People s United Financial Inc. lessened its stake in Altria Group Inc (NYSE:MO) by 11.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,503 shares of the company’s stock after selling 12,862 shares during the period. People s United Financial Inc.’s holdings in Altria Group were worth $5,820,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MO. Cognios Capital LLC increased its holdings in shares of Altria Group by 11.2% during the second quarter. Cognios Capital LLC now owns 37,187 shares of the company’s stock worth $2,110,000 after purchasing an additional 3,751 shares during the period. Capital Advantage Inc. bought a new position in shares of Altria Group during the second quarter valued at $210,000. IMA Wealth Inc. bought a new position in shares of Altria Group during the second quarter valued at $106,000. Oak Asset Management LLC raised its stake in Altria Group by 13.9% during the second quarter. Oak Asset Management LLC now owns 22,447 shares of the company’s stock worth $1,275,000 after buying an additional 2,734 shares during the last quarter. Finally, NuWave Investment Management LLC bought a new position in Altria Group during the second quarter worth $338,000. 64.49% of the stock is owned by institutional investors.

MO opened at $54.40 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.36 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $103.03 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 1.63 and a beta of 0.37. Altria Group Inc has a 12-month low of $52.90 and a 12-month high of $74.38.

Altria Group (NYSE:MO) last released its earnings results on Thursday, October 25th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. On average, equities research analysts predict that Altria Group Inc will post 3.99 earnings per share for the current year.

Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Tuesday, September 25th. Jefferies Financial Group cut shares of Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price target on the stock. in a report on Friday, August 24th. Sanford C. Bernstein assumed coverage on shares of Altria Group in a report on Tuesday, October 16th. They set a “market perform” rating on the stock. ValuEngine upgraded shares of Altria Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Finally, Wells Fargo & Co dropped their target price on shares of Altria Group from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, November 26th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $68.08.

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About Altria Group

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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