Cypress Capital Group cut its stake in shares of Altria Group Inc (NYSE:MO) by 8.7% during the second quarter, HoldingsChannel.com reports. The firm owned 107,039 shares of the company’s stock after selling 10,259 shares during the quarter. Altria Group makes up approximately 1.3% of Cypress Capital Group’s portfolio, making the stock its 22nd largest holding. Cypress Capital Group’s holdings in Altria Group were worth $6,079,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in MO. Morgan Stanley raised its position in Altria Group by 49.6% during the second quarter. Morgan Stanley now owns 16,461,864 shares of the company’s stock valued at $934,869,000 after buying an additional 5,454,989 shares during the period. FMR LLC raised its position in Altria Group by 14.1% during the second quarter. FMR LLC now owns 37,263,858 shares of the company’s stock valued at $2,116,214,000 after buying an additional 4,613,088 shares during the period. BlackRock Inc. raised its position in Altria Group by 3.4% during the second quarter. BlackRock Inc. now owns 138,589,215 shares of the company’s stock valued at $7,870,481,000 after buying an additional 4,581,335 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new position in Altria Group during the second quarter valued at $178,215,000. Finally, Voya Investment Management LLC raised its position in Altria Group by 354.6% during the second quarter. Voya Investment Management LLC now owns 3,883,621 shares of the company’s stock valued at $220,551,000 after buying an additional 3,029,307 shares during the period. 63.27% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on the company. Bank of America set a $70.00 price target on Altria Group and gave the company a “buy” rating in a research report on Thursday. Jefferies Financial Group lowered Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price target on the stock. in a research report on Friday, August 24th. ValuEngine raised Altria Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. Stifel Nicolaus dropped their target price on Altria Group from $78.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Finally, Piper Jaffray Companies set a $75.00 target price on Altria Group and gave the stock a “buy” rating in a research report on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Altria Group has an average rating of “Buy” and a consensus price target of $70.95.
Shares of MO stock opened at $62.07 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.31 and a debt-to-equity ratio of 0.83. Altria Group Inc has a fifty-two week low of $53.91 and a fifty-two week high of $74.38. The stock has a market capitalization of $119.58 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 1.80 and a beta of 0.62.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, July 26th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same period in the prior year, the firm posted $0.85 EPS. The business’s revenue was down 3.7% compared to the same quarter last year. equities research analysts expect that Altria Group Inc will post 4 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 10th. Stockholders of record on Friday, September 14th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 5.16%. The ex-dividend date is Thursday, September 13th. This is an increase from Altria Group’s previous quarterly dividend of $0.70. Altria Group’s dividend payout ratio is 82.84%.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless 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.
Further Reading: Risk Tolerance and Your Investment Decisions
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