Deltec Asset Management LLC Sells 1,372 Shares of Altria Group, Inc. (NYSE:MO)

Deltec Asset Management LLC reduced its position in shares of Altria Group, Inc. (NYSE:MO) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,278 shares of the company’s stock after selling 1,372 shares during the quarter. Deltec Asset Management LLC’s holdings in Altria Group were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MO. Maryland Capital Advisors Inc. grew its position in shares of Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after buying an additional 349 shares during the period. Accordant Advisory Group Inc acquired a new position in shares of Altria Group during the 1st quarter worth about $26,000. Criterion Capital Advisors LLC acquired a new position in shares of Altria Group during the 4th quarter worth about $27,000. BNP Paribas acquired a new position in shares of Altria Group during the 1st quarter worth about $27,000. Finally, Pineridge Advisors LLC acquired a new position in shares of Altria Group during the 4th quarter worth about $28,000. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Performance

MO traded up $0.08 during trading hours on Wednesday, reaching $51.19. The company’s stock had a trading volume of 5,256,537 shares, compared to its average volume of 10,602,242. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $51.40. The company’s 50-day moving average is $47.67 and its 200-day moving average is $44.50. The firm has a market cap of $87.93 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66.

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

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th were given a $0.98 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.92 annualized dividend and a yield of 7.66%. Altria Group’s dividend payout ratio is presently 82.01%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Argus upgraded Altria Group to a “hold” rating in a research report on Friday, May 31st. Stifel Nicolaus boosted their price objective on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays boosted their price objective on Altria Group from $37.00 to $43.00 and gave the company an “underweight” rating in a research report on Wednesday. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Finally, Bank of America boosted their price objective on Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $47.08.

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.