Boston Advisors LLC trimmed its stake in shares of Altria Group Inc (NYSE:MO) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 657,646 shares of the company’s stock after selling 4,177 shares during the quarter. Altria Group accounts for 0.9% of Boston Advisors LLC’s portfolio, making the stock its 14th largest holding. Boston Advisors LLC’s holdings in Altria Group were worth $41,708,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MO. Troy Asset Management Ltd boosted its holdings in shares of Altria Group by 0.3% in the 3rd quarter. Troy Asset Management Ltd now owns 3,623,600 shares of the company’s stock worth $229,809,000 after acquiring an additional 9,950 shares in the last quarter. Sky Investment Group LLC boosted its holdings in shares of Altria Group by 4.7% in the 3rd quarter. Sky Investment Group LLC now owns 24,486 shares of the company’s stock worth $1,553,000 after acquiring an additional 1,100 shares in the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of Altria Group by 2.6% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 157,137 shares of the company’s stock worth $9,966,000 after acquiring an additional 3,963 shares in the last quarter. WESPAC Advisors LLC boosted its holdings in shares of Altria Group by 9.0% in the 3rd quarter. WESPAC Advisors LLC now owns 12,770 shares of the company’s stock worth $810,000 after acquiring an additional 1,055 shares in the last quarter. Finally, Independent Franchise Partners LLP boosted its holdings in shares of Altria Group by 2.4% in the 3rd quarter. Independent Franchise Partners LLP now owns 2,503,264 shares of the company’s stock worth $158,757,000 after acquiring an additional 58,249 shares in the last quarter. 62.62% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on MO shares. Vetr downgraded Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 target price on the stock. in a report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Wednesday, October 11th. Piper Jaffray Companies restated a “buy” rating and issued a $76.00 price objective on shares of Altria Group in a research report on Friday, October 27th. Cowen restated a “hold” rating on shares of Altria Group in a research report on Sunday, September 10th. Finally, Berenberg Bank upgraded shares of Altria Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $60.01 to $71.00 in a research report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $72.57.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 26th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. analysts expect that Altria Group Inc will post 3.28 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Wednesday, December 20th. Altria Group’s payout ratio is 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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