Altria Group, Inc. $MO Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its holdings in Altria Group, Inc. (NYSE:MO) by 78.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 474,817 shares of the company’s stock after selling 1,732,759 shares during the quarter. Mackenzie Financial Corp’s holdings in Altria Group were worth $31,366,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Altria Group by 64.7% during the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after buying an additional 6,954 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Altria Group by 86.3% during the second quarter. Sivia Capital Partners LLC now owns 6,361 shares of the company’s stock worth $373,000 after buying an additional 2,946 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in shares of Altria Group by 6.9% in the second quarter. Schnieders Capital Management LLC. now owns 9,630 shares of the company’s stock worth $565,000 after buying an additional 618 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Altria Group by 1.6% in the first quarter. Summit Investment Advisors Inc. now owns 17,101 shares of the company’s stock worth $1,026,000 after buying an additional 267 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Altria Group by 267.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 89,652 shares of the company’s stock valued at $5,256,000 after acquiring an additional 65,226 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 1.9%

MO stock opened at $67.63 on Friday. The stock has a market cap of $113.07 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 2.83 and a beta of 0.45. The firm’s 50-day simple moving average is $64.00 and its 200 day simple moving average is $62.63. Altria Group, Inc. has a fifty-two week low of $52.82 and a fifty-two week high of $70.51.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (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%. During the same quarter last year, the business earned $1.30 EPS. The business’s revenue was down .5% compared to the same quarter last year. Equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm 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. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 annualized dividend and a dividend yield of 6.3%. Altria Group’s payout ratio is currently 103.16%.

Insider Transactions at Altria Group

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

Wall Street Analyst Weigh In

A number of research analysts have commented on MO shares. Citigroup increased their price objective on shares of 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 shares of Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Jefferies Financial Group upped their target price on shares of Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a research note on Wednesday, March 4th. Stifel Nicolaus reduced their price target on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, Barclays lifted their price target on Altria Group from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and an average price target of $65.11.

Altria Group Company 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.