Oppenheimer & Co. Inc. decreased its stake in Altria Group (NYSE:MO) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 315,647 shares of the company’s stock after selling 7,009 shares during the period. Altria Group comprises 0.6% of Oppenheimer & Co. Inc.’s investment portfolio, making the stock its 22nd largest position. Oppenheimer & Co. Inc.’s holdings in Altria Group were worth $21,767,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MO. Hudock Capital Group LLC raised its position in Altria Group by 0.3% in the second quarter. Hudock Capital Group LLC now owns 4,051 shares of the company’s stock valued at $279,000 after buying an additional 14 shares during the period. Cortland Associates Inc. MO raised its position in shares of Altria Group by 0.3% in the first quarter. Cortland Associates Inc. MO now owns 5,714 shares of the company’s stock worth $358,000 after buying an additional 15 shares during the last quarter. Tarbox Group Inc. raised its position in shares of Altria Group by 0.3% in the second quarter. Tarbox Group Inc. now owns 5,558 shares of the company’s stock worth $383,000 after buying an additional 15 shares during the last quarter. Pioneer Trust Bank N A OR raised its position in shares of Altria Group by 0.3% in the second quarter. Pioneer Trust Bank N A OR now owns 6,347 shares of the company’s stock worth $438,000 after buying an additional 16 shares during the last quarter. Finally, Warren Averett Asset Management LLC raised its position in shares of Altria Group by 0.7% in the second quarter. Warren Averett Asset Management LLC now owns 4,617 shares of the company’s stock worth $318,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 61.64% of the company’s stock.

Altria Group (NYSE:MO) traded down 0.13% during trading on Monday, hitting $62.72. 3,543,011 shares of the stock traded hands. The company’s 50 day moving average price is $66.38 and its 200-day moving average price is $64.89. The stock has a market cap of $122.55 billion, a P/E ratio of 21.78 and a beta of 0.48. Altria Group has a 52-week low of $53.68 and a 52-week high of $70.15.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.01. The company had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. Altria Group’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. Equities research analysts forecast that Altria Group will post $3.05 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Thursday, September 15th will be given a $0.61 dividend. The ex-dividend date is Tuesday, September 13th. This is a positive change from Altria Group’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 3.89%. Altria Group’s payout ratio is currently 84.72%.

MO has been the topic of a number of research reports. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.90 price objective on the stock. in a research note on Tuesday, September 13th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $69.00 price objective (up previously from $64.00) on shares of Altria Group in a research note on Friday, July 15th. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Thursday, August 4th. Argus set a $73.00 price objective on shares of Altria Group and gave the stock a “buy” rating in a research note on Monday, August 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $71.00 price objective (up previously from $65.00) on shares of Altria Group in a research note on Monday, June 27th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $69.41.

In related news, SVP Charles N. Whitaker sold 11,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $66.53, for a total value of $731,830.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP James E. Dillard III sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total transaction of $600,120.00. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

About Altria Group

Altria Group, Inc is a holding company. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.

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