Municipal Employees Retirement System of Michigan lessened its position in shares of Altria Group Inc (NYSE:MO) by 13.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,850 shares of the company’s stock after selling 13,370 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Altria Group were worth $5,571,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in MO. Janus Henderson Group PLC increased its holdings in Altria Group by 21,647.0% during the 2nd quarter. Janus Henderson Group PLC now owns 19,831,702 shares of the company’s stock worth $1,476,867,000 after purchasing an additional 19,740,509 shares in the last quarter. BlackRock Inc. increased its holdings in Altria Group by 7.6% during the 2nd quarter. BlackRock Inc. now owns 127,525,988 shares of the company’s stock worth $9,496,859,000 after purchasing an additional 8,969,677 shares in the last quarter. Capital World Investors increased its holdings in Altria Group by 27.6% during the 2nd quarter. Capital World Investors now owns 41,157,755 shares of the company’s stock worth $3,065,018,000 after purchasing an additional 8,914,575 shares in the last quarter. Vanguard Group Inc. increased its holdings in Altria Group by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock worth $10,129,659,000 after purchasing an additional 2,690,270 shares in the last quarter. Finally, APG Asset Management N.V. increased its holdings in Altria Group by 67.7% during the 3rd quarter. APG Asset Management N.V. now owns 4,893,005 shares of the company’s stock worth $310,314,000 after purchasing an additional 1,974,500 shares in the last quarter. Hedge funds and other institutional investors own 62.64% of the company’s stock.
MO has been the subject of a number of research reports. Vetr upgraded Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 target price for the company in a report on Tuesday, October 24th. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Wednesday, October 11th. Citigroup decreased their price objective on Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, October 30th. Cowen upgraded Altria Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $64.00 to $71.00 in a report on Tuesday, September 26th. Finally, Jefferies Group set a $72.00 price objective on Altria Group and gave the company a “hold” rating in a report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $72.87.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.03. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the business posted $0.82 EPS. Altria Group’s revenue was down 1.8% on a year-over-year basis. equities analysts predict that Altria Group Inc will post 3.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Thursday, December 21st were paid a $0.66 dividend. The ex-dividend date was Wednesday, December 20th. This represents a $2.64 annualized dividend and a yield of 3.76%. Altria Group’s dividend payout ratio (DPR) is currently 33.00%.
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Altria Group 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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