Altria Group, Inc. $MO Stock Holdings Lessened by Cherokee Insurance Co

Cherokee Insurance Co lessened its holdings in shares of Altria Group, Inc. (NYSE:MO) by 20.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,139 shares of the company’s stock after selling 8,700 shares during the period. Cherokee Insurance Co’s holdings in Altria Group were worth $2,189,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MO. Darwin Wealth Management LLC acquired a new position in Altria Group in the second quarter valued at approximately $27,000. Country Trust Bank boosted its position in Altria Group by 400.0% during the 2nd quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Anfield Capital Management LLC boosted its position in Altria Group by 334.7% during the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after purchasing an additional 415 shares during the period. Winnow Wealth LLC bought a new position in Altria Group during the 2nd quarter worth $35,000. Finally, WFA of San Diego LLC acquired a new stake in Altria Group in the second quarter worth $39,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

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

Altria Group Trading Up 0.3%

MO stock opened at $67.23 on Friday. The firm’s 50-day moving average is $60.42 and its two-hundred day moving average is $62.19. The company has a market capitalization of $112.85 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 3.71 and a beta of 0.47. Altria Group, Inc. has a 52 week low of $52.46 and a 52 week high of $68.60.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). The company 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%. Altria Group’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 EPS. On average, equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend was Friday, December 26th. Altria Group’s payout ratio is currently 103.16%.

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

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.