Bp Plc Has $16.76 Million Position in Altria Group (MO)

BP PLC lessened its holdings in shares of Altria Group (NYSE:MO) by 7.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 225,000 shares of the company’s stock after selling 17,000 shares during the quarter. BP PLC’s holdings in Altria Group were worth $16,756,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Financial Advisory Service Inc. grew its position in shares of Altria Group by 3.7% during the second quarter. Financial Advisory Service Inc. now owns 11,566 shares of the company’s stock worth $861,000 after buying an additional 408 shares in the last quarter. Armbruster Capital Management Inc. grew its position in shares of Altria Group by 5.7% during the second quarter. Armbruster Capital Management Inc. now owns 3,391 shares of the company’s stock worth $253,000 after buying an additional 182 shares in the last quarter. Pineno Levin & Ford Asset Management Inc. grew its position in shares of Altria Group by 1.7% during the second quarter. Pineno Levin & Ford Asset Management Inc. now owns 5,831 shares of the company’s stock worth $434,000 after buying an additional 100 shares in the last quarter. Advisor Partners LLC grew its position in shares of Altria Group by 4.1% during the second quarter. Advisor Partners LLC now owns 67,048 shares of the company’s stock worth $4,993,000 after buying an additional 2,653 shares in the last quarter. Finally, Alley Co LLC grew its position in shares of Altria Group by 1.8% during the second quarter. Alley Co LLC now owns 99,529 shares of the company’s stock worth $7,412,000 after buying an additional 1,748 shares in the last quarter. 61.74% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Martin J. Barrington sold 15,300 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $65.03, for a total transaction of $994,959.00. Following the completion of the sale, the chief executive officer now directly owns 701,074 shares in the company, valued at $45,590,842.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dinyar S. Devitre sold 32,000 shares of the stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $61.22, for a total transaction of $1,959,040.00. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

MO has been the topic of several research analyst reports. Cowen and Company reiterated a “hold” rating and issued a $74.00 target price on shares of Altria Group in a research note on Tuesday, July 11th. Zacks Investment Research cut shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. BidaskClub cut shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Jefferies Group LLC restated a “hold” rating and set a $70.00 price objective (down from $71.00) on shares of Altria Group in a research note on Monday, July 17th. Finally, Piper Jaffray Companies set a $76.00 price objective on shares of Altria Group and gave the company a “buy” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $71.71.

Shares of Altria Group (NYSE:MO) opened at 64.92 on Friday. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The company has a 50-day moving average price of $63.54 and a 200 day moving average price of $69.11. The firm has a market capitalization of $125.17 billion, a price-to-earnings ratio of 8.56 and a beta of 0.64.

Altria Group (NYSE:MO) last released its earnings results on Thursday, October 26th. The company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.03. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 earnings per share. Equities research analysts expect that Altria Group will post $3.28 earnings per share for the current fiscal year.

Altria Group announced that its Board of Directors has approved a stock buyback program on Thursday, July 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 0.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 15th were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date was Thursday, September 14th. This is a boost from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s dividend payout ratio is currently 33.04%.

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About Altria Group

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.

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

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