Mogy Joel R Investment Counsel Inc. lowered its stake in shares of Altria Group (NYSE:MO) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,285 shares of the company’s stock after selling 700 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Altria Group were worth $5,309,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sterling Investment Advisors Ltd. lifted its position in shares of Altria Group by 133.3% during the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after acquiring an additional 800 shares in the last quarter. Solaris Asset Management LLC increased its holdings in shares of Altria Group by 65.7% in the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock worth $105,000 after purchasing an additional 557 shares during the period. CKW Financial Group bought a new position in shares of Altria Group in the second quarter worth $109,000. Perigon Wealth Management LLC increased its holdings in shares of Altria Group by 4.7% in the first 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 period. Finally, Proficio Capital Partners LLC increased its holdings in shares of Altria Group by 97.4% in the first 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 period. Hedge funds and other institutional investors own 61.92% of the company’s stock.

Altria Group (NYSE:MO) opened at $63.91 on Friday. The company has a market capitalization of $121.95 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 2.61 and a beta of 0.60. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.03. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. equities analysts forecast that Altria Group will post 3.28 EPS for the current year.

Altria Group declared that its Board of Directors has initiated a share buyback plan on Thursday, July 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 0.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th were paid a dividend of $0.66 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.61. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Thursday, September 14th. Altria Group’s dividend payout ratio (DPR) is 33.00%.

Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Altria Group from a “buy” rating to a “hold” rating in a report on Thursday. Vetr raised shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price target on the stock in a report on Monday. Cowen and Company reaffirmed a “hold” rating and issued a $74.00 price target on shares of Altria Group in a report on Tuesday, July 11th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $70.00 price target (down previously from $71.00) on shares of Altria Group in a report on Monday, July 17th. Finally, BidaskClub cut shares of Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Altria Group presently has a consensus rating of “Buy” and a consensus price target of $72.06.

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In other news, CEO Martin J. Barrington sold 15,300 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction of $994,959.00. Following the transaction, the chief executive officer now directly owns 701,074 shares of the company’s stock, valued at $45,590,842.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were 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. 0.11% of the stock is currently owned by company insiders.

Altria Group 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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