Sumitomo Life Insurance Co. lowered its stake in Altria Group (NYSE:MO) by 2.9% during the first quarter, Holdings Channel reports. The institutional investor owned 77,847 shares of the company’s stock after selling 2,341 shares during the period. Altria Group accounts for 0.8% of Sumitomo Life Insurance Co.’s holdings, making the stock its 25th largest position. Sumitomo Life Insurance Co.’s holdings in Altria Group were worth $5,560,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of MO. Advantage Investment Management LLC bought a new stake in shares of Altria Group during the fourth quarter worth $116,000. CLS Investments LLC raised its stake in shares of Altria Group by 251.9% in the fourth quarter. CLS Investments LLC now owns 1,777 shares of the company’s stock worth $120,000 after buying an additional 1,272 shares in the last quarter. Feltz Wealth PLAN Inc. bought a new stake in shares of Altria Group during the first quarter worth $134,000. Acropolis Investment Management LLC raised its stake in shares of Altria Group by 0.3% in the first quarter. Acropolis Investment Management LLC now owns 1,939 shares of the company’s stock worth $138,000 after buying an additional 5 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Altria Group by 3.4% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,005 shares of the company’s stock worth $136,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.
Altria Group (NYSE:MO) opened at 77.28 on Friday. The company has a market cap of $149.85 billion, a P/E ratio of 10.46 and a beta of 0.66. Altria Group has a 52 week low of $60.82 and a 52 week high of $77.29. The company’s 50-day moving average is $72.97 and its 200-day moving average is $71.42.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.01. Altria Group had a return on equity of 76.43% and a net margin of 55.99%. The company had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter last year, the company posted $0.72 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts anticipate that Altria Group will post $3.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Shareholders of record on Thursday, June 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $2.44 annualized dividend and a yield of 3.16%. Altria Group’s dividend payout ratio (DPR) is presently 33.02%.
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MO has been the topic of a number of research analyst reports. Barclays PLC restated an “equal weight” rating and issued a $74.00 target price on shares of Altria Group in a research report on Wednesday, March 29th. Vetr upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $74.89 target price on the stock in a research report on Monday, April 3rd. Jefferies Group LLC set a $71.00 target price on shares of Altria Group and gave the company a “hold” rating in a research report on Friday, February 17th. Finally, Royal Bank Of Canada lowered shares of Altria Group from a “sector perform” rating to an “underperform” rating and set a $62.00 target price on the stock. in a research report on Thursday, March 23rd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Altria Group presently has a consensus rating of “Hold” and an average price target of $72.35.
In other Altria Group news, Director Dinyar S. Devitre sold 4,285 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $70.72, for a total value of $303,035.20. Following the completion of the transaction, the director now directly owns 112,457 shares in the company, valued at approximately $7,952,959.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Munoz sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $72.35, for a total transaction of $361,750.00. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.
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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