Altria Group (NYSE:MO) Position Decreased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Altria Group (NYSE:MO) by 4.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 819,510 shares of the company’s stock after selling 38,250 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Altria Group were worth $61,029,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Baystate Wealth Management LLC increased its holdings in shares of Altria Group by 0.3% in the second quarter. Baystate Wealth Management LLC now owns 3,675 shares of the company’s stock worth $270,000 after purchasing an additional 10 shares during the period. Strategic Financial Group LLC grew its position in Altria Group by 0.4% in the first quarter. Strategic Financial Group LLC now owns 3,293 shares of the company’s stock worth $235,000 after acquiring an additional 14 shares in the last quarter. Lafayette Investments Inc. grew its position in Altria Group by 0.7% in the first quarter. Lafayette Investments Inc. now owns 3,863 shares of the company’s stock worth $276,000 after acquiring an additional 25 shares in the last quarter. AT Bancorp grew its position in Altria Group by 0.3% in the first quarter. AT Bancorp now owns 10,545 shares of the company’s stock worth $753,000 after acquiring an additional 29 shares in the last quarter. Finally, JJJ Advisors Inc. grew its position in Altria Group by 0.8% in the first quarter. JJJ Advisors Inc. now owns 3,702 shares of the company’s stock worth $264,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 62.30% of the company’s stock.

In related news, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $61.22, for a total transaction of $1,959,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on the stock. Vetr raised shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price objective for the company in a research note on Monday, November 6th. Zacks Investment Research downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Edward Jones upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. Berenberg Bank reiterated a “hold” rating on shares of Altria Group in a report on Tuesday, October 31st. Finally, Citigroup Inc. reduced their price target on shares of Altria Group from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Altria Group presently has an average rating of “Buy” and an average target price of $72.06.

Shares of Altria Group (NYSE MO) traded up $0.51 during trading on Friday, reaching $65.02. 4,997,900 shares of the company’s stock were exchanged, compared to its average volume of 6,786,148. The firm has a market cap of $123,097.34, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. Altria Group has a twelve month low of $60.01 and a twelve month high of $77.79.

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

Altria Group announced that its board has authorized a share repurchase program on Thursday, July 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 0.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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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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