ING Groep NV cut its position in shares of Altria Group (NYSE:MO) by 39.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 232,670 shares of the company’s stock after selling 154,593 shares during the period. ING Groep NV’s holdings in Altria Group were worth $16,045,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in 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. Bank of Montreal Can purchased a new stake in shares of Altria Group during the second quarter valued at $170,990,000. Artemis Investment Management LLP boosted its stake in shares of Altria Group by 335.8% in the second quarter. Artemis Investment Management LLP now owns 3,078,676 shares of the company’s stock valued at $212,320,000 after buying an additional 2,372,165 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake 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 valued at $716,433,000 after buying an additional 1,437,564 shares in the last quarter. Finally, State Street Corp boosted its stake 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 valued at $4,540,692,000 after buying an additional 1,328,172 shares in the last quarter. 61.29% of the stock is owned by institutional investors and hedge funds.
Altria Group (NYSE:MO) traded down 0.40% during trading on Friday, reaching $62.44. The company’s stock had a trading volume of 4,716,586 shares. Altria Group has a 12 month low of $56.15 and a 12 month high of $70.15. The company’s 50-day moving average is $63.79 and its 200-day moving average is $64.96. The stock has a market cap of $122.01 billion, a PE ratio of 21.68 and a beta of 0.52.
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 Zacks’ 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 firm earned $6.52 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts expect that Altria Group will post $3.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 11th. Shareholders of record on Thursday, September 15th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Tuesday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s dividend payout ratio (DPR) is 84.72%.
MO has been the subject of several recent research reports. 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 for the company. in a report on Monday, August 15th. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $69.00 price objective (up from $64.00) on shares of Altria Group in a report on Friday, July 15th. Citigroup Inc. reissued a “buy” rating and set a $72.00 price objective on shares of Altria Group in a report on Monday, September 26th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $71.00 price objective (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 given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $69.44.
In other Altria Group news, SVP James E. Dillard III sold 9,000 shares of the firm’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 the SEC website. Also, SVP Charles N. Whitaker sold 11,000 shares of the firm’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 company 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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