Trustcore Financial Services LLC lifted its holdings in shares of Altria Group Inc (NYSE:MO) by 24.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,546 shares of the company’s stock after acquiring an additional 1,855 shares during the quarter. Trustcore Financial Services LLC’s holdings in Altria Group were worth $452,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. FMR LLC grew its holdings in Altria Group by 68.1% during the first quarter. FMR LLC now owns 78,710,352 shares of the company’s stock valued at $4,520,337,000 after purchasing an additional 31,883,878 shares during the period. Geode Capital Management LLC grew its holdings in Altria Group by 8.3% during the fourth quarter. Geode Capital Management LLC now owns 24,928,440 shares of the company’s stock valued at $1,229,235,000 after purchasing an additional 1,908,626 shares during the period. Janus Henderson Group PLC grew its holdings in Altria Group by 5.4% during the first quarter. Janus Henderson Group PLC now owns 18,216,899 shares of the company’s stock valued at $1,046,193,000 after purchasing an additional 926,612 shares during the period. Dimensional Fund Advisors LP grew its holdings in Altria Group by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,006,715 shares of the company’s stock valued at $296,655,000 after purchasing an additional 93,073 shares during the period. Finally, American Century Companies Inc. grew its holdings in Altria Group by 9.1% during the fourth quarter. American Century Companies Inc. now owns 3,535,176 shares of the company’s stock valued at $174,602,000 after purchasing an additional 294,006 shares during the period. 64.23% of the stock is owned by institutional investors.
A number of equities analysts have recently commented on the company. Citigroup set a $45.00 price target on Altria Group and gave the stock a “sell” rating in a report on Friday, April 26th. ValuEngine lowered Altria Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Royal Bank of Canada set a $68.00 price target on Altria Group and gave the stock a “buy” rating in a report on Wednesday, July 31st. Zacks Investment Research raised Altria Group from a “sell” rating to a “hold” rating in a report on Monday, April 8th. Finally, Goldman Sachs Group lowered Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 price target for the company. in a report on Friday, July 12th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $61.07.
NYSE:MO traded down $0.60 during trading hours on Tuesday, hitting $46.05. 2,110,492 shares of the company’s stock traded hands, compared to its average volume of 6,869,918. The company has a market cap of $87.15 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.50 and a beta of 0.38. Altria Group Inc has a 52 week low of $42.40 and a 52 week high of $66.04. The company has a fifty day moving average of $49.00. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.10. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Altria Group had a return on equity of 51.53% and a net margin of 25.04%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $1.01 earnings per share. As a group, equities research analysts anticipate that Altria Group Inc will post 4.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 14th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 6.95%. The ex-dividend date of this dividend was Thursday, June 13th. Altria Group’s dividend payout ratio is 80.20%.
Altria Group announced that its board has initiated a stock buyback plan on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 1.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
About Altria Group
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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