Altria Group (MO) Position Trimmed by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC lowered its stake in Altria Group (NYSE:MO) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,465 shares of the company’s stock after selling 122 shares during the period. Crestwood Advisors Group LLC’s holdings in Altria Group were worth $500,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Kanawha Capital Management LLC boosted its holdings in shares of Altria Group by 1.0% during the 2nd quarter. Kanawha Capital Management LLC now owns 40,992 shares of the company’s stock valued at $3,053,000 after buying an additional 391 shares in the last quarter. Garde Capital Inc. boosted its holdings in shares of Altria Group by 1.0% during the 2nd quarter. Garde Capital Inc. now owns 4,941 shares of the company’s stock valued at $368,000 after buying an additional 50 shares in the last quarter. Dock Street Asset Management Inc. bought a new stake in shares of Altria Group during the 2nd quarter valued at $202,000. First Manhattan Co. boosted its holdings in shares of Altria Group by 1.6% during the 2nd quarter. First Manhattan Co. now owns 803,013 shares of the company’s stock valued at $59,800,000 after buying an additional 12,907 shares in the last quarter. Finally, Enterprise Financial Services Corp boosted its holdings in shares of Altria Group by 1.0% during the 2nd quarter. Enterprise Financial Services Corp now owns 7,370 shares of the company’s stock valued at $548,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 61.85% of the company’s stock.

Shares of Altria Group (NYSE MO) opened at 65.35 on Friday. The stock has a market cap of $125.99 billion, a price-to-earnings ratio of 8.62 and a beta of 0.64. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79. The stock’s 50 day moving average is $63.28 and its 200 day moving average is $69.62.

Altria Group (NYSE:MO) last released its earnings results on Thursday, July 27th. The company reported $0.85 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 for the quarter, compared to analyst estimates of $5.02 billion. During the same period last year, the firm earned $0.81 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities analysts predict that Altria Group will post $3.27 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 15th were issued a dividend of $0.66 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.61. The ex-dividend date was Thursday, September 14th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.04%. Altria Group’s payout ratio is 34.83%.

Altria Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 27th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 0.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

In related news, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction dated Thursday, September 21st. The stock was 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 at the SEC website. Also, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.03, for a total value of $994,959.00. Following the sale, the chief executive officer now directly owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

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MO has been the topic of a number of research reports. BidaskClub upgraded shares of Altria Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $69.00 target price on the stock in a report on Wednesday, September 20th. Jefferies Group LLC set a $67.00 target price on shares of Altria Group and gave the company a “hold” rating in a report on Thursday, August 24th. Royal Bank Of Canada upgraded shares of Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 target price on the stock in a report on Monday, July 31st. Finally, Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Altria Group has a consensus rating of “Hold” and a consensus price target of $71.73.

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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