Denali Advisors LLC Sells 21,719 Shares of Altria Group, Inc. $MO

Denali Advisors LLC lowered its stake in Altria Group, Inc. (NYSE:MO) by 15.7% during the 3rd quarter, Holdings Channel reports. The firm owned 116,243 shares of the company’s stock after selling 21,719 shares during the quarter. Altria Group makes up about 0.9% of Denali Advisors LLC’s holdings, making the stock its 22nd biggest position. Denali Advisors LLC’s holdings in Altria Group were worth $7,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Altria Group by 64.7% during the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after buying an additional 6,954 shares in the last quarter. Sivia Capital Partners LLC raised its position in Altria Group by 86.3% during the second quarter. Sivia Capital Partners LLC now owns 6,361 shares of the company’s stock valued at $373,000 after purchasing an additional 2,946 shares during the period. Stratos Wealth Partners LTD. lifted its stake in shares of Altria Group by 7.5% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 63,278 shares of the company’s stock valued at $3,710,000 after purchasing an additional 4,429 shares during the last quarter. Aspiriant LLC purchased a new position in shares of Altria Group in the 2nd quarter worth approximately $207,000. Finally, Quotient Wealth Partners LLC increased its position in shares of Altria Group by 22.3% during the 2nd quarter. Quotient Wealth Partners LLC now owns 7,216 shares of the company’s stock valued at $423,000 after purchasing an additional 1,314 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Argus raised Altria Group to a “hold” rating in a research note on Tuesday, January 13th. UBS Group upped their price objective on Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Stifel Nicolaus reduced their target price on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Finally, Citigroup upped their price target on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Altria Group presently has an average rating of “Hold” and an average price target of $63.67.

Altria Group Trading Up 0.3%

Shares of NYSE MO opened at $67.23 on Monday. The stock’s fifty day simple moving average is $60.42 and its two-hundred day simple moving average is $62.20. Altria Group, Inc. has a 12-month low of $52.46 and a 12-month high of $68.60. The stock has a market capitalization of $112.85 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 3.71 and a beta of 0.47.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. The firm had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the previous year, the company posted $1.30 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group declared that its Board of Directors has authorized a stock buyback program on Thursday, October 30th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were paid a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 6.3%. The ex-dividend date was Friday, December 26th. Altria Group’s dividend payout ratio (DPR) is 103.16%.

Altria Group Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.