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

Shell Asset Management Co. cut its holdings in shares of Altria Group, Inc. (NYSE:MO) by 36.2% during the 3rd quarter, HoldingsChannel reports. The fund 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.

Other institutional investors also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in Altria Group during the second quarter valued at about $27,000. Country Trust Bank lifted its stake in shares of Altria Group by 400.0% in the 2nd quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after acquiring an additional 400 shares during the last quarter. Anfield Capital Management LLC boosted its holdings in Altria Group by 334.7% during the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after acquiring an additional 415 shares during the period. Winnow Wealth LLC bought a new position in Altria Group during the 2nd quarter worth approximately $35,000. Finally, Physician Wealth Advisors Inc. increased its stake in Altria Group by 634.5% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 639 shares of the company’s stock worth $42,000 after purchasing an additional 552 shares during the period. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Trading Up 0.3%

Shares of Altria Group stock 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 P/E ratio of 16.36, a PEG ratio of 3.71 and a beta of 0.47. The company’s fifty day simple moving average is $60.42 and its two-hundred day simple moving average is $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 for the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the previous year, the firm posted $1.30 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

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

Altria Group declared that its board has initiated a share repurchase program on Thursday, October 30th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

MO has been the subject of a number of analyst reports. Citigroup increased their price objective on Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Stifel Nicolaus dropped their price target on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Argus raised shares of Altria Group to a “hold” rating in a report on Tuesday, January 13th. Finally, UBS Group upped their price objective on shares of Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.67.

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.