Nissay Asset Management Corp Japan ADV reduced its position in Altria Group, Inc. (NYSE:MO – Free Report) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 203,134 shares of the company’s stock after selling 7,994 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Altria Group were worth $9,064,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Berkeley Capital Partners LLC increased its holdings in Altria Group by 9.9% in the first quarter. Berkeley Capital Partners LLC now owns 21,535 shares of the company’s stock valued at $961,000 after buying an additional 1,941 shares during the last quarter. MV Capital Management Inc. grew its holdings in shares of Altria Group by 440.5% during the first quarter. MV Capital Management Inc. now owns 4,789 shares of the company’s stock valued at $214,000 after purchasing an additional 3,903 shares during the last quarter. Cascade Investment Group Inc. bought a new position in shares of Altria Group during the fourth quarter valued at approximately $1,156,000. Tocqueville Asset Management L.P. grew its holdings in shares of Altria Group by 7.0% during the first quarter. Tocqueville Asset Management L.P. now owns 9,136 shares of the company’s stock valued at $408,000 after purchasing an additional 601 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. grew its holdings in shares of Altria Group by 2.1% during the first quarter. Farmers & Merchants Investments Inc. now owns 12,906 shares of the company’s stock valued at $576,000 after purchasing an additional 270 shares during the last quarter. 58.94% of the stock is owned by institutional investors.
Analysts Set New Price Targets
MO has been the subject of several recent research reports. Jefferies Financial Group lowered their target price on Altria Group from $56.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. StockNews.com initiated coverage on Altria Group in a report on Thursday, August 17th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Altria Group has a consensus rating of “Hold” and an average target price of $47.50.
Altria Group Trading Up 0.8 %
Shares of NYSE MO opened at $44.08 on Monday. The stock has a 50 day simple moving average of $44.54 and a 200-day simple moving average of $45.13. The company has a market cap of $78.22 billion, a PE ratio of 11.57, a P/E/G ratio of 2.33 and a beta of 0.59. Altria Group, Inc. has a 12-month low of $40.35 and a 12-month high of $51.57.
Altria Group (NYSE:MO – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $1.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.31. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.43 billion. Altria Group had a negative return on equity of 225.61% and a net margin of 27.40%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. Sell-side analysts forecast that Altria Group, Inc. will post 5 earnings per share for the current fiscal year.
Altria Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 8.89%. This is an increase from Altria Group’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Thursday, September 14th. Altria Group’s dividend payout ratio is 98.69%.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; moist smokeless tobacco products and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; and on! oral nicotine pouches.
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