Tokio Marine Asset Management Co. Ltd. decreased its position in Altria Group (NYSE:MO) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,021 shares of the company’s stock after selling 1,094 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Altria Group were worth $3,863,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. CIBC World Markets Inc. increased its position in shares of Altria Group by 24.8% in the first quarter. CIBC World Markets Inc. now owns 469,038 shares of the company’s stock worth $29,390,000 after buying an additional 93,218 shares in the last quarter. Hyman Charles D bought a new position in shares of Altria Group during the first quarter worth about $9,092,000. Northern Oak Wealth Management Inc. increased its position in shares of Altria Group by 0.7% in the first quarter. Northern Oak Wealth Management Inc. now owns 101,243 shares of the company’s stock worth $6,344,000 after buying an additional 679 shares in the last quarter. Cortland Associates Inc. MO increased its position in shares of Altria Group by 0.3% in the first quarter. Cortland Associates Inc. MO now owns 5,714 shares of the company’s stock worth $358,000 after buying an additional 15 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of Altria Group by 25.2% in the first quarter. IFP Advisors Inc now owns 228,853 shares of the company’s stock worth $14,340,000 after buying an additional 46,068 shares in the last quarter. Institutional investors own 61.29% of the company’s stock.
Altria Group (NYSE:MO) traded down 0.40% during midday trading on Friday, hitting $62.44. 4,716,586 shares of the company traded hands. The company has a market cap of $122.01 billion, a PE ratio of 21.68 and a beta of 0.52. Altria Group has a 12-month low of $56.15 and a 12-month high of $70.15. The stock has a 50 day moving average price of $63.79 and a 200-day moving average price of $64.96.
Altria Group (NYSE:MO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.01. The business earned $6.52 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. Analysts expect that Altria Group will post $3.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Thursday, September 15th were paid a $0.61 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $2.44 annualized dividend and a dividend yield of 3.91%. Altria Group’s payout ratio is presently 84.72%.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Monday, July 11th. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $77.35 target price for the company in a report on Wednesday, July 20th. Goldman Sachs Group Inc. restated a “neutral” rating and set a $69.00 target price (up from $64.00) on shares of Altria Group in a report on Friday, July 15th. Argus set a $73.00 target price on shares of Altria Group and gave the company a “buy” rating in a report on Monday, August 1st. Finally, Stifel Nicolaus restated a “buy” rating and set a $71.00 target price (up from $65.00) on shares of Altria Group in a report on Monday, June 27th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Altria Group presently has a consensus rating of “Buy” and a consensus target price of $69.44.
In related news, SVP James E. Dillard III sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total value of $600,120.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Charles N. Whitaker sold 11,000 shares of the business’s stock in a transaction that occurred 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. 0.15% of the stock is owned by corporate insiders.
Altria Group Company Profile
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.
Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group (NYSE:MO).
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.