Altria Group, Inc. $MO Shares Sold by Premier Fund Managers Ltd

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

Several other hedge funds also recently added to or reduced their stakes in MO. Darwin Wealth Management LLC purchased a new stake in shares of Altria Group during the 2nd quarter worth approximately $27,000. Country Trust Bank raised its stake in 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 acquiring an additional 400 shares in the last quarter. Anfield Capital Management LLC lifted its position in Altria Group by 334.7% in the second quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after acquiring an additional 415 shares during the last quarter. Winnow Wealth LLC acquired a new position in Altria Group in the second quarter valued at $35,000. Finally, WFA of San Diego LLC acquired a new position in Altria Group in the second quarter valued at $39,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Altria Group Stock Down 0.7%

MO opened at $67.49 on Friday. Altria Group, Inc. has a 52 week low of $52.82 and a 52 week high of $68.60. The business has a 50 day moving average price of $61.29 and a two-hundred day moving average price of $62.38. The company has a market cap of $113.30 billion, a PE ratio of 16.42, a P/E/G ratio of 2.69 and a beta of 0.47.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share 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 company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter last year, the business posted $1.30 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

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

Altria Group declared that its Board of Directors has initiated a share repurchase 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is 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.