Asahi Life Asset Management CO. LTD. raised its stake in shares of Altria Group, Inc. (NYSE:MO – Get Rating) by 46.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,700 shares of the company’s stock after acquiring an additional 3,370 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Altria Group were worth $432,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Altria Group by 0.8% in the 2nd quarter. State Street Corp now owns 71,065,920 shares of the company’s stock worth $3,029,586,000 after buying an additional 546,935 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Altria Group by 6.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 36,302,349 shares of the company’s stock worth $1,896,798,000 after buying an additional 2,178,596 shares during the last quarter. Northern Trust Corp lifted its position in shares of Altria Group by 0.9% in the 2nd quarter. Northern Trust Corp now owns 18,220,521 shares of the company’s stock worth $761,072,000 after buying an additional 161,289 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Altria Group by 0.3% in the 2nd quarter. Legal & General Group Plc now owns 11,443,608 shares of the company’s stock worth $478,003,000 after buying an additional 38,986 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Altria Group by 132.7% in the 2nd quarter. Renaissance Technologies LLC now owns 8,775,416 shares of the company’s stock worth $366,549,000 after buying an additional 5,003,900 shares during the last quarter. 58.68% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on MO. Cowen raised their price target on shares of Altria Group to $47.00 in a research report on Tuesday, November 1st. UBS Group cut shares of Altria Group from a “neutral” rating to a “sell” rating and set a $38.00 price objective on the stock. in a report on Thursday, November 10th. Morgan Stanley increased their price objective on shares of Altria Group from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Thursday, January 19th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Altria Group in a report on Monday, October 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $46.91.
Altria Group Stock Up 0.2 %
Altria Group (NYSE:MO – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.03). The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.59 billion. Altria Group had a negative return on equity of 345.98% and a net margin of 18.61%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 EPS. On average, equities research analysts predict that Altria Group, Inc. will post 4.84 earnings per share for the current year.
Altria Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 10th. Stockholders of record on Thursday, December 22nd were paid a $0.94 dividend. The ex-dividend date was Wednesday, December 21st. This represents a $3.76 annualized dividend and a dividend yield of 8.38%. Altria Group’s dividend payout ratio is currently 146.30%.
Altria Group Company Profile
Altria Group, Inc operates as a holding company, which engages in the manufacture and sale of cigarettes in the United States. It operates through the following segments: Smokeable Products, Oral tobacco products, and Wine. The Smokeable Products segment consists of cigarettes manufactured and sold by PM USA and machine-made large cigars and pipe tobacco manufactured and sold by Middleton.
- Get a free copy of the StockNews.com research report on Altria Group (MO)
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