First Mercantile Trust Co Lowers stake in Altria Group Inc (MO)

Altria Group Inc (MO) : First Mercantile Trust Co reduced its stake in Altria Group Inc by 33.7% during the most recent quarter end. The investment management company now holds a total of 13,148 shares of Altria Group Inc which is valued at $814,124 after selling 6,682 shares in Altria Group Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Altria Group Inc makes up approximately 0.11% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in MO by selling 7,532 shares or 1.49% in the most recent quarter. The Hedge Fund company now holds 498,889 shares of MO which is valued at $30,891,207. Altria Group Inc makes up approx 0.65% of Exxonmobil Investment Management Inc Tx’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in MO by selling 592,861 shares or 52.2% in the most recent quarter. The Hedge Fund company now holds 542,789 shares of MO which is valued at $33,229,543. Altria Group Inc makes up approx 0.14% of Bnp Paribas Arbitrage Sa’s portfolio.Bath Savings Trust Co reduced its stake in MO by selling 625 shares or 4.51% in the most recent quarter. The Hedge Fund company now holds 13,224 shares of MO which is valued at $809,573. Altria Group Inc makes up approx 0.26% of Bath Savings Trust Co’s portfolio.

Altria Group Inc opened for trading at $62.08 and hit $62.33 on the upside on Friday, eventually ending the session at $61.92, with a gain of 0.23% or 0.14 points. The heightened volatility saw the trading volume jump to 63,15,259 shares. Company has a market cap of $120,983 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. Jefferies Initiated Altria Group Inc on Sep 21, 2016 to “Hold”, Price Target of the shares are set at $70.Citigroup Initiated Altria Group Inc on Sep 13, 2016 to “Buy”, Price Target of the shares are set at $72.

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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