Prudential Financial Inc. increased its stake in shares of Altria Group (NYSE:MO) by 4.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,316,384 shares of the company’s stock after buying an additional 249,318 shares during the period. Altria Group makes up 0.6% of Prudential Financial Inc.’s holdings, making the stock its 28th largest position. Prudential Financial Inc. owned 0.27% of Altria Group worth $366,618,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC raised its position in Altria Group by 11.3% in the second quarter. Private Advisor Group LLC now owns 202,787 shares of the company’s stock valued at $14,135,000 after buying an additional 20,577 shares during the period. Hancock Holding Co. raised its position in shares of Altria Group by 9.7% in the second quarter. Hancock Holding Co. now owns 21,243 shares of the company’s stock worth $1,465,000 after buying an additional 1,872 shares during the period. TLP Group LLC acquired a new position in shares of Altria Group during the second quarter worth about $573,000. Dimensional Fund Advisors LP raised its position in shares of Altria Group by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,804,301 shares of the company’s stock worth $262,316,000 after buying an additional 48,567 shares during the period. Finally, First Personal Financial Services raised its position in shares of Altria Group by 66.3% in the second quarter. First Personal Financial Services now owns 1,603 shares of the company’s stock worth $111,000 after buying an additional 639 shares during the period. 61.29% of the stock is owned by institutional investors.
Shares of Altria Group (NYSE:MO) opened at 63.23 on Friday. The stock has a market cap of $123.55 billion, a price-to-earnings ratio of 21.95 and a beta of 0.48. Altria Group has a 12-month low of $55.01 and a 12-month high of $70.15. The stock has a 50 day moving average price of $65.00 and a 200-day moving average price of $64.95.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 22.05% and a return on equity of 198.82%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the company posted $0.74 earnings per share. Equities analysts anticipate that Altria Group will post $3.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Thursday, September 15th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.86%. This is a positive change from Altria Group’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, September 13th. Altria Group’s dividend payout ratio (DPR) is 84.72%.
A number of research firms have weighed in on MO. Citigroup Inc. restated a “buy” rating and issued a $72.00 target price on shares of Altria Group in a research report on Monday, September 26th. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.67 target price for the company. in a research report on Thursday, September 22nd. Jefferies Group began coverage on Altria Group in a research report on Wednesday, September 21st. They issued a “hold” rating and a $70.00 target price for the company. Credit Agricole SA cut their target price on Altria Group from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, September 15th. Finally, Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Thursday, August 4th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $69.44.
In other Altria Group news, SVP Charles N. Whitaker sold 11,000 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James E. Dillard III sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $66.68, for a total transaction of $600,120.00. The disclosure for this sale can be found here. 0.15% of the stock is currently 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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