BB&T Corp reduced its stake in shares of Altria Group Inc (NYSE:MO) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,888 shares of the company’s stock after selling 21,805 shares during the period. BB&T Corp’s holdings in Altria Group were worth $22,571,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in MO. Morningstar Investment Services LLC grew its holdings in Altria Group by 0.5% during the 1st quarter. Morningstar Investment Services LLC now owns 1,165,651 shares of the company’s stock worth $83,251,000 after acquiring an additional 5,812 shares in the last quarter. LLBH Private Wealth Management LLC acquired a new position in Altria Group during the 1st quarter worth $484,000. Karp Capital Management Corp acquired a new position in shares of Altria Group in the 1st quarter valued at about $104,292,000. First Foundation Advisors boosted its holdings in shares of Altria Group by 2.6% in the 1st quarter. First Foundation Advisors now owns 444,425 shares of the company’s stock valued at $31,741,000 after buying an additional 11,136 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Altria Group by 61.1% in the 1st quarter. Sei Investments Co. now owns 649,651 shares of the company’s stock valued at $46,398,000 after buying an additional 246,506 shares during the period. 62.62% of the stock is owned by institutional investors.
Several research analysts have recently commented on the stock. Berenberg Bank raised shares of Altria Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $60.01 to $71.00 in a report on Tuesday. Vetr lowered shares of Altria Group from a “hold” rating to a “sell” rating and set a $67.97 price target for the company. in a report on Monday, December 11th. Jefferies Group set a $72.00 price target on shares of Altria Group and gave the company a “hold” rating in a report on Friday, November 17th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $76.00 price target on shares of Altria Group in a report on Friday, October 27th. Finally, Zacks Investment Research lowered shares of Altria Group from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Altria Group presently has a consensus rating of “Hold” and an average price target of $72.57.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.03. The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. Altria Group’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm posted $0.82 EPS. equities analysts predict that Altria Group Inc will post 3.28 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Thursday, December 21st will be given a $0.66 dividend. The ex-dividend date is Wednesday, December 20th. This represents a $2.64 annualized dividend and a yield of 3.67%. Altria Group’s dividend payout ratio is presently 33.04%.
About Altria Group
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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