Nomura Asset Management Co. Ltd. reduced its position in Altria Group Inc (NYSE:MO) by 4.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 360,854 shares of the company’s stock after selling 14,940 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Altria Group were worth $13,954,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MO. Grimes & Company Inc. increased its stake in shares of Altria Group by 10.1% in the 4th quarter. Grimes & Company Inc. now owns 8,539 shares of the company’s stock valued at $426,000 after buying an additional 781 shares during the period. Retirement Network bought a new position in shares of Altria Group in the 4th quarter worth $1,225,000. 9258 Wealth Management LLC bought a new position in shares of Altria Group in the 4th quarter worth $420,000. Fiera Capital Corp bought a new position in shares of Altria Group in the 4th quarter worth $237,000. Finally, Mutual of Omaha Bank Wealth Management boosted its position in shares of Altria Group by 31.7% in the 4th quarter. Mutual of Omaha Bank Wealth Management now owns 23,560 shares of the company’s stock worth $1,175,000 after purchasing an additional 5,670 shares during the last quarter. 63.68% of the stock is owned by institutional investors.
Shares of MO traded down $1.93 during midday trading on Thursday, hitting $39.89. The stock had a trading volume of 7,611,595 shares, compared to its average volume of 11,601,237. The company has a 50 day simple moving average of $38.51 and a two-hundred day simple moving average of $43.77. Altria Group Inc has a twelve month low of $30.95 and a twelve month high of $52.46. The firm has a market cap of $78.84 billion, a price-to-earnings ratio of -85.35, a price-to-earnings-growth ratio of 1.98 and a beta of 0.44. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.71 and a quick ratio of 0.53.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.11. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.51 billion. Altria Group had a positive return on equity of 84.55% and a negative net margin of 3.33%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. Analysts forecast that Altria Group Inc will post 4.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 8.42%. The ex-dividend date is Friday, June 12th. Altria Group’s dividend payout ratio is currently 79.62%.
Several research firms have recently issued reports on MO. Deutsche Bank reduced their price target on Altria Group from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Stifel Nicolaus restated a “buy” rating and issued a $52.00 price target on shares of Altria Group in a research report on Monday. Morgan Stanley upgraded Altria Group from an “equal weight” rating to an “overweight” rating and set a $49.00 price target on the stock in a research report on Monday, March 16th. Panmure Gordon upgraded Altria Group from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Friday, April 3rd. Finally, Jefferies Financial Group reiterated a “neutral” rating and set a $34.00 target price on shares of Altria Group in a report on Thursday, April 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $50.79.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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