Pendal Group Ltd decreased its position in shares of Altria Group Inc (NYSE:MO) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,740 shares of the company’s stock after selling 14,656 shares during the period. Pendal Group Ltd’s holdings in Altria Group were worth $7,895,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MO. Bar Harbor Trust Services grew its stake in shares of Altria Group by 21.6% in the 2nd quarter. Bar Harbor Trust Services now owns 4,230 shares of the company’s stock valued at $200,000 after purchasing an additional 750 shares during the last quarter. Blue Chip Partners Inc. grew its stake in shares of Altria Group by 6.5% in the 2nd quarter. Blue Chip Partners Inc. now owns 182,991 shares of the company’s stock valued at $8,665,000 after purchasing an additional 11,164 shares during the last quarter. Cibc Bank USA boosted its stake in shares of Altria Group by 2.1% in the second quarter. Cibc Bank USA now owns 47,406 shares of the company’s stock valued at $2,245,000 after buying an additional 972 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Altria Group in the second quarter valued at approximately $9,753,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Altria Group by 2.8% in the second quarter. Janus Henderson Group PLC now owns 18,731,425 shares of the company’s stock valued at $886,937,000 after buying an additional 514,526 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

A number of analysts recently weighed in on MO shares. Royal Bank of Canada set a $68.00 price target on Altria Group and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Co restated a “buy” rating on shares of Altria Group in a research note on Friday. Morgan Stanley decreased their price target on Altria Group from $48.00 to $44.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Citigroup set a $45.00 price target on Altria Group and gave the company a “sell” rating in a research note on Friday, April 26th. Finally, Goldman Sachs Group downgraded Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price target on the stock. in a research note on Friday, July 12th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $60.74.

In other news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $52.48, for a total value of $104,960.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

MO stock traded up $0.85 during midday trading on Tuesday, hitting $46.83. 326,390 shares of the stock were exchanged, compared to its average volume of 7,867,879. The stock’s 50-day moving average is $48.55. The stock has a market capitalization of $86.23 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.45 and a beta of 0.38. Altria Group Inc has a fifty-two week low of $42.40 and a fifty-two week high of $66.04. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.28 and a current ratio of 0.56.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.10. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. Altria Group’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. Analysts predict that Altria Group Inc will post 4.17 EPS for the current fiscal year.

Altria Group declared that its board has approved a stock buyback plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 1.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Altria Group Company 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.

See Also: Understanding Price to Earnings Ratio (PE)

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

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