Mainstay Capital Management LLC ADV Trims Position in Altria Group, Inc. $MO

Mainstay Capital Management LLC ADV decreased its position in shares of Altria Group, Inc. (NYSE:MO) by 50.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,332 shares of the company’s stock after selling 20,394 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Altria Group were worth $1,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of MO. Darwin Wealth Management LLC purchased a new position in Altria Group during the second quarter worth about $27,000. Country Trust Bank grew its stake in shares of Altria Group by 400.0% in the 2nd quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after buying an additional 400 shares during the period. Anfield Capital Management LLC grew its stake in shares of Altria Group by 334.7% in the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after buying an additional 415 shares during the period. EMC Capital Management acquired a new stake in shares of Altria Group during the 3rd quarter worth approximately $33,000. Finally, Winnow Wealth LLC acquired a new stake in shares of Altria Group during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Down 2.8%

Shares of NYSE MO opened at $65.09 on Thursday. The business’s 50 day moving average is $64.88 and its two-hundred day moving average is $62.61. Altria Group, Inc. has a 52-week low of $52.82 and a 52-week high of $70.51. The firm has a market cap of $108.83 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 2.86 and a beta of 0.45.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 EPS. Analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm also recently declared 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. This represents a $4.24 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group’s dividend payout ratio is currently 103.16%.

Insider Activity

In related news, SVP Charles N. Whitaker sold 27,908 shares of Altria Group stock in a transaction that occurred on Thursday, March 5th. The shares were 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 owned 180,869 shares in the company, valued at approximately $12,221,318.33. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

MO has been the topic of a number of recent analyst reports. Argus upgraded Altria Group to a “hold” rating in a report on Tuesday, January 13th. Citigroup raised their target price on Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. UBS Group lifted their target price on Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Barclays upped their price target on Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Monday, February 23rd. Finally, Jefferies Financial Group increased their price target on Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a report on Wednesday, March 4th. 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 company’s stock. According to data from MarketBeat, Altria Group has an average 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.