State Street Corp raised its position in shares of Altria Group (NYSE:MO) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,624,722 shares of the company’s stock after buying an additional 687,246 shares during the period. State Street Corp’s holdings in Altria Group were worth $5,329,771,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its position in Altria Group by 5.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 8,790,490 shares of the company’s stock worth $627,817,000 after buying an additional 476,393 shares during the period. Swiss National Bank raised its position in Altria Group by 25.1% in the first quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock worth $534,678,000 after buying an additional 1,501,400 shares during the period. UBS Asset Management Americas Inc. raised its position in Altria Group by 7.4% in the first quarter. UBS Asset Management Americas Inc. now owns 5,632,931 shares of the company’s stock worth $402,304,000 after buying an additional 387,069 shares during the period. Parametric Portfolio Associates LLC raised its position in Altria Group by 9.1% in the first quarter. Parametric Portfolio Associates LLC now owns 4,639,646 shares of the company’s stock worth $331,364,000 after buying an additional 388,541 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Altria Group by 23.8% in the first quarter. Canada Pension Plan Investment Board now owns 3,799,398 shares of the company’s stock worth $271,353,000 after buying an additional 730,600 shares during the period. 62.47% of the stock is owned by hedge funds and other institutional investors.

Shares of Altria Group (MO) traded down 0.14% during mid-day trading on Friday, hitting $64.68. 2,227,754 shares of the stock were exchanged. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. The company has a 50-day moving average price of $71.69 and a 200-day moving average price of $72.77. The stock has a market cap of $124.70 billion, a price-to-earnings ratio of 8.53 and a beta of 0.61.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.85 earnings per share 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 company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same period last year, the firm earned $0.81 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. Equities analysts expect 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 program on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 0.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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MO has been the subject of a number of recent research reports. BidaskClub raised shares of Altria Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Royal Bank Of Canada raised shares of Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 price objective for the company in a research note on Monday, July 31st. Vetr raised shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $79.51 price objective for the company in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Piper Jaffray Companies set a $76.00 price objective on shares of Altria Group and gave the stock a “buy” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $72.66.

In other news, Director George Munoz sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total value of $361,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

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.

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

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