Rhumbline Advisers Has $178.50 Million Stake in Altria Group, Inc. $MO

Rhumbline Advisers increased its position in Altria Group, Inc. (NYSE:MO) by 1.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,702,117 shares of the company’s stock after buying an additional 49,801 shares during the period. Rhumbline Advisers’ holdings in Altria Group were worth $178,502,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its holdings in shares of Altria Group by 62.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 16,395,070 shares of the company’s stock valued at $954,446,000 after purchasing an additional 6,302,819 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Altria Group during the second quarter worth $126,471,000. Vanguard Group Inc. raised its holdings in Altria Group by 1.0% during the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock valued at $9,364,216,000 after buying an additional 1,599,923 shares in the last quarter. Marshall Wace LLP raised its holdings in Altria Group by 1,094.0% during the second quarter. Marshall Wace LLP now owns 1,158,437 shares of the company’s stock valued at $67,919,000 after buying an additional 1,061,413 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Altria Group by 1.2% in the second quarter. State Street Corp now owns 72,367,263 shares of the company’s stock worth $4,315,438,000 after buying an additional 886,583 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Up 2.4%

Shares of NYSE MO opened at $65.92 on Thursday. Altria Group, Inc. has a 12 month low of $52.40 and a 12 month high of $68.60. The company has a market cap of $110.65 billion, a P/E ratio of 16.04, a P/E/G ratio of 3.55 and a beta of 0.47. The business’s 50 day moving average is $60.06 and its two-hundred day moving average is $62.08.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The company’s revenue was down .5% on a year-over-year basis. Sell-side analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were issued a dividend of $1.06 per share. The ex-dividend date was Friday, December 26th. This represents a $4.24 annualized dividend and a dividend yield of 6.4%. Altria Group’s payout ratio is presently 103.16%.

Altria Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, October 30th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 1.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MO shares. Citigroup increased their price objective on Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday. UBS Group increased their price target on Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a report on Monday, January 26th. Argus raised shares of Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Finally, Stifel Nicolaus decreased their price objective on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a report on Friday, January 30th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Altria Group currently has an average rating of “Hold” and an average target price of $63.67.

About Altria Group

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.