Savant Capital LLC increased its stake in Altria Group (NYSE:MO) by 7.4% during the second quarter, Holdings Channel reports. The firm owned 18,846 shares of the company’s stock after buying an additional 1,298 shares during the period. Savant Capital LLC’s holdings in Altria Group were worth $1,300,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised 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 valued at $899,602,000 after buying an additional 3,207,663 shares during the period. Bank of Montreal Can bought a new position in shares of Altria Group during the second quarter valued at approximately $170,990,000. Artemis Investment Management LLP raised its position 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 during the period. TIAA CREF Investment Management LLC raised 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 valued at $716,433,000 after buying an additional 1,437,564 shares during the period. Finally, State Street Corp raised 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 valued at $4,540,692,000 after buying an additional 1,328,172 shares during the period. Institutional investors and hedge funds own 61.24% of the company’s stock.
Shares of Altria Group (NYSE:MO) traded down 0.02% during mid-day trading on Monday, hitting $62.43. 4,040,810 shares of the stock were exchanged. The stock’s 50 day moving average is $63.69 and its 200-day moving average is $65.00. The stock has a market cap of $121.99 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.
Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.01. The firm earned $6.52 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. On average, analysts anticipate that Altria Group will post $3.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Thursday, September 15th were issued a $0.61 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Tuesday, September 13th. Altria Group’s payout ratio is presently 84.72%.
MO has been the subject of several research reports. Zacks Investment Research lowered shares of Altria Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $72.40 price target for the company. in a research note on Monday, August 15th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $69.00 price target (up from $64.00) on shares of Altria Group in a research note on Friday, July 15th. Citigroup Inc. reiterated a “buy” rating and issued a $72.00 price target on shares of Altria Group in a research note on Monday, September 26th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $71.00 price target (up from $65.00) on shares of Altria Group in a research note on Monday, June 27th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $69.36.
In other Altria Group 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 filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $600,120.00. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate 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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