HCR Wealth Advisors Sells 823 Shares of Altria Group Inc (NYSE:MO)

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HCR Wealth Advisors reduced its stake in Altria Group Inc (NYSE:MO) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,881 shares of the company’s stock after selling 823 shares during the period. HCR Wealth Advisors’ holdings in Altria Group were worth $898,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Legacy Wealth Planning LLC raised its position in shares of Altria Group by 8.1% in the first quarter. Legacy Wealth Planning LLC now owns 6,542 shares of the company’s stock valued at $25,000 after buying an additional 488 shares during the last quarter. Larson Financial Group LLC increased its position in Altria Group by 243.9% during the second quarter. Larson Financial Group LLC now owns 736 shares of the company’s stock worth $29,000 after purchasing an additional 522 shares during the last quarter. Pflug Koory LLC increased its position in Altria Group by 70.0% during the first quarter. Pflug Koory LLC now owns 765 shares of the company’s stock worth $30,000 after purchasing an additional 315 shares during the last quarter. Sanders Morris Harris LLC increased its position in Altria Group by 5.1% during the first quarter. Sanders Morris Harris LLC now owns 82,156 shares of the company’s stock worth $31,000 after purchasing an additional 4,006 shares during the last quarter. Finally, Country Trust Bank increased its position in Altria Group by 58.4% during the first quarter. Country Trust Bank now owns 814 shares of the company’s stock worth $31,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 63.59% of the company’s stock.

Shares of NYSE MO traded down $0.43 during midday trading on Friday, hitting $41.15. The company’s stock had a trading volume of 7,567,629 shares, compared to its average volume of 6,420,735. Altria Group Inc has a 1 year low of $30.95 and a 1 year high of $52.45. The business’s fifty day simple moving average is $40.34 and its two-hundred day simple moving average is $41.29. The company has a debt-to-equity ratio of 4.76, a current ratio of 0.75 and a quick ratio of 0.53. The firm has a market capitalization of $76.47 billion, a price-to-earnings ratio of -79.13, a price-to-earnings-growth ratio of 1.93 and a beta of 0.43.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Altria Group had a negative net margin of 3.57% and a positive return on equity of 109.11%. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. Analysts anticipate that Altria Group Inc will post 4.3 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Tuesday, September 15th will be paid a $0.86 dividend. The ex-dividend date is Monday, September 14th. This represents a $3.44 dividend on an annualized basis and a yield of 8.36%. This is an increase from Altria Group’s previous quarterly dividend of $0.84. Altria Group’s payout ratio is currently 79.62%.

MO has been the subject of several recent analyst reports. Barclays cut shares of Altria Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $50.00 to $43.00 in a research report on Wednesday, July 8th. Panmure Gordon upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Friday, April 3rd. Cfra lifted their price target on shares of Altria Group from $42.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Citigroup lifted their price target on shares of Altria Group from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $52.00 price target on shares of Altria Group in a research report on Monday, June 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $50.36.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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

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