AT Bancorp continued to hold its position in shares of Altria Group (NYSE:MO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,545 shares of the company’s stock at the close of the 2nd quarter. AT Bancorp’s holdings in Altria Group were worth $785,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sterling Investment Advisors Ltd. increased its position in shares of Altria Group by 133.3% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after purchasing an additional 800 shares during the last quarter. CKW Financial Group acquired a new position in shares of Altria Group during the 2nd quarter worth approximately $109,000. Perigon Wealth Management LLC increased its position in shares of Altria Group by 4.7% during the 1st quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock worth $118,000 after purchasing an additional 74 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Altria Group by 97.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock worth $121,000 after purchasing an additional 821 shares during the last quarter. Finally, Advantage Investment Management LLC increased its position in shares of Altria Group by 1.9% during the 1st quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock worth $125,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 61.82% of the company’s stock.

Altria Group (NYSE:MO) opened at 65.37 on Tuesday. The firm has a market capitalization of $126.03 billion, a price-to-earnings ratio of 8.62 and a beta of 0.64. The company’s 50 day moving average price is $63.30 and its 200-day moving average price is $69.51. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.85 EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.01). The business had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. On average, equities analysts anticipate that Altria Group will post $3.27 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 15th were issued a dividend of $0.66 per share. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. This represents a $2.64 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, September 14th. Altria Group’s dividend payout ratio (DPR) is 34.83%.

Altria Group announced that its Board of Directors has approved a share buyback program on Thursday, July 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 0.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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Several research firms have weighed in on MO. Cowen and Company set a $78.00 price target on Altria Group and gave the stock a “hold” rating in a research report on Friday, July 28th. Berenberg Bank set a $72.00 price target on Altria Group and gave the stock a “hold” rating in a research report on Sunday, August 6th. UBS AG lowered their price target on Altria Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, July 31st. Stifel Nicolaus lowered their price target on Altria Group from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, July 31st. Finally, Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.89 price target on the stock. in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Altria Group has a consensus rating of “Hold” and an average price target of $71.99.

In related news, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction of $994,959.00. Following the sale, the chief executive officer now directly owns 701,074 shares in the company, valued at $45,590,842.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $61.22, for a total value of $1,959,040.00. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Altria Group Company Profile

Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. 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 cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.

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

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