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

Jain Global LLC decreased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 10.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116,474 shares of the company’s stock after selling 13,174 shares during the quarter. 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 institutional investors and hedge funds also recently added to or reduced their stakes in the business. Holocene Advisors LP acquired a new position in shares of Altria Group in the 3rd quarter valued at $13,908,000. Gotham Asset Management LLC increased its position in shares of Altria Group by 55.3% during the 3rd 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 during the last quarter. Focus Partners Wealth increased its position in shares of Altria Group by 163.6% during the 3rd 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 during the last quarter. Fort Point Capital Partners LLC raised its holdings 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 buying an additional 511 shares during the period. Finally, DoubleLine ETF Adviser LP purchased a new stake in Altria Group in the 3rd quarter valued at about $4,181,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Insider Activity at Altria Group

In other news, SVP Charles N. Whitaker sold 27,908 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the sale, the senior vice president owned 180,869 shares of the company’s stock, valued at approximately $12,221,318.33. This represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on MO shares. UBS Group increased their target price 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. Barclays boosted their price target on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Monday, February 23rd. Jefferies Financial Group increased their price objective on shares of Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 4th. Argus upgraded shares of Altria Group to a “hold” rating in a report on Tuesday, January 13th. Finally, Stifel Nicolaus cut their target price 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. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $65.11.

Altria Group Stock Performance

Shares of MO opened at $67.58 on Tuesday. The stock has a market capitalization of $112.99 billion, a PE ratio of 16.44, a P/E/G ratio of 2.90 and a beta of 0.45. Altria Group, Inc. has a 1 year low of $52.82 and a 1 year high of $70.51. The company’s 50-day simple moving average is $64.44 and its 200-day simple moving average is $62.59.

Altria Group (NYSE:MO) last announced its quarterly earnings data 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%. During the same quarter last year, the firm posted $1.30 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be paid a $1.06 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 annualized dividend and a dividend yield of 6.3%. Altria Group’s payout ratio is 103.16%.

About Altria Group

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.