Oak Harbor Wealth Partners LLC Sells 475 Shares of Altria Group, Inc. (NYSE:MO)

Oak Harbor Wealth Partners LLC trimmed its holdings in shares of Altria Group, Inc. (NYSE:MO) by 8.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,901 shares of the company’s stock after selling 475 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Altria Group were worth $223,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of MO. Capital Research Global Investors grew its position in Altria Group by 1.9% in the fourth quarter. Capital Research Global Investors now owns 13,279,658 shares of the company’s stock valued at $535,701,000 after acquiring an additional 242,442 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Altria Group by 120.6% during the first quarter. Van ECK Associates Corp now owns 8,762,047 shares of the company’s stock valued at $382,201,000 after purchasing an additional 4,789,788 shares in the last quarter. LSV Asset Management boosted its stake in shares of Altria Group by 15.2% during the fourth quarter. LSV Asset Management now owns 4,681,943 shares of the company’s stock valued at $188,870,000 after purchasing an additional 617,900 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Altria Group by 24.4% during the fourth quarter. Victory Capital Management Inc. now owns 4,674,441 shares of the company’s stock valued at $188,567,000 after purchasing an additional 915,478 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Altria Group by 1.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,754,522 shares of the company’s stock worth $163,772,000 after acquiring an additional 54,096 shares during the period. 57.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

MO has been the topic of a number of research reports. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Bank of America upped their target price on Altria Group from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Barclays increased their price target on Altria Group from $37.00 to $43.00 and gave the company an “underweight” rating in a research report on Wednesday. Argus raised Altria Group to a “hold” rating in a research report on Friday, May 31st. Finally, Stifel Nicolaus raised their target price on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $47.08.

Altria Group Stock Performance

Shares of Altria Group stock traded up $0.58 on Friday, hitting $51.32. The company’s stock had a trading volume of 7,722,716 shares, compared to its average volume of 10,574,669. Altria Group, Inc. has a 1 year low of $39.06 and a 1 year high of $51.40. The firm has a fifty day moving average price of $47.94 and a 200-day moving average price of $44.70. The company has a market capitalization of $88.15 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, analysts forecast that Altria Group, Inc. will post 5.11 EPS for the current year.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.