Altria Group Inc (NYSE:MO) has seen a decrease in enthusiasm from smart money lately.
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Now, it’s important to take a look at the recent action surrounding Altria Group Inc (NYSE:MO).
How have hedgies been trading Altria Group Inc (NYSE:MO)?
At the end of the first quarter, a total of 30 of the hedge funds we track were bullish in this stock, a change of -3% from one quarter earlier. With the smart money’s capital changing hands, there exists an “upper tier” of key hedge fund managers who were upping their stakes meaningfully.
Of the funds we track, Gardner Russo & Gardner, managed by Tom Russo, holds the biggest position in Altria Group Inc (NYSE:MO). Gardner Russo & Gardner has a $253.1 million position in the stock, comprising 3% of its 13F portfolio. The second largest stake is held by Phill Gross and Robert Atchinson of Adage Capital Management, with a $77.7 million position; 0.3% of its 13F portfolio is allocated to the stock. Remaining hedgies with similar optimism include David Winters’s Wintergreen Advisers, Cliff Asness’s AQR Capital Management and Jim Simons’s Renaissance Technologies.
Judging by the fact that Altria Group Inc (NYSE:MO) has witnessed falling interest from the entirety of the hedge funds we track, logic holds that there were a few money managers that decided to sell off their positions entirely at the end of the first quarter. Interestingly, Daniel S. Och’s OZ Management said goodbye to the largest stake of the 450+ funds we watch, worth an estimated $12.1 million in stock., and Murray Stahl of Horizon Asset Management was right behind this move, as the fund cut about $0.9 million worth. These transactions are important to note, as aggregate hedge fund interest was cut by 1 funds at the end of the first quarter.
Insider trading activity in Altria Group Inc (NYSE:MO)
Insider buying is best served when the primary stock in question has experienced transactions within the past 180 days. Over the latest half-year time period, Altria Group Inc (NYSE:MO) has experienced zero unique insiders purchasing, and 3 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Altria Group Inc (NYSE:MO). These stocks are Vector Group Ltd (NYSE:VGR), Lorillard Inc. (NYSE:LO), Reynolds American, Inc. (NYSE:RAI), Philip Morris International Inc. (NYSE:PM), and British American Tobacco PLC (ADR) (NYSEAMEX:BTI). This group of stocks are in the cigarettes industry and their market caps resemble MO’s market cap.