National Asset Management Inc. lessened its position in shares of Altria Group, Inc. (NYSE:MO) by 9.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,411 shares of the company’s stock after selling 10,112 shares during the period. National Asset Management Inc.’s holdings in Altria Group were worth $4,805,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of MO. Centerpoint Advisors LLC lifted its position in shares of Altria Group by 120.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 550 shares of the company’s stock worth $26,000 after buying an additional 300 shares during the last quarter. Mizuho Securities Co. Ltd. lifted its position in shares of Altria Group by 263.3% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 545 shares of the company’s stock worth $28,000 after buying an additional 395 shares during the last quarter. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Altria Group during the 1st quarter worth approximately $33,000. Regency Capital Management Inc. DE purchased a new stake in shares of Altria Group during the 1st quarter worth approximately $35,000. Finally, Vigilant Capital Management LLC purchased a new stake in shares of Altria Group during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 59.44% of the company’s stock.
Several brokerages have recently weighed in on MO. Redburn Partners began coverage on shares of Altria Group in a research report on Thursday, June 17th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $54.00 price target on shares of Altria Group in a research report on Friday, July 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $52.75.
Altria Group (NYSE:MO) last announced its quarterly earnings data on Wednesday, July 28th. The company reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.05. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.36 billion. Altria Group had a net margin of 17.22% and a return on equity of 268.09%. Equities research analysts expect that Altria Group, Inc. will post 4.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 12th. Shareholders of record on Wednesday, September 15th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, September 14th. This represents a $3.60 dividend on an annualized basis and a yield of 7.36%. This is an increase from Altria Group’s previous quarterly dividend of $0.86. Altria Group’s dividend payout ratio is presently 78.90%.
Altria Group Profile
Altria Group, Inc operates as a holding company, which engages in the manufacture and sale of cigarettes in the United States. It operates through the following segments: Smokeable Products, Smokeless Products, and Wine. The Smokeable Products segment comprised of cigarettes manufactured and sold by PM USA and machine-made large cigars and pipe tobacco manufactured and sold by Middleton.
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