling 76,430 shares during the quarter. Altria Group accounts for about 1.4% of London Co. of Virginia’s investment portfolio, making the stock its 25th biggest holding. London Co. of Virginia owned 0.24% of Altria Group worth $261,068,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CWA Asset Management Group LLC lifted its holdings in shares of Altria Group by 8.6% during the 3rd quarter. CWA Asset Management Group LLC now owns 335,418 shares of the company’s stock valued at $22,158,000 after buying an additional 26,624 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Altria Group by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,522,209 shares of the company’s stock worth $232,677,000 after buying an additional 44,303 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Altria Group by 7.2% in the third quarter. JPMorgan Chase & Co. now owns 12,073,682 shares of the company’s stock worth $797,587,000 after acquiring an additional 814,665 shares during the period. Vanguard Group Inc. grew its holdings in shares of Altria Group by 1.0% in the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock worth $9,364,216,000 after acquiring an additional 1,599,923 shares during the period. Finally, Silver Oak Securities Incorporated increased its position in Altria Group by 155.4% during the third quarter. Silver Oak Securities Incorporated now owns 31,220 shares of the company’s stock valued at $2,062,000 after acquiring an additional 18,997 shares during the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Performance

Shares of Altria Group stock opened at $67.58 on Tuesday. The stock has a market cap of $112.99 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.90 and a beta of 0.45. The stock’s fifty day moving average is $64.44 and its 200 day moving average is $62.59. Altria Group, Inc. has a one year low of $52.82 and a one year high of $70.51.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 EPS. Analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group’s payout ratio is presently 103.16%.

Insider Buying and Selling at Altria Group

In related news, SVP Charles N. Whitaker sold 27,908 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the completion of the transaction, the senior vice president directly owned 180,869 shares in the company, valued at approximately $12,221,318.33. The trade was a 13.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MO shares. Argus raised Altria Group to a “hold” rating in a report on Tuesday, January 13th. Barclays boosted their price target on Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Monday, February 23rd. UBS Group increased their price objective on shares of Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Citigroup raised their price objective on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Stifel Nicolaus cut their target price 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. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and an average price target of $65.11.

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.