Shell Asset Management Co. Sells 23,549 Shares of Altria Group, Inc. $MO

Shell Asset Management Co. cut its position in Altria Group, Inc. (NYSE:MO) by 36.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,471 shares of the company’s stock after selling 23,549 shares during the quarter. Shell Asset Management Co.’s holdings in Altria Group were worth $2,740,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MO. Brighton Jones LLC increased its stake in shares of Altria Group by 64.7% in the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock worth $926,000 after purchasing an additional 6,954 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Altria Group by 86.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 6,361 shares of the company’s stock worth $373,000 after buying an additional 2,946 shares during the period. Stratos Wealth Partners LTD. grew its stake in Altria Group by 7.5% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 63,278 shares of the company’s stock valued at $3,710,000 after buying an additional 4,429 shares in the last quarter. Chevy Chase Trust Holdings LLC raised its holdings in Altria Group by 0.5% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 919,185 shares of the company’s stock valued at $53,892,000 after acquiring an additional 4,636 shares during the period. Finally, Hoese & Co LLP lifted its position in shares of Altria Group by 125.0% during the second quarter. Hoese & Co LLP now owns 3,600 shares of the company’s stock worth $211,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MO. UBS Group lifted their price target on Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Stifel Nicolaus decreased their price target on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Argus upgraded shares of Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Finally, Citigroup boosted 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 investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.67.

Altria Group Trading Up 0.3%

Shares of MO opened at $67.23 on Friday. Altria Group, Inc. has a 12-month low of $52.46 and a 12-month high of $68.60. The company has a market cap of $112.85 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 3.71 and a beta of 0.47. The stock has a 50-day moving average price of $60.42 and a 200-day moving average price of $62.19.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the prior year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend was Friday, December 26th. Altria Group’s dividend payout ratio is currently 103.16%.

Altria Group declared that its Board of Directors has authorized a share buyback plan on Thursday, October 30th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.