Commerce Bank reduced its stake in Altria Group (NYSE:MO) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 806,481 shares of the company’s stock after selling 13,157 shares during the period. Altria Group comprises approximately 0.9% of Commerce Bank’s portfolio, making the stock its 25th largest position. Commerce Bank’s holdings in Altria Group were worth $55,615,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp boosted its position in shares of Altria Group by 1.9% in the first quarter. State Street Corp now owns 72,465,487 shares of the company’s stock worth $4,540,692,000 after buying an additional 1,328,172 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Altria Group by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 52,621,380 shares of the company’s stock worth $3,297,256,000 after buying an additional 819,082 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Altria Group by 5.4% in the second quarter. Ameriprise Financial Inc. now owns 21,575,613 shares of the company’s stock worth $1,490,203,000 after buying an additional 1,110,112 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Altria Group by 3.7% in the first quarter. BlackRock Group LTD now owns 17,340,810 shares of the company’s stock worth $1,086,574,000 after buying an additional 611,346 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Altria Group by 1.8% in the first quarter. Geode Capital Management LLC now owns 16,102,973 shares of the company’s stock worth $1,006,993,000 after buying an additional 289,813 shares in the last quarter. 61.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Altria Group (NYSE:MO) traded up 1.1567% during trading on Thursday, hitting $64.2345. The stock had a trading volume of 2,402,697 shares. The company has a market cap of $125.51 billion, a PE ratio of 22.3036 and a beta of 0.48. The stock has a 50 day moving average of $65.63 and a 200 day moving average of $64.92. Altria Group has a 12 month low of $53.68 and a 12 month high of $70.15.
Altria Group (NYSE:MO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. The firm had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $5.01 billion. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. Equities analysts forecast that Altria Group will post $3.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th will be paid a $0.61 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Tuesday, September 13th. Altria Group’s dividend payout ratio (DPR) is 84.72%.
A number of research analysts have recently commented on the company. Berenberg Bank assumed coverage on Altria Group in a research report on Tuesday, June 14th. They set a “buy” rating and a $74.00 price target on the stock. Zacks Investment Research lowered Altria Group from a “buy” rating to a “hold” rating in a research note on Monday, July 4th. Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.87 price objective on the stock in a research note on Monday, September 12th. Jefferies Group started coverage on Altria Group in a research note on Wednesday. They set a “hold” rating and a $70.00 price objective on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $71.00 price objective (up from $65.00) on shares of Altria Group in a research note on Monday, June 27th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $69.45.
In related news, SVP James E. Dillard III sold 9,000 shares of Altria Group stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total transaction of $600,120.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Charles N. Whitaker sold 11,000 shares of Altria Group stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $66.53, for a total value of $731,830.00. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.
About Altria Group
Altria Group, Inc is a holding company. 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 large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.
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