Daniel Devine & Co held its position in shares of Altria Group (NYSE:MO) during the second quarter, Holdings Channel reports. The institutional investor owned 8,600 shares of the company’s stock at the end of the second quarter. Daniel Devine & Co’s holdings in Altria Group were worth $640,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hartford Financial Management Inc. increased its stake in Altria Group by 25.4% in the first quarter. Hartford Financial Management Inc. now owns 4,542 shares of the company’s stock worth $324,000 after buying an additional 920 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Altria Group by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,691,362 shares of the company’s stock worth $120,797,000 after buying an additional 40,895 shares during the period. Washington Trust Bank boosted its stake in shares of Altria Group by 495.6% in the first quarter. Washington Trust Bank now owns 105,680 shares of the company’s stock worth $7,548,000 after buying an additional 87,937 shares during the period. West Oak Capital LLC boosted its stake in shares of Altria Group by 3.7% in the first quarter. West Oak Capital LLC now owns 5,753 shares of the company’s stock worth $411,000 after buying an additional 203 shares during the period. Finally, SPC Financial Inc. boosted its stake in shares of Altria Group by 1.8% in the first quarter. SPC Financial Inc. now owns 11,150 shares of the company’s stock worth $796,000 after buying an additional 200 shares during the period. Institutional investors own 62.47% of the company’s stock.

Shares of Altria Group (MO) traded down 0.71% during trading on Friday, hitting $64.31. 7,275,652 shares of the stock traded hands. Altria Group has a one year low of $60.01 and a one year high of $77.79. The firm has a 50 day moving average price of $71.34 and a 200-day moving average price of $72.73. The company has a market cap of $123.99 billion, a PE ratio of 8.48 and a beta of 0.61.

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

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

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A number of analysts recently weighed in on the stock. BidaskClub raised shares of Altria Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Berenberg Bank set a $72.00 price target on shares of Altria Group and gave the stock a “hold” rating in a research report on Sunday, August 6th. Vetr raised shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $79.51 price target for the company in a research report on Monday, July 31st. UBS AG decreased their price target on shares of Altria Group from $78.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, July 31st. Finally, Stifel Nicolaus decreased their price target on shares of Altria Group from $77.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $72.66.

In other news, Director George Munoz sold 5,000 shares of Altria Group stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $72.35, for a total transaction of $361,750.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.15% of the stock is currently owned by 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.

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

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