State Board of Administration of Florida Retirement System Has $155.43 Million Stake in Altria Group Inc (MO)

State Board of Administration of Florida Retirement System lowered its holdings in shares of Altria Group Inc (NYSE:MO) by 1.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,577,193 shares of the company’s stock after selling 39,500 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of Altria Group worth $155,431,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Altria Group by 3.4% during the second quarter. BlackRock Inc. now owns 138,589,215 shares of the company’s stock worth $7,870,481,000 after buying an additional 4,581,335 shares during the last quarter. FMR LLC raised its stake in Altria Group by 14.1% during the second quarter. FMR LLC now owns 37,263,858 shares of the company’s stock worth $2,116,214,000 after buying an additional 4,613,088 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Altria Group by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 21,786,839 shares of the company’s stock worth $1,237,273,000 after buying an additional 855,416 shares during the last quarter. Janus Henderson Group PLC raised its stake in Altria Group by 2.6% during the second quarter. Janus Henderson Group PLC now owns 18,492,919 shares of the company’s stock worth $1,050,215,000 after buying an additional 460,964 shares during the last quarter. Finally, Morgan Stanley raised its stake in Altria Group by 49.6% during the second quarter. Morgan Stanley now owns 16,461,864 shares of the company’s stock worth $934,869,000 after buying an additional 5,454,989 shares during the last quarter. 63.23% of the stock is owned by hedge funds and other institutional investors.

MO has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Piper Jaffray Companies set a $75.00 target price on shares of Altria Group and gave the stock a “buy” rating in a research note on Monday, July 23rd. Jefferies Financial Group downgraded shares of Altria Group from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a research note on Friday, August 24th. Argus lifted their target price on shares of Altria Group from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, October 29th. Finally, Citigroup lifted their target price on shares of Altria Group from $59.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, September 21st. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $69.87.

In other news, Director Dinyar S. Devitre sold 3,165 shares of Altria Group stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by company insiders.

MO opened at $63.67 on Friday. Altria Group Inc has a 1-year low of $53.91 and a 1-year high of $74.38. The company has a quick ratio of 0.36, a current ratio of 0.60 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $119.64 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 1.81 and a beta of 0.40.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 25th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.01. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. On average, equities analysts predict that Altria Group Inc will post 3.99 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Friday, September 14th were issued a dividend of $0.80 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Thursday, September 13th. Altria Group’s dividend payout ratio (DPR) is currently 94.67%.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

Further Reading: What is a Leveraged Buyout (LBO)?

Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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