Teacher Retirement System of Texas lessened its position in Altria Group Inc (NYSE:MO) by 24.2% in the 1st quarter, HoldingsChannel reports. The firm owned 1,512,525 shares of the company’s stock after selling 482,288 shares during the period. Altria Group accounts for approximately 0.7% of Teacher Retirement System of Texas’ investment portfolio, making the stock its 19th biggest holding. Teacher Retirement System of Texas’ holdings in Altria Group were worth $86,864,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Litman Gregory Asset Management LLC acquired a new position in shares of Altria Group in the fourth quarter valued at approximately $30,000. Country Trust Bank boosted its holdings in shares of Altria Group by 86.9% in the first quarter. Country Trust Bank now owns 514 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the period. Transamerica Financial Advisors Inc. boosted its holdings in shares of Altria Group by 627.6% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 713 shares of the company’s stock valued at $36,000 after buying an additional 615 shares during the period. James Investment Research Inc. acquired a new position in shares of Altria Group in the first quarter valued at approximately $43,000. Finally, Clarfeld Financial Advisors LLC acquired a new position in shares of Altria Group in the fourth quarter valued at approximately $44,000. 64.49% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Jody L. Begley sold 3,250 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $53.38, for a total transaction of $173,485.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $52.48, for a total transaction of $104,960.00. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
Several research firms have recently weighed in on MO. ValuEngine cut shares of Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Citigroup set a $45.00 price target on shares of Altria Group and gave the company a “sell” rating in a report on Friday, April 26th. Morgan Stanley upped their price target on shares of Altria Group from $45.00 to $49.00 and gave the company an “underweight” rating in a report on Monday, April 15th. Zacks Investment Research upgraded shares of Altria Group from a “sell” rating to a “hold” rating in a report on Monday, April 8th. Finally, TheStreet upgraded shares of Altria Group from a “c+” rating to a “b-” rating in a report on Friday, March 29th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Altria Group currently has a consensus rating of “Hold” and a consensus target price of $61.91.
Shares of MO opened at $50.86 on Friday. Altria Group Inc has a 12 month low of $42.40 and a 12 month high of $66.04. The firm has a market cap of $95.81 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44. The company has a quick ratio of 0.39, a current ratio of 0.62 and a debt-to-equity ratio of 1.92.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, April 25th. The company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.02). Altria Group had a return on equity of 49.42% and a net margin of 24.87%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the previous year, the company posted $0.95 EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities research analysts predict that Altria Group Inc will post 4.17 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 6.29%. The ex-dividend date of this dividend is Thursday, June 13th. Altria Group’s payout ratio is 80.20%.
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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.
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