World Asset Management Inc Reduces Holdings in Altria Group Inc (MO)
World Asset Management Inc trimmed its holdings in shares of Altria Group Inc (NYSE:MO) by 0.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 123,967 shares of the company’s stock after selling 903 shares during the period. World Asset Management Inc’s holdings in Altria Group were worth $7,476,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of MO. Morgan Stanley raised its holdings in shares of Altria Group by 49.6% during the second quarter. Morgan Stanley now owns 16,461,864 shares of the company’s stock worth $934,869,000 after purchasing an additional 5,454,989 shares during the period. FMR LLC raised its holdings in shares of Altria Group by 14.1% during the second quarter. FMR LLC now owns 37,263,858 shares of the company’s stock worth $2,116,214,000 after purchasing an additional 4,613,088 shares during the period. BlackRock Inc. raised its holdings in shares of Altria Group by 3.4% during the second quarter. BlackRock Inc. now owns 138,589,215 shares of the company’s stock worth $7,870,481,000 after purchasing an additional 4,581,335 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Altria Group during the second quarter worth $178,215,000. Finally, Voya Investment Management LLC raised its holdings in shares of Altria Group by 354.6% during the second quarter. Voya Investment Management LLC now owns 3,883,621 shares of the company’s stock worth $220,551,000 after purchasing an additional 3,029,307 shares during the period. 63.12% of the stock is currently owned by institutional investors.
MO has been the topic of a number of research reports. Jefferies Financial Group cut shares of Altria Group from a “buy” rating to a “hold” rating and set a $61.00 target price on the stock. in a report on Friday, August 24th. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Tuesday, September 25th. Bank of America set a $70.00 price target on shares of Altria Group and gave the stock a “buy” rating in a research report on Thursday, September 13th. Stifel Nicolaus lowered their price target on shares of Altria Group from $78.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Finally, Piper Jaffray Companies set a $75.00 price target on shares of Altria Group and gave the stock a “buy” rating in a research report on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Altria Group presently has a consensus rating of “Buy” and an average target price of $70.28.
Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, July 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $1.00 by $0.01. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a net margin of 42.00% and a return on equity of 48.88%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Equities research analysts predict that Altria Group Inc will post 4 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Friday, September 14th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend was Thursday, September 13th. This is a positive change from Altria Group’s previous quarterly dividend of $0.70. Altria Group’s dividend payout ratio is currently 94.67%.
In related news, Director Dinyar S. Devitre sold 3,165 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total value of $184,962.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.
Altria Group Company Profile
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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