Arrowstreet Capital Limited Partnership Cuts Stake in Altria Group, Inc. $MO

Arrowstreet Capital Limited Partnership trimmed its position in Altria Group, Inc. (NYSE:MO) by 28.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,797,675 shares of the company’s stock after selling 5,546,557 shares during the quarter. Altria Group comprises about 0.6% of Arrowstreet Capital Limited Partnership’s investment portfolio, making the stock its 28th biggest position. Arrowstreet Capital Limited Partnership owned about 0.82% of Altria Group worth $911,474,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kercheville Advisors LLC raised its stake in shares of Altria Group by 3.7% in the third quarter. Kercheville Advisors LLC now owns 4,397 shares of the company’s stock valued at $290,000 after acquiring an additional 156 shares during the period. Founders Grove Wealth Partners LLC grew its position in shares of Altria Group by 2.9% in the 3rd quarter. Founders Grove Wealth Partners LLC now owns 5,781 shares of the company’s stock worth $382,000 after buying an additional 165 shares during the last quarter. Generali Asset Management SPA SGR increased its position in Altria Group by 0.3% during the 3rd quarter. Generali Asset Management SPA SGR now owns 50,805 shares of the company’s stock valued at $3,356,000 after buying an additional 170 shares in the last quarter. Zullo Investment Group Inc. boosted its stake in Altria Group by 2.4% in the 3rd quarter. Zullo Investment Group Inc. now owns 7,386 shares of the company’s stock worth $488,000 after purchasing an additional 175 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Altria Group by 0.9% during the third quarter. Blue Trust Inc. now owns 19,819 shares of the company’s stock worth $1,309,000 after purchasing an additional 179 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Charles N. Whitaker sold 27,908 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.08% of the company’s stock.

Altria Group Price Performance

MO opened at $67.63 on Friday. The stock’s 50 day simple moving average is $64.00 and its 200 day simple moving average is $62.63. Altria Group, Inc. has a 1-year low of $52.82 and a 1-year high of $70.51. The stock has a market cap of $113.07 billion, a P/E ratio of 16.46, a P/E/G ratio of 2.83 and a beta of 0.45.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.Altria Group’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 EPS. Research analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

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

Wall Street Analyst Weigh In

MO has been the topic of several research analyst reports. Barclays raised their price objective on Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. Argus raised shares of Altria Group to a “hold” rating in a research note on Tuesday, January 13th. UBS Group boosted 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. Citigroup boosted their price target on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Finally, Stifel Nicolaus reduced 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. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Altria Group presently has an average rating of “Hold” and an average target price of $65.11.

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.