Arizona State Retirement System boosted its holdings in shares of Altria Group Inc (NYSE:MO) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 467,249 shares of the company’s stock after buying an additional 2,335 shares during the quarter. Arizona State Retirement System’s holdings in Altria Group were worth $28,180,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in MO. LFA Lugano Financial Advisors SA acquired a new stake in shares of Altria Group in the 3rd quarter valued at $103,000. IMA Wealth Inc. acquired a new stake in shares of Altria Group in the 2nd quarter valued at $106,000. BerganKDV Wealth Management LLC acquired a new stake in shares of Altria Group in the 2nd quarter valued at $123,000. BDO Wealth Advisors LLC raised its holdings in shares of Altria Group by 165.5% in the 2nd quarter. BDO Wealth Advisors LLC now owns 2,222 shares of the company’s stock valued at $126,000 after purchasing an additional 1,385 shares in the last quarter. Finally, Landaas & Co. WI ADV acquired a new stake in shares of Altria Group in the 2nd quarter valued at $137,000. Institutional investors and hedge funds own 63.23% of the company’s stock.
In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 25th. The company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.01. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a net margin of 42.13% and a return on equity of 48.31%. On average, research analysts forecast that Altria Group Inc will post 3.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Friday, September 14th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.92%. This is an increase from Altria Group’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, September 13th. Altria Group’s dividend payout ratio (DPR) is 94.67%.
MO has been the topic of a number of analyst reports. Argus raised their price objective on shares of Altria Group from $70.00 to $71.00 and gave the company a “buy” rating in a report on Monday. Piper Jaffray Companies set a $75.00 price objective on shares of Altria Group and gave the company a “buy” rating in a report on Tuesday, October 23rd. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Tuesday, September 25th. Stifel Nicolaus reduced their price objective on shares of Altria Group from $78.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Finally, Bank of America set a $70.00 price objective on shares of Altria Group and gave the company a “buy” rating in a report on Thursday, September 13th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $69.87.
Altria Group 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.
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