Sei Investments Co. increased its position in Altria Group (NYSE:MO) by 23.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 802,213 shares of the company’s stock after buying an additional 152,562 shares during the quarter. Sei Investments Co.’s holdings in Altria Group were worth $59,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of MO. Sterling Investment Advisors Ltd. boosted its holdings in Altria Group by 133.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,400 shares of the company’s stock valued at $100,000 after acquiring an additional 800 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in Altria Group by 4.7% in the first quarter. Perigon Wealth Management LLC now owns 1,641 shares of the company’s stock valued at $118,000 after acquiring an additional 74 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Altria Group by 97.4% in the first quarter. Proficio Capital Partners LLC now owns 1,664 shares of the company’s stock valued at $121,000 after acquiring an additional 821 shares in the last quarter. Advantage Investment Management LLC boosted its holdings in Altria Group by 1.9% in the first quarter. Advantage Investment Management LLC now owns 1,752 shares of the company’s stock valued at $125,000 after acquiring an additional 32 shares in the last quarter. Finally, American Beacon Advisors Inc. bought a new stake in Altria Group in the first quarter valued at $164,000. 61.85% of the stock is currently owned by institutional investors.

In other Altria Group news, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $61.22, for a total value of $1,959,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Martin J. Barrington sold 15,300 shares of the firm’s 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 completion of 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. 0.11% of the stock is currently owned by company insiders.

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Altria Group (MO) opened at 65.35 on Friday. The firm has a 50-day moving average price of $63.28 and a 200-day moving average price of $69.62. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. 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 (NYSE:MO) last issued its quarterly 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). The business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a return on equity of 59.50% and a net margin of 56.98%. Altria Group’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 EPS. Equities research analysts expect that Altria Group will post $3.27 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.04%. The ex-dividend date was Thursday, September 14th. This is an increase from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio (DPR) is currently 34.83%.

Altria Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 0.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

A number of analysts have recently commented on MO shares. Vetr cut shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 target price on the stock. in a report on Wednesday, September 6th. 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. BidaskClub upgraded shares of Altria Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. 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, Cowen and Company restated a “hold” rating on shares of Altria Group in a report on Sunday, September 10th. One investment 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. The company presently has a consensus rating of “Hold” and an average target price 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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