Alps Advisors Inc. Sells 36,230 Shares of Altria Group, Inc. $MO

Alps Advisors Inc. cut its holdings in shares of Altria Group, Inc. (NYSE:MO) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 465,456 shares of the company’s stock after selling 36,230 shares during the period. Alps Advisors Inc.’s holdings in Altria Group were worth $30,748,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MO. Darwin Wealth Management LLC acquired a new stake in Altria Group in the second quarter valued at $27,000. Country Trust Bank lifted its holdings in Altria Group by 400.0% during the 2nd quarter. Country Trust Bank now owns 500 shares of the company’s stock worth $29,000 after buying an additional 400 shares during the period. Anfield Capital Management LLC grew its position in shares of Altria Group by 334.7% in the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after buying an additional 415 shares during the last quarter. Winnow Wealth LLC acquired a new stake in shares of Altria Group in the second quarter valued at about $35,000. Finally, Physician Wealth Advisors Inc. increased its stake in shares of Altria Group by 634.5% in the third quarter. Physician Wealth Advisors Inc. now owns 639 shares of the company’s stock valued at $42,000 after buying an additional 552 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Trading Up 0.0%

Shares of MO stock opened at $65.42 on Friday. The firm has a fifty day simple moving average of $59.69 and a two-hundred day simple moving average of $61.97. Altria Group, Inc. has a 12 month low of $52.40 and a 12 month high of $68.60. The firm has a market capitalization of $109.82 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 3.60 and a beta of 0.47.

Altria Group (NYSE:MO) last issued its quarterly earnings data 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). The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 earnings per share. On average, equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend was Friday, December 26th. Altria Group’s dividend payout ratio is presently 103.16%.

Altria Group declared that its board has authorized a share buyback plan on Thursday, October 30th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently commented on MO. 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. Argus upgraded shares of Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Finally, UBS Group upped their price objective on shares of Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.56.

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.