Altria Group, Inc. $MO Position Trimmed by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its stake in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,170,667 shares of the company’s stock after selling 121,483 shares during the period. Commonwealth Equity Services LLC’s holdings in Altria Group were worth $78,833,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Cortland Associates Inc. MO increased its stake in Altria Group by 1.2% during the 3rd quarter. Cortland Associates Inc. MO now owns 11,079 shares of the company’s stock valued at $746,000 after purchasing an additional 131 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Altria Group by 5.8% in the first quarter. Cornerstone Planning Group LLC now owns 2,619 shares of the company’s stock worth $191,000 after buying an additional 143 shares in the last quarter. Riverbend Wealth Management LLC grew its holdings in shares of Altria Group by 1.8% during the third quarter. Riverbend Wealth Management LLC now owns 8,194 shares of the company’s stock valued at $552,000 after buying an additional 143 shares during the last quarter. Angeles Wealth Management LLC grew its holdings in shares of Altria Group by 1.3% during the second quarter. Angeles Wealth Management LLC now owns 11,239 shares of the company’s stock valued at $821,000 after buying an additional 146 shares during the last quarter. Finally, Bernardo Wealth Planning LLC grew its holdings in shares of Altria Group by 4.6% during the second quarter. Bernardo Wealth Planning LLC now owns 3,379 shares of the company’s stock valued at $243,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Insider Buying and Selling at Altria Group

In other Altria Group news, Director Kathryn McQuade acquired 1,500 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was purchased at an average price of $67.62 per share, with a total value of $101,430.00. Following the transaction, the director directly owned 114,929 shares in the company, valued at approximately $7,771,498.98. The trade was a 1.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is owned by corporate insiders.

Altria Group Price Performance

Shares of NYSE:MO traded down $1.50 during trading on Friday, hitting $76.08. The company’s stock had a trading volume of 7,174,857 shares, compared to its average volume of 8,660,204. The company has a 50-day moving average of $71.38 and a 200-day moving average of $69.15. Altria Group, Inc. has a 12 month low of $54.70 and a 12 month high of $79.87. The firm has a market cap of $126.55 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 2.62 and a beta of 0.43.

Altria Group (NYSE:MO – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.01. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.31 billion. Altria Group had a net margin of 34.51% and a negative return on equity of 330.66%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.45 earnings per share. As a group, research analysts anticipate that Altria Group, Inc. will post 5.70 earnings per share for the current year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Tuesday, September 15th were paid a dividend of $1.11 per share. The ex-dividend date was Tuesday, September 15th. This represents a $4.44 annualized dividend and a dividend yield of 5.8%. This is a boost from Altria Group’s previous quarterly dividend of $1.06. Altria Group’s dividend payout ratio is 91.74%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MO shares. UBS Group boosted their price objective on shares of Altria Group from $79.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, October 30th. BTIG Research started coverage on Altria Group in a research note on Tuesday, July 21st. They set a “neutral” rating on the stock. Barclays lifted their target price on Altria Group from $58.00 to $60.00 and gave the stock an “underweight” rating in a report on Monday, November 2nd. Morgan Stanley boosted their price target on Altria Group from $71.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Friday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a report on Monday, October 12th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $71.67.

View Our Latest Research Report on MO

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Altria Group Company Profile

(Free Report)

Altria Group, Inc is a U.S.-based tobacco and nicotine company whose businesses focus primarily on the domestic market. Its products include cigarettes, smokeless tobacco, cigars, oral nicotine products and e-vapor products.

Altria’s portfolio includes Marlboro cigarettes, made by Philip Morris USA; Copenhagen and Skoal smokeless tobacco products, made by U.S. Smokeless Tobacco Company; and products from John Middleton and Helix Innovations. The company also owns NJOY, an e-vapor brand.

The company was established as Philip Morris Companies Inc and adopted the Altria name in 2003.

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

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