Sheaff Brock Investment Advisors LLC Sells 1,298 Shares of Altria Group Inc (NYSE:MO)

Sheaff Brock Investment Advisors LLC decreased its position in shares of Altria Group Inc (NYSE:MO) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,926 shares of the company’s stock after selling 1,298 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Altria Group were worth $3,974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Country Trust Bank boosted its position in Altria Group by 86.9% during the first quarter. Country Trust Bank now owns 514 shares of the company’s stock valued at $30,000 after purchasing an additional 239 shares in the last quarter. HMS Capital Management LLC bought a new stake in Altria Group during the second quarter valued at about $41,000. James Investment Research Inc. bought a new stake in Altria Group during the first quarter valued at about $43,000. Creative Financial Designs Inc. ADV boosted its position in Altria Group by 113.4% during the first quarter. Creative Financial Designs Inc. ADV now owns 783 shares of the company’s stock valued at $45,000 after purchasing an additional 416 shares in the last quarter. Finally, Interactive Financial Advisors boosted its position in Altria Group by 166.7% during the first quarter. Interactive Financial Advisors now owns 800 shares of the company’s stock valued at $46,000 after purchasing an additional 500 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $52.48, for a total value of $104,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Citigroup set a $45.00 price objective on Altria Group and gave the company a “sell” rating in a research report on Friday, April 26th. ValuEngine downgraded Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Wells Fargo & Co reissued a “buy” rating on shares of Altria Group in a report on Friday. Royal Bank of Canada set a $68.00 price target on Altria Group and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley lowered their price target on Altria Group from $48.00 to $44.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Altria Group currently has a consensus rating of “Hold” and an average price target of $60.74.

NYSE MO traded up $0.87 during trading on Tuesday, hitting $46.85. The company’s stock had a trading volume of 3,450,694 shares, compared to its average volume of 7,867,879. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $86.23 billion, a P/E ratio of 11.74, a PEG ratio of 1.45 and a beta of 0.38. The firm’s 50 day moving average is $48.55. Altria Group Inc has a fifty-two week low of $42.40 and a fifty-two week high of $66.04.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.10. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period last year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, research analysts forecast that Altria Group Inc will post 4.17 earnings per share for the current fiscal year.

Altria Group declared that its Board of Directors has initiated a stock repurchase program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 1.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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