Park Avenue Securities LLC grew its holdings in Altria Group Inc (NYSE:MO) by 25.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,559 shares of the company’s stock after buying an additional 2,566 shares during the period. Altria Group comprises 0.2% of Park Avenue Securities LLC’s portfolio, making the stock its 27th biggest holding. Park Avenue Securities LLC’s holdings in Altria Group were worth $790,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in shares of Altria Group by 21,647.0% during the 2nd quarter. Janus Henderson Group PLC now owns 19,831,702 shares of the company’s stock valued at $1,476,867,000 after purchasing an additional 19,740,509 shares during the period. BlackRock Inc. raised its position in shares of Altria Group by 7.6% during the 2nd quarter. BlackRock Inc. now owns 127,525,988 shares of the company’s stock valued at $9,496,859,000 after purchasing an additional 8,969,677 shares during the period. Capital World Investors raised its position in shares of Altria Group by 27.6% during the 2nd quarter. Capital World Investors now owns 41,157,755 shares of the company’s stock valued at $3,065,018,000 after purchasing an additional 8,914,575 shares during the period. Vanguard Group Inc. raised its position in shares of Altria Group by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock valued at $10,129,659,000 after purchasing an additional 2,690,270 shares during the period. Finally, APG Asset Management N.V. raised its position in shares of Altria Group by 67.7% during the 3rd quarter. APG Asset Management N.V. now owns 4,893,005 shares of the company’s stock valued at $310,314,000 after purchasing an additional 1,974,500 shares during the period. Institutional investors and hedge funds own 62.64% of the company’s stock.
MO has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Wednesday, October 11th. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 price target on shares of Altria Group in a report on Friday, October 27th. Vetr upgraded shares of Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 price target on the stock in a report on Tuesday, October 24th. Berenberg Bank upgraded shares of Altria Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $60.01 to $71.00 in a report on Tuesday, December 19th. Finally, UBS Group reduced their price target on shares of Altria Group from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $72.71.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the company posted $0.82 EPS. The business’s revenue was down 1.8% on a year-over-year basis. sell-side analysts anticipate that Altria Group Inc will post 3.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st were paid a $0.66 dividend. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.71%. Altria Group’s payout ratio is currently 33.04%.
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Altria Group Company Profile
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. 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 cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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