Robeco Institutional Asset Management B.V. boosted its stake in Altria Group (NYSE:MO) by 6.0% during the second quarter, Holdings Channel reports. The institutional investor owned 1,932,109 shares of the company’s stock after buying an additional 109,612 shares during the period. Altria Group comprises approximately 1.0% of Robeco Institutional Asset Management B.V.’s investment portfolio, making the stock its 12th largest position. Robeco Institutional Asset Management B.V.’s holdings in Altria Group were worth $133,238,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. First PREMIER Bank bought a new stake in shares of Altria Group during the second quarter worth $103,000. CapWealth Advisors LLC increased its stake in shares of Altria Group by 6.3% in the first quarter. CapWealth Advisors LLC now owns 2,073 shares of the company’s stock worth $130,000 after buying an additional 123 shares during the period. Adirondack Trust Co. increased its stake in shares of Altria Group by 3.1% in the second quarter. Adirondack Trust Co. now owns 2,808 shares of the company’s stock worth $194,000 after buying an additional 85 shares during the period. Barnett & Company Inc. bought a new stake in shares of Altria Group during the first quarter worth $180,000. Finally, Baker Boyer National Bank bought a new stake in shares of Altria Group during the second quarter worth $207,000. 61.29% of the stock is owned by institutional investors and hedge funds.
Altria Group (NYSE:MO) traded up 0.65% during midday trading on Friday, reaching $63.23. 6,599,878 shares of the company’s stock traded hands. The company has a market cap of $123.55 billion, a P/E ratio of 21.95 and a beta of 0.48. The stock has a 50-day moving average of $65.00 and a 200 day moving average of $64.95. Altria Group has a 52-week low of $55.01 and a 52-week high of $70.15.
Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.01. The company 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%. Altria Group’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 earnings per share. On average, analysts anticipate that Altria Group will post $3.05 earnings per share for the current fiscal year.
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Tuesday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s payout ratio is presently 84.72%.
A number of brokerages have weighed in on MO. Berenberg Bank began coverage on shares of Altria Group in a report on Tuesday, June 14th. They issued a “buy” rating and a $74.00 price target for the company. Zacks Investment Research downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Vetr raised shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.87 price target for the company in a report on Monday, September 12th. Jefferies Group began coverage on shares of Altria Group in a research note on Wednesday, September 21st. They issued a “hold” rating and a $70.00 price objective for the company. Finally, Stifel Nicolaus restated a “buy” rating and issued a $71.00 price objective (up previously 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 given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $69.44.
In other news, SVP Charles N. Whitaker sold 11,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $66.53, for a total value of $731,830.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James E. Dillard III sold 9,000 shares of the business’s stock in a transaction dated 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 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.
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