PBWM Holdings LLC Reduces Stake in Altria Group (MO)

PBWM Holdings LLC decreased its position in shares of Altria Group (NYSE:MO) by 6.6% during the first quarter, Holdings Channel reports. The firm owned 162,263 shares of the company’s stock after selling 11,421 shares during the period. Altria Group accounts for about 4.7% of PBWM Holdings LLC’s portfolio, making the stock its 4th largest position. PBWM Holdings LLC’s holdings in Altria Group were worth $11,589,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MO. Soros Fund Management LLC purchased a new position in Altria Group during the fourth quarter valued at approximately $352,000. Texas Yale Capital Corp. boosted its position in Altria Group by 3.6% in the fourth quarter. Texas Yale Capital Corp. now owns 93,865 shares of the company’s stock valued at $6,347,000 after buying an additional 3,225 shares in the last quarter. Intact Investment Management Inc. boosted its position in Altria Group by 41.0% in the fourth quarter. Intact Investment Management Inc. now owns 288,000 shares of the company’s stock valued at $19,477,000 after buying an additional 83,700 shares in the last quarter. Hartford Financial Management Inc. boosted its position in Altria Group by 25.4% in the first quarter. Hartford Financial Management Inc. now owns 4,542 shares of the company’s stock valued at $324,000 after buying an additional 920 shares in the last quarter. Finally, LGL Partners LLC boosted its position in Altria Group by 1.0% in the fourth quarter. LGL Partners LLC now owns 4,260 shares of the company’s stock valued at $288,000 after buying an additional 42 shares in the last quarter. Institutional investors and hedge funds own 62.05% of the company’s stock.

Altria Group (NYSE:MO) opened at 74.25 on Monday. The stock’s 50 day moving average is $74.43 and its 200-day moving average is $72.19. Altria Group has a 52-week low of $60.82 and a 52-week high of $77.79. The stock has a market capitalization of $143.97 billion, a price-to-earnings ratio of 10.05 and a beta of 0.64.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Tuesday, May 2nd. The company reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The firm had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.63 billion. Altria Group had a net margin of 55.99% and a return on equity of 76.43%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. Equities research analysts anticipate that Altria Group will post $3.28 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.61 per share. The ex-dividend date is Tuesday, June 13th. This represents a $2.44 annualized dividend and a dividend yield of 3.29%. Altria Group’s payout ratio is 33.02%.

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Several research firms have commented on MO. Vetr raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.89 target price on the stock in a research report on Monday, April 3rd. Piper Jaffray Companies began coverage on shares of Altria Group in a research report on Wednesday, May 24th. They set an “overweight” rating and a $76.00 target price on the stock. Zacks Investment Research cut shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Royal Bank of Canada reissued a “sell” rating and set a $62.00 target price on shares of Altria Group in a research report on Friday, May 26th. Finally, BidaskClub cut shares of Altria Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $72.46.

In other news, Director Dinyar S. Devitre sold 4,285 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $70.72, for a total transaction of $303,035.20. Following the sale, the director now directly owns 112,457 shares in the company, valued at approximately $7,952,959.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Munoz sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $72.35, for a total transaction of $361,750.00. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Altria Group Company 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.

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

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