Newbridge Financial Services Group Inc. Decreases Stock Position in Altria Group, Inc. $MO

Newbridge Financial Services Group Inc. cut its position in Altria Group, Inc. (NYSE:MO) by 69.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 26,571 shares of the company’s stock after selling 60,531 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Altria Group were worth $1,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in shares of Altria Group by 1.2% in the second quarter. State Street Corp now owns 72,367,263 shares of the company’s stock valued at $4,315,438,000 after purchasing an additional 886,583 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Altria Group by 19.4% in the third quarter. Ameriprise Financial Inc. now owns 19,567,823 shares of the company’s stock valued at $1,285,575,000 after purchasing an additional 3,172,753 shares during the period. Northern Trust Corp boosted its stake in Altria Group by 0.4% during the 3rd quarter. Northern Trust Corp now owns 16,705,159 shares of the company’s stock valued at $1,103,543,000 after acquiring an additional 59,189 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Altria Group by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,747,828 shares of the company’s stock valued at $842,122,000 after acquiring an additional 132,846 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in Altria Group by 0.4% during the 3rd quarter. Capital Research Global Investors now owns 12,131,644 shares of the company’s stock valued at $801,412,000 after acquiring an additional 47,757 shares during the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Up 1.1%

Shares of NYSE MO opened at $66.51 on Tuesday. The stock’s 50 day moving average price is $66.13 and its two-hundred day moving average price is $62.52. Altria Group, Inc. has a 52-week low of $52.82 and a 52-week high of $70.51. The stock has a market capitalization of $111.20 billion, a P/E ratio of 16.18, a PEG ratio of 2.81 and a beta of 0.41.

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

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Wednesday, March 25th. Altria Group’s dividend payout ratio (DPR) is presently 103.16%.

Insider Activity

In other news, SVP Charles N. Whitaker sold 27,908 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $67.57, for a total value of $1,885,743.56. Following the transaction, the senior vice president directly owned 180,869 shares in the company, valued at approximately $12,221,318.33. This trade represents a 13.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MO. Barclays increased their price objective on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Monday, February 23rd. Argus upgraded shares of Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Jefferies Financial Group boosted their price objective on Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a report on Wednesday, March 4th. UBS Group upped their price objective on Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Stifel Nicolaus cut their price objective 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. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Altria Group presently has an average rating of “Hold” and a consensus target price of $65.75.

Altria Group Company 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.