Cadinha & Co. LLC boosted its stake in shares of Altria Group (NYSE:MO) by 34.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,301 shares of the company’s stock after buying an additional 2,401 shares during the quarter. Cadinha & Co. LLC’s holdings in Altria Group were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of MO. Sterling Investment Advisors Ltd. grew its position in shares of 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 purchasing an additional 800 shares during the last quarter. Solaris Asset Management LLC grew its position in shares of Altria Group by 65.7% in the second quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after purchasing an additional 557 shares during the last quarter. CKW Financial Group acquired a new stake in shares of Altria Group in the second quarter valued at approximately $109,000. Perigon Wealth Management LLC grew its position in shares of 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 purchasing an additional 74 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of 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 purchasing an additional 821 shares during the last quarter. Institutional investors own 61.82% of the company’s stock.

Shares of Altria Group (NYSE MO) opened at 65.00 on Friday. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. The company’s 50-day moving average is $63.47 and its 200-day moving average is $69.30. The firm has a market cap of $125.32 billion, a price-to-earnings ratio of 8.57 and a beta of 0.64.

Altria Group (NYSE:MO) last released 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). The firm 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 business’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. On average, equities research analysts forecast that Altria Group will post $3.27 earnings per share for the current fiscal year.

Altria Group declared that its Board of Directors has approved a share buyback plan on Thursday, July 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 0.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th were given a $0.66 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.61. This represents a $2.64 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Thursday, September 14th. Altria Group’s dividend payout ratio (DPR) is 34.83%.

MO has been the topic of several research reports. BidaskClub upgraded shares of Altria Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $69.00 price target on the stock in a research report on Wednesday, September 20th. Jefferies Group LLC set a $67.00 price target on shares of Altria Group and gave the company a “hold” rating in a research report on Thursday, August 24th. Royal Bank Of Canada upgraded shares of Altria Group from an “underperform” rating to a “sector perform” rating and set a $62.00 price target on the stock in a research report on Monday, July 31st. Finally, Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $71.99.

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In related news, Director Dinyar S. Devitre sold 32,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $61.22, for a total transaction of $1,959,040.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Martin J. Barrington sold 15,300 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total transaction of $994,959.00. Following the transaction, the chief executive officer now directly owns 701,074 shares in the company, valued at $45,590,842.22. The disclosure for this sale can be found here. Company insiders own 0.11% 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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