Johnson Financial Group Inc. trimmed its position in shares of Altria Group Inc (NYSE:MO) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,761 shares of the company’s stock after selling 9,944 shares during the quarter. Altria Group makes up about 0.8% of Johnson Financial Group Inc.’s portfolio, making the stock its 18th biggest holding. Johnson Financial Group Inc.’s holdings in Altria Group were worth $6,972,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MO. Massachusetts Financial Services Co. MA increased its holdings in Altria Group by 60.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,636,235 shares of the company’s stock worth $912,131,000 after acquiring an additional 5,542,534 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Altria Group by 17.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 11,564,981 shares of the company’s stock worth $720,730,000 after acquiring an additional 1,736,849 shares in the last quarter. Boston Partners increased its holdings in Altria Group by 282.0% in the 1st quarter. Boston Partners now owns 2,226,211 shares of the company’s stock worth $138,737,000 after acquiring an additional 1,643,445 shares in the last quarter. Independent Franchise Partners LLP increased its holdings in Altria Group by 48.3% in the 1st quarter. Independent Franchise Partners LLP now owns 4,604,285 shares of the company’s stock worth $286,939,000 after acquiring an additional 1,500,181 shares in the last quarter. Finally, Coho Partners Ltd. purchased a new stake in Altria Group in the 1st quarter worth $80,168,000. 62.92% of the stock is owned by hedge funds and other institutional investors.

Shares of MO opened at $61.00 on Friday. Altria Group Inc has a 52-week low of $53.91 and a 52-week high of $74.38. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.31 and a current ratio of 0.65. The firm has a market cap of $111.32 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.72 and a beta of 0.65.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, July 26th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a net margin of 42.00% and a return on equity of 48.88%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. analysts forecast that Altria Group Inc will post 4 earnings per share for the current fiscal year.

Altria Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

MO has been the subject of several recent analyst reports. Jefferies Financial Group set a $70.00 price target on shares of Altria Group and gave the stock a “buy” rating in a report on Friday, June 1st. Piper Jaffray Companies set a $75.00 price target on shares of Altria Group and gave the stock a “buy” rating in a report on Monday, April 23rd. Stifel Nicolaus cut their price target on shares of Altria Group from $78.00 to $65.00 and set a “buy” rating for the company in a report on Friday, July 27th. Morgan Stanley cut their price target on shares of Altria Group from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Tuesday, June 26th. Finally, Consumer Edge initiated coverage on shares of Altria Group in a report on Monday, June 11th. They issued an “equal weight” rating and a $69.31 price target for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $71.61.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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

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