Altria Group, Inc. $MO Shares Sold by Jain Global LLC

Jain Global LLC reduced its position in shares of Altria Group, Inc. (NYSE:MO) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,474 shares of the company’s stock after selling 13,174 shares during the period. Jain Global LLC’s holdings in Altria Group were worth $7,694,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MO. Holocene Advisors LP purchased a new position in shares of Altria Group in the third quarter valued at approximately $13,908,000. Gotham Asset Management LLC increased its position in shares of Altria Group by 55.3% during the third quarter. Gotham Asset Management LLC now owns 455,332 shares of the company’s stock worth $30,079,000 after purchasing an additional 162,181 shares in the last quarter. Focus Partners Wealth increased its position in shares of Altria Group by 163.6% during the third quarter. Focus Partners Wealth now owns 589,394 shares of the company’s stock worth $39,003,000 after purchasing an additional 365,826 shares in the last quarter. Fort Point Capital Partners LLC raised its stake in Altria Group by 7.4% in the 3rd quarter. Fort Point Capital Partners LLC now owns 7,417 shares of the company’s stock valued at $498,000 after purchasing an additional 511 shares during the last quarter. Finally, DoubleLine ETF Adviser LP acquired a new position in Altria Group in the 3rd quarter valued at $4,181,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 4th. Barclays increased their target price on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Monday, February 23rd. UBS Group raised their price target on shares of Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Argus upgraded shares of Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Finally, Citigroup upped their price objective on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $65.11.

Altria Group Stock Performance

NYSE MO opened at $67.58 on Tuesday. The stock’s fifty day moving average is $64.44 and its two-hundred day moving average is $62.59. The firm has a market capitalization of $112.99 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 2.90 and a beta of 0.45. Altria Group, Inc. has a fifty-two week low of $52.82 and a fifty-two week high of $70.51.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.During the same period last year, the company earned $1.30 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 6.3%. The ex-dividend date is Wednesday, March 25th. Altria Group’s dividend payout ratio (DPR) is presently 103.16%.

Insider Buying and Selling

In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of Altria Group stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the transaction, the senior vice president directly owned 180,869 shares of the company’s stock, valued at $12,221,318.33. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.08% of the stock is owned by company insiders.

Altria Group Company 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.