Vestcor Inc Has $28.73 Million Stock Position in Altria Group, Inc. $MO

Vestcor Inc lessened its holdings in Altria Group, Inc. (NYSE:MO) by 3.3% in the third quarter, HoldingsChannel reports. The fund owned 434,858 shares of the company’s stock after selling 14,704 shares during the period. Altria Group accounts for 0.9% of Vestcor Inc’s portfolio, making the stock its 14th largest position. Vestcor Inc’s holdings in Altria Group were worth $28,727,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MO. Brighton Jones LLC increased its holdings in shares of Altria Group by 64.7% during the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock worth $926,000 after purchasing an additional 6,954 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of Altria Group by 86.3% in the second quarter. Sivia Capital Partners LLC now owns 6,361 shares of the company’s stock valued at $373,000 after buying an additional 2,946 shares during the period. Schnieders Capital Management LLC. boosted its stake in shares of Altria Group by 6.9% in the second quarter. Schnieders Capital Management LLC. now owns 9,630 shares of the company’s stock valued at $565,000 after buying an additional 618 shares during the period. Savant Capital LLC grew its position in Altria Group by 8.0% during the second quarter. Savant Capital LLC now owns 111,061 shares of the company’s stock worth $6,511,000 after buying an additional 8,273 shares in the last quarter. Finally, KCM Investment Advisors LLC grew its position in Altria Group by 48.0% during the second quarter. KCM Investment Advisors LLC now owns 13,315 shares of the company’s stock worth $781,000 after buying an additional 4,320 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Down 0.7%

NYSE:MO opened at $66.48 on Monday. The stock’s 50-day simple moving average is $63.25 and its 200 day simple moving average is $62.58. The firm has a market capitalization of $111.15 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 2.84 and a beta of 0.45. Altria Group, Inc. has a twelve month low of $52.82 and a twelve month high of $70.51.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The firm’s revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $1.30 EPS. On average, analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Wednesday, March 25th. Altria Group’s dividend payout ratio is currently 103.16%.

Analyst Upgrades and Downgrades

MO has been the subject of several analyst reports. Barclays lifted their price objective on Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. Jefferies Financial Group increased their target price on Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a report on Wednesday, March 4th. Citigroup raised their price target on Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Argus raised Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Finally, UBS Group upped their price objective on shares of Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Altria Group currently has a consensus rating of “Hold” and a consensus price target of $64.33.

Altria Group Company Profile

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.