Beacon Financial Group Lowers stake in Altria Group Inc (MO)

Altria Group Inc (MO) : Beacon Financial Group reduced its stake in Altria Group Inc by 3.83% during the most recent quarter end. The investment management company now holds a total of 134,569 shares of Altria Group Inc which is valued at $8.5 Million after selling 5,360 shares in Altria Group Inc according to a report filed by the company on Apr 1, 2016 with the SEC.Altria Group Inc makes up approximately 1.83% of Beacon Financial Group’s portfolio.

On the company’s financial health, Altria Group Inc reported $0.67 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jan 28, 2016. Analyst had a consensus of $0.68. The company had revenue of $4729.00 million for the quarter, compared to analysts expectations of $4764.32 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on Altria Group Inc. Altria Group Inc was Downgraded by BofA/Merrill to ” Neutral” on Mar 24, 2016.

Altria Group Inc closed down -0.49 points or -0.77% at $63.31 with 59,28,950 shares getting traded on Monday. Post opening the session at $64.11, the shares hit an intraday low of $63.22 and an intraday high of $64.16 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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