Mechanics Bank Trust Department Lowers stake in Altria Group Inc (MO)

Altria Group Inc (MO) : Mechanics Bank Trust Department reduced its stake in Altria Group Inc by 1.61% during the most recent quarter end. The investment management company now holds a total of 159,647 shares of Altria Group Inc which is valued at $11,017,239 after selling 2,620 shares in Altria Group Inc , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Altria Group Inc makes up approximately 3.95% of Mechanics Bank Trust Department’s portfolio.

Other Hedge Funds, Including , Davenport Co reduced its stake in MO by selling 3,460 shares or 0.39% in the most recent quarter. The Hedge Fund company now holds 873,001 shares of MO which is valued at $60,306,909. Altria Group Inc makes up approx 0.89% of Davenport Co’s portfolio.Chicago Trust Co Na reduced its stake in MO by selling 3,432 shares or 9.94% in the most recent quarter. The Hedge Fund company now holds 31,090 shares of MO which is valued at $2,171,015. Altria Group Inc makes up approx 0.92% of Chicago Trust Co Na’s portfolio.

Altria Group Inc closed down -0.21 points or -0.30% at $69.01 with 42,72,271 shares getting traded on Wednesday. Post opening the session at $69.24, the shares hit an intraday low of $68.86 and an intraday high of $69.36 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Altria Group Inc reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.68. The company had revenue of $3923.00 million for the quarter, compared to analysts expectations of $4423.15 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on Altria Group Inc. Company shares were Reiterated by Stifel on Jun 27, 2016 to “Buy”, Firm has raised the Price Target to $ 71 from a previous price target of $65 .Berenberg Initiated Altria Group Inc on Jun 14, 2016 to “Buy”, Price Target of the shares are set at $74.

Altria Group Inc. is a holding company. The Company’s reportable segments include smokeable products smokeless products and wine. As of December 31 2014 Altria Group Inc.’s wholly owned subsidiaries included Philip Morris USA Inc. (PM USA) which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co. (Middleton) which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco and is a wholly owned subsidiary of PM USA and UST LLC (UST) which through its wholly owned subsidiaries including U.S. Smokeless Tobacco Company LLC (USSTC) and Ste. Michelle Wine Estates Ltd. (Ste. Michelle) is engaged in the manufacture and sale of smokeless products and wine.

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