NorthCoast Asset Management LLC acquired a new stake in shares of Altria Group Inc (NYSE:MO) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 28,162 shares of the company’s stock, valued at approximately $1,786,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Altria Group by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock valued at $10,129,659,000 after buying an additional 2,690,270 shares during the period. BlackRock Inc. boosted 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 worth $9,496,859,000 after purchasing an additional 8,969,677 shares during the period. Capital World Investors boosted 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 worth $3,065,018,000 after purchasing an additional 8,914,575 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Altria Group by 7.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 21,970,538 shares of the company’s stock worth $1,393,372,000 after purchasing an additional 1,561,120 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Altria Group by 5.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 20,802,163 shares of the company’s stock worth $1,550,057,000 after purchasing an additional 1,040,839 shares during the period. 62.64% of the stock is owned by institutional investors.
MO has been the subject of a number of research analyst reports. Cowen raised shares of Altria Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $64.00 to $71.00 in a research report on Tuesday, September 26th. Royal Bank of Canada reaffirmed a “hold” rating and set a $62.00 price objective on shares of Altria Group in a research report on Tuesday, October 3rd. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Wednesday, October 11th. Vetr cut shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.89 price objective for the company. in a research report on Friday, October 13th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $76.00 price objective on shares of Altria Group in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $72.71.
Altria Group (NYSE:MO) last released its earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.03. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. equities analysts predict that Altria Group Inc will post 3.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $2.64 dividend on an annualized basis and a yield of 3.71%. Altria Group’s dividend payout ratio (DPR) is presently 33.04%.
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Altria Group 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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