M&T Bank Corp grew its holdings in Altria Group Inc (NYSE:MO) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,322,959 shares of the company’s stock after acquiring an additional 8,530 shares during the period. M&T Bank Corp’s holdings in Altria Group were worth $94,473,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Altria Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock worth $10,129,659,000 after purchasing an additional 2,690,270 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Altria Group by 7.6% in the second 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 last quarter. Capital World Investors increased its holdings in shares of Altria Group by 27.6% in the second 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 last quarter. Bank of New York Mellon Corp increased its holdings in shares of Altria Group by 7.6% in the third 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 last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Altria Group by 5.3% in the second 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 last quarter. Institutional investors and hedge funds own 62.77% of the company’s stock.
MO has been the topic of several research reports. Vetr cut Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.65 target price on the stock. in a report on Monday, November 13th. Jefferies Group set a $72.00 target price on Altria Group and gave the stock a “hold” rating in a report on Friday, November 17th. Berenberg Bank raised Altria Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $60.01 to $71.00 in a report on Tuesday, December 19th. Zacks Investment Research cut Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Finally, Wells Fargo & Co lifted their target price on Altria Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $73.66.
Shares of Altria Group Inc (NYSE MO) opened at $65.77 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.64. Altria Group Inc has a 52 week low of $60.01 and a 52 week high of $77.79. The firm has a market capitalization of $124,764.48, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.91 and a beta of 0.63.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.11. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The company had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. equities analysts predict that Altria Group Inc will post 4 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.70 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Wednesday, March 14th. Altria Group’s payout ratio is presently 49.62%.
Altria Group declared that its board has approved a share repurchase plan on Thursday, February 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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About Altria Group
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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