Sumitomo Mitsui Trust Holdings Inc. lifted its position in Altria Group Inc (NYSE:MO) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,909,082 shares of the company’s stock after purchasing an additional 39,482 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.31% of Altria Group worth $374,754,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. HighPoint Advisor Group LLC lifted its position in shares of Altria Group by 7.6% during the third quarter. HighPoint Advisor Group LLC now owns 56,242 shares of the company’s stock worth $3,594,000 after purchasing an additional 3,964 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Altria Group by 7.6% in the third quarter. Bank of New York Mellon Corp now owns 21,970,538 shares of the company’s stock valued at $1,393,372,000 after acquiring an additional 1,561,120 shares in the last quarter. Sigma Planning Corp raised its holdings in Altria Group by 5.0% in the third quarter. Sigma Planning Corp now owns 121,761 shares of the company’s stock valued at $7,722,000 after acquiring an additional 5,850 shares in the last quarter. Rhumbline Advisers raised its holdings in Altria Group by 1.6% in the third quarter. Rhumbline Advisers now owns 2,915,635 shares of the company’s stock valued at $184,910,000 after acquiring an additional 45,317 shares in the last quarter. Finally, Advisor Group Inc. raised its holdings in Altria Group by 4.0% in the third quarter. Advisor Group Inc. now owns 386,017 shares of the company’s stock valued at $24,488,000 after acquiring an additional 14,816 shares in the last quarter. 62.95% of the stock is owned by institutional investors.
Shares of Altria Group Inc (NYSE MO) traded down $0.53 during midday trading on Friday, hitting $69.40. 8,617,776 shares of the company’s stock traded hands, compared to its average volume of 7,250,000. The stock has a market cap of $132,430.00, a price-to-earnings ratio of 13.07, a P/E/G ratio of 2.22 and a beta of 0.53. Altria Group Inc has a 52 week low of $60.01 and a 52 week high of $77.79. The company has a quick ratio of 0.48, a current ratio of 0.64 and a debt-to-equity ratio of 0.85.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The business’s revenue was down .4% on a year-over-year basis. equities research analysts forecast that Altria Group Inc will post 4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Thursday, December 21st were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.80%. The ex-dividend date was Wednesday, December 20th. Altria Group’s payout ratio is 49.72%.
Altria Group announced that its board has approved a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several analysts recently weighed in on the stock. Berenberg Bank reissued a “hold” rating on shares of Altria Group in a report on Tuesday, October 31st. Vetr cut shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.89 price objective on the stock. in a report on Monday, October 30th. Piper Jaffray Companies raised their target price on shares of Altria Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research report on Tuesday, October 31st. Finally, Jefferies Group set a $72.00 target price on shares of Altria Group and gave the stock a “hold” rating in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Altria Group currently has an average rating of “Buy” and a consensus price target of $72.79.
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Altria Group Profile
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include 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 cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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