Warren Averett Asset Management LLC lessened its position in shares of Altria Group (NYSE:MO) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,045 shares of the company’s stock after selling 156 shares during the period. Warren Averett Asset Management LLC’s holdings in Altria Group were worth $748,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Sterling Investment Advisors Ltd. grew its holdings in shares of Altria Group by 133.3% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after acquiring an additional 800 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Altria Group by 4.7% in the 1st quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after acquiring an additional 74 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Altria Group by 97.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after acquiring an additional 821 shares in the last quarter. Advantage Investment Management LLC grew its holdings in shares of Altria Group by 1.9% in the 1st quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock valued at $125,000 after acquiring an additional 32 shares in the last quarter. Finally, American Beacon Advisors Inc. bought a new position in shares of Altria Group in the 1st quarter valued at about $164,000. Hedge funds and other institutional investors own 61.85% of the company’s stock.

Several equities analysts have recently weighed in on the company. Vetr cut Altria Group from a “buy” rating to a “hold” rating and set a $80.38 price objective for the company. in a report on Monday, June 19th. BidaskClub upgraded Altria Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Cowen and Company set a $78.00 price objective on Altria Group and gave the company a “hold” rating in a report on Friday, July 28th. Piper Jaffray Companies set a $76.00 price objective on Altria Group and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $70.00 price objective (down previously from $71.00) on shares of Altria Group in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $71.57.

Shares of Altria Group (MO) opened at 63.49 on Thursday. Altria Group has a 52 week low of $60.01 and a 52 week high of $77.79. The firm has a market capitalization of $122.41 billion, a P/E ratio of 8.37 and a beta of 0.64. The company has a 50-day moving average of $63.30 and a 200 day moving average of $70.04.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.01). Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts anticipate that Altria Group will post $3.26 earnings per share for the current year.

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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be given a dividend of $0.66 per share. This is an increase 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 4.16%. The ex-dividend date of this dividend is Thursday, September 14th. Altria Group’s dividend payout ratio is currently 34.83%.

TRADEMARK VIOLATION WARNING: “Warren Averett Asset Management LLC Lowers Holdings in Altria Group (MO)” was originally published by Watch List News and is the property of of Watch List News. If you are reading this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/warren-averett-asset-management-llc-lowers-holdings-in-altria-group-mo/1609016.html.

In other news, Director Dinyar S. Devitre sold 32,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total transaction of $1,959,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were 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 disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

About Altria Group

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)

Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with Analyst Ratings Network's FREE daily email newsletter.