Norinchukin Bank The grew its stake in shares of Altria Group, Inc. (NYSE:MO) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 154,636 shares of the company’s stock after purchasing an additional 2,539 shares during the period. Norinchukin Bank The’s holdings in Altria Group were worth $7,911,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. JNBA Financial Advisors grew its position in Altria Group by 158.2% in the 1st quarter. JNBA Financial Advisors now owns 581 shares of the company’s stock valued at $30,000 after purchasing an additional 356 shares during the period. TRU Independence Asset Management 2 LLC acquired a new position in Altria Group during the fourth quarter worth $25,000. Encompass Wealth Advisors LLC bought a new position in shares of Altria Group in the fourth quarter valued at $25,000. Joseph P. Lucia & Associates LLC acquired a new position in shares of Altria Group during the first quarter valued at about $31,000. Finally, Freedman Financial Associates Inc. bought a new stake in shares of Altria Group during the fourth quarter worth about $25,000. Hedge funds and other institutional investors own 60.65% of the company’s stock.
A number of research firms have issued reports on MO. Jefferies Financial Group upgraded Altria Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $40.00 to $58.00 in a research note on Friday, March 26th. Piper Sandler reaffirmed a “buy” rating and set a $57.00 target price on shares of Altria Group in a research report on Monday, April 5th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reissued a “neutral” rating and issued a $46.00 price target on shares of Altria Group in a research report on Monday, March 22nd. Argus reaffirmed a “hold” rating on shares of Altria Group in a report on Tuesday, May 11th. Finally, Morgan Stanley increased their target price on shares of Altria Group from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, May 10th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $51.10.
Altria Group (NYSE:MO) last released its earnings results on Wednesday, April 28th. The company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.03. Altria Group had a net margin of 16.80% and a return on equity of 215.81%. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.98 billion. During the same period in the prior year, the firm earned $1.09 EPS. The company’s revenue was down 4.6% compared to the same quarter last year. Equities analysts predict that Altria Group, Inc. will post 4.57 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 9th. Shareholders of record on Tuesday, June 15th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date of this dividend is Monday, June 14th. Altria Group’s dividend payout ratio is currently 78.90%.
In other news, Director Ellen R. Strahlman bought 2,000 shares of the stock in a transaction on Wednesday, May 26th. The shares were purchased at an average cost of $49.59 per share, for a total transaction of $99,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.07% of the company’s stock.
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, oral tobacco products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.
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