NJ State Employees Deferred Compensation Plan cut its stake in shares of Altria Group Inc (NYSE:MO) by 46.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,000 shares of the company’s stock after selling 30,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Altria Group were worth $2,220,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of MO. Hutner Capital Management Inc. increased its position in Altria Group by 2.7% during the 3rd quarter. Hutner Capital Management Inc. now owns 90,712 shares of the company’s stock worth $5,753,000 after purchasing an additional 2,400 shares during the period. Conning Inc. increased its position in Altria Group by 24.2% during the 3rd quarter. Conning Inc. now owns 484,125 shares of the company’s stock worth $30,703,000 after purchasing an additional 94,412 shares during the period. E&G Advisors LP acquired a new position in Altria Group during the 3rd quarter worth approximately $599,000. Heritage Investors Management Corp increased its position in Altria Group by 1.4% during the 3rd quarter. Heritage Investors Management Corp now owns 200,423 shares of the company’s stock worth $12,711,000 after purchasing an additional 2,675 shares during the period. Finally, Tufton Capital Management increased its position in Altria Group by 2.9% during the 3rd quarter. Tufton Capital Management now owns 53,091 shares of the company’s stock worth $3,367,000 after purchasing an additional 1,500 shares during the period. 62.64% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on MO shares. Jefferies Group set a $72.00 target price on Altria Group and gave the stock a “hold” rating in a research report on Friday, November 17th. Vetr cut Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.65 price target on the stock. in a report on Monday, November 13th. Zacks Investment Research cut Altria Group from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Piper Jaffray Companies restated a “buy” rating and issued a $76.00 price target on shares of Altria Group in a report on Friday, October 27th. Finally, Edward Jones upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. Altria Group has an average rating of “Buy” and a consensus target price of $72.66.
Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 26th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. Altria Group’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 EPS. equities research analysts forecast that Altria Group Inc will post 3.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Wednesday, December 20th. Altria Group’s dividend payout ratio (DPR) is presently 33.04%.
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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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