JPMorgan Chase & Co. Grows Stock Position in Altria Group, Inc. $MO

JPMorgan Chase & Co. boosted its position in Altria Group, Inc. (NYSE:MO) by 7.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,073,682 shares of the company’s stock after buying an additional 814,665 shares during the period. JPMorgan Chase & Co. owned approximately 0.72% of Altria Group worth $797,587,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D boosted its holdings in shares of Altria Group by 4.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 590,853 shares of the company’s stock valued at $39,032,000 after acquiring an additional 25,171 shares in the last quarter. Calton & Associates Inc. boosted its holdings in Altria Group by 20.7% in the 3rd quarter. Calton & Associates Inc. now owns 5,427 shares of the company’s stock valued at $359,000 after purchasing an additional 932 shares in the last quarter. Uhlmann Price Securities LLC increased its position in Altria Group by 6.2% during the 3rd quarter. Uhlmann Price Securities LLC now owns 3,962 shares of the company’s stock worth $262,000 after purchasing an additional 231 shares during the period. HighTower Advisors LLC raised its stake in shares of Altria Group by 1.8% during the 3rd quarter. HighTower Advisors LLC now owns 2,704,860 shares of the company’s stock worth $178,680,000 after buying an additional 47,340 shares in the last quarter. Finally, Uniting Wealth Partners LLC lifted its holdings in shares of Altria Group by 18.3% in the 3rd quarter. Uniting Wealth Partners LLC now owns 9,694 shares of the company’s stock valued at $651,000 after buying an additional 1,501 shares during the period. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Down 1.1%

Shares of MO opened at $66.54 on Wednesday. The business’s 50 day moving average is $60.77 and its two-hundred day moving average is $62.27. The firm has a market cap of $111.70 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 3.71 and a beta of 0.47. Altria Group, Inc. has a 52-week low of $52.46 and a 52-week high of $68.60.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 EPS. On average, equities analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group announced that its board has authorized a stock repurchase program on Thursday, October 30th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 1.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend was Friday, December 26th. Altria Group’s dividend payout ratio is currently 103.16%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MO. UBS Group upped their price objective on Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Citigroup raised their price objective on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Argus raised shares of Altria Group to a “hold” rating in a report on Tuesday, January 13th. Finally, Stifel Nicolaus decreased their price target on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.67.

About Altria Group

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.