Seven Eight Capital LP Sells 152,900 Shares of Altria Group Inc (MO)

Seven Eight Capital LP trimmed its holdings in Altria Group Inc (NYSE:MO) by 67.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 73,997 shares of the company’s stock after selling 152,900 shares during the quarter. Seven Eight Capital LP’s holdings in Altria Group were worth $4,463,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Altria Group by 3.4% during the 2nd quarter. BlackRock Inc. now owns 138,589,215 shares of the company’s stock worth $7,870,481,000 after buying an additional 4,581,335 shares during the period. FMR LLC boosted its holdings in shares of Altria Group by 14.1% during the 2nd quarter. FMR LLC now owns 37,263,858 shares of the company’s stock worth $2,116,214,000 after buying an additional 4,613,088 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Altria Group by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,786,839 shares of the company’s stock worth $1,237,273,000 after buying an additional 855,416 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Altria Group by 2.6% during the 2nd quarter. Janus Henderson Group PLC now owns 18,492,919 shares of the company’s stock worth $1,050,215,000 after buying an additional 460,964 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Altria Group by 49.6% during the 2nd quarter. Morgan Stanley now owns 16,461,864 shares of the company’s stock worth $934,869,000 after buying an additional 5,454,989 shares during the period. 63.24% of the stock is owned by institutional investors.

In other news, Director Dinyar S. Devitre sold 3,165 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total value of $184,962.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.

MO has been the subject of several research analyst reports. Zacks Investment Research cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Piper Jaffray Companies set a $75.00 target price on shares of Altria Group and gave the company a “buy” rating in a research note on Monday, July 23rd. Jefferies Financial Group cut shares of Altria Group from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a research note on Friday, August 24th. Citigroup upped their target price on shares of Altria Group from $59.00 to $67.00 and gave the company a “hold” rating in a research note on Friday, September 21st. Finally, Bank of America set a $70.00 target price on shares of Altria Group and gave the company a “buy” rating in a research note on Thursday, September 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $70.28.

Shares of MO stock opened at $61.95 on Friday. Altria Group Inc has a 52-week low of $53.91 and a 52-week high of $74.38. The firm has a market capitalization of $114.86 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.73 and a beta of 0.61. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.83.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, July 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Altria Group had a net margin of 42.00% and a return on equity of 48.88%. The company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the prior year, the company posted $0.85 EPS. The business’s revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts forecast that Altria Group Inc will post 4 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Friday, September 14th were paid a $0.80 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, September 13th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.17%. Altria Group’s dividend payout ratio is currently 94.67%.

Altria Group Company Profile

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.

Further Reading: Book Value Per Share – BVPS

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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