Raab & Moskowitz Asset Management LLC decreased its position in Altria Group Inc (NYSE:MO) by 15.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,860 shares of the company’s stock after selling 2,707 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Altria Group were worth $1,061,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of MO. Janus Henderson Group PLC lifted its position in shares of Altria Group by 21,647.0% in the second quarter. Janus Henderson Group PLC now owns 19,831,702 shares of the company’s stock valued at $1,476,867,000 after acquiring an additional 19,740,509 shares in the last quarter. BlackRock Inc. lifted its position 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 valued at $9,496,859,000 after acquiring an additional 8,969,677 shares in the last quarter. Capital World Investors lifted its position 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 valued at $3,065,018,000 after acquiring an additional 8,914,575 shares in the last quarter. USS Investment Management Ltd purchased a new stake in shares of Altria Group in the fourth quarter valued at $269,661,000. Finally, Vanguard Group Inc. lifted its position in Altria Group by 2.0% during the second quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock worth $10,129,659,000 after buying an additional 2,690,270 shares during the period. 62.57% of the stock is currently owned by institutional investors.
Several equities analysts recently weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $62.00 target price (down from $65.00) on shares of Altria Group in a research report on Monday, February 5th. Vetr upgraded Altria Group from a “hold” rating to a “buy” rating and set a $71.45 target price on the stock in a research report on Monday, February 5th. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Tuesday, February 6th. Argus reiterated a “buy” rating and set a $79.00 target price (up from $66.13) on shares of Altria Group in a research report on Wednesday, March 14th. Finally, Jefferies Group reiterated a “buy” rating and set a $84.00 target price on shares of Altria Group in a research report on Thursday, March 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $74.99.
Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.80 billion. Altria Group had a return on equity of 50.01% and a net margin of 39.97%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS. equities analysts forecast that Altria Group Inc will post 4.01 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Thursday, March 15th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.49%. This is an increase from Altria Group’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, March 14th. Altria Group’s dividend payout ratio (DPR) is 82.84%.
Altria Group declared that its board has approved a share repurchase program on Thursday, February 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, CEO Brian W. Quigley sold 3,464 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $62.40, for a total value of $216,153.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP W Hildebrandt Surgner, Jr. sold 3,200 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $62.34, for a total value of $199,488.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,117 shares of company stock worth $1,821,707. Company insiders own 0.11% of the company’s stock.
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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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