Doyle Wealth Management boosted its position in Altria Group (NYSE:MO) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,980 shares of the company’s stock after buying an additional 205 shares during the period. Doyle Wealth Management’s holdings in Altria Group were worth $520,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MO. Sterling Investment Advisors Ltd. increased its stake in Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock worth $100,000 after buying an additional 800 shares in the last quarter. Perigon Wealth Management LLC increased its stake in Altria Group by 4.7% in the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock worth $118,000 after buying an additional 74 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Altria Group by 97.4% in the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock worth $121,000 after buying an additional 821 shares in the last quarter. Advantage Investment Management LLC increased its stake in Altria Group by 1.9% in the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock worth $125,000 after buying an additional 32 shares in the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new stake in Altria Group during the first quarter worth about $134,000. 62.39% of the stock is owned by institutional investors and hedge funds.

Altria Group (NYSE:MO) traded down 0.87% during trading on Thursday, hitting $64.88. The stock had a trading volume of 2,869,390 shares. The company has a 50-day moving average price of $70.40 and a 200-day moving average price of $72.62. The company has a market cap of $125.09 billion, a price-to-earnings ratio of 8.56 and a beta of 0.61. Altria Group has a 52-week low of $60.01 and a 52-week high of $77.79.

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

Altria Group declared that its Board of Directors has authorized a stock repurchase program on Thursday, July 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 0.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

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A number of research firms have issued reports on MO. Berenberg Bank set a $72.00 target price on Altria Group and gave the stock a “hold” rating in a research report on Sunday, August 6th. BidaskClub raised Altria Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $79.51 target price for the company in a research report on Monday, July 31st. UBS AG decreased their target price on 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 target price on 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 research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $72.66.

In related news, Director George Munoz sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $72.35, for a total value of $361,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Martin J. Barrington sold 15,300 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.03, for a total transaction of $994,959.00. Following the completion of the transaction, 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. Corporate insiders own 0.15% of the company’s stock.

Altria Group Company 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.

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

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