Parthenon Lowers stake in Altria Group Inc (MO)

Altria Group Inc (MO) : Parthenon reduced its stake in Altria Group Inc by 6.54% during the most recent quarter end. The investment management company now holds a total of 71,421 shares of Altria Group Inc which is valued at $4,767,352 after selling 5,000 shares in Altria Group Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Altria Group Inc makes up approximately 1.18% of Parthenon’s portfolio.

Other Hedge Funds, Including , Seaward Management Limited Partnership boosted its stake in MO in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 3,740 shares of Altria Group Inc which is valued at $249,645. Altria Group Inc makes up approx 0.01% of Seaward Management Limited Partnership’s portfolio. Simplex Trading sold out all of its stake in MO during the most recent quarter. The investment firm sold 7,673 shares of MO which is valued $529,514.

Altria Group Inc opened for trading at $67.2 and hit $68.05 on the upside on Friday, eventually ending the session at $67.7, with a gain of 0.88% or 0.59 points. The heightened volatility saw the trading volume jump to 61,47,685 shares. Company has a market cap of $132,276 M.

On the company’s financial health, Altria Group Inc reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.80. The company had revenue of $6521.00 million for the quarter, compared to analysts expectations of $5013.61 million. The company’s revenue was down -1.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.74 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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