Financial Architects Inc increased its stake in Altria Group (NYSE:MO) by 11.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,913 shares of the company’s stock after buying an additional 1,469 shares during the period. Financial Architects Inc’s holdings in Altria Group were worth $960,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Altria Group by 28.8% in the first quarter. Wellington Management Group LLP now owns 14,356,887 shares of the company’s stock worth $899,602,000 after buying an additional 3,207,663 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Altria Group by 14.4% in the first quarter. TIAA CREF Investment Management LLC now owns 11,433,664 shares of the company’s stock worth $716,433,000 after buying an additional 1,437,564 shares in the last quarter. 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. AXA boosted its position in shares of Altria Group by 53.6% in the first quarter. AXA now owns 2,980,988 shares of the company’s stock worth $186,789,000 after buying an additional 1,040,012 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Altria Group by 72.5% in the first quarter. Canada Pension Plan Investment Board now owns 2,235,430 shares of the company’s stock worth $140,072,000 after buying an additional 939,331 shares in the last quarter. Institutional investors and hedge funds own 61.29% of the company’s stock.
Altria Group (NYSE:MO) traded down 0.39% during trading on Friday, reaching $63.87. The company had a trading volume of 4,428,499 shares. The firm’s 50 day moving average is $65.49 and its 200 day moving average is $64.92. Altria Group has a one year low of $53.68 and a one year high of $70.15. The company has a market capitalization of $124.80 billion, a PE ratio of 22.18 and a beta of 0.48.
Altria Group (NYSE:MO) last announced its quarterly earnings data 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. Altria Group had a return on equity of 198.82% and a net margin of 22.05%. The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Altria Group will post $3.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 3.82%. This is an increase from Altria Group’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, September 13th. Altria Group’s payout ratio is presently 84.72%.
A number of analysts recently issued reports on the company. Zacks Investment Research cut Altria Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Vetr cut Altria Group from a “strong-buy” rating to a “buy” rating and set a $72.40 price objective on the stock. in a report on Monday, August 15th. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $69.00 price objective (up previously from $64.00) on shares of Altria Group in a report on Friday, July 15th. Berenberg Bank assumed coverage on Altria Group in a report on Tuesday, June 14th. They set a “buy” rating and a $74.00 price objective on the stock. Finally, Citigroup Inc. assumed coverage on Altria Group in a report on Monday, September 12th. They set a “buy” rating and a $72.00 price objective on the stock. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Altria Group currently has an average rating of “Buy” and a consensus price target of $69.44.
In related news, SVP Charles N. Whitaker sold 11,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $66.53, for a total value of $731,830.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP James E. Dillard III sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $66.68, for a total value of $600,120.00. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.
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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