Brown Brothers Harriman & Co. Sells 106,310 Shares of Altria Group, Inc. (NYSE:MO)

Brown Brothers Harriman & Co. decreased its position in shares of Altria Group, Inc. (NYSE:MO) by 42.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 144,153 shares of the company’s stock after selling 106,310 shares during the period. Brown Brothers Harriman & Co.’s holdings in Altria Group were worth $6,566,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Maryland Capital Advisors Inc. grew its position in shares of Altria Group by 154.4% during the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after purchasing an additional 349 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in Altria Group during the second quarter worth approximately $27,000. BNP Paribas purchased a new stake in Altria Group during the first quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new position in shares of Altria Group in the 2nd quarter worth approximately $30,000. Finally, Westend Capital Management LLC bought a new position in shares of Altria Group during the 1st quarter valued at approximately $29,000. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Argus upgraded Altria Group to a “hold” rating in a report on Friday, May 31st. Stifel Nicolaus lifted their price objective on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Bank of America upped their target price on shares of Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, UBS Group boosted their price target on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $49.67.

Altria Group Stock Down 2.4 %

NYSE MO opened at $51.70 on Tuesday. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $54.95. The company has a 50 day moving average price of $51.00 and a 200 day moving average price of $46.57. The firm has a market cap of $88.80 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the prior year, the company posted $1.31 EPS. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.89%. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is currently 85.36%.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.