Martingale Asset Management L P Has $32.83 Million Stake in Altria Group, Inc. $MO

Martingale Asset Management L P trimmed its position in Altria Group, Inc. (NYSE:MO) by 8.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 496,989 shares of the company’s stock after selling 48,489 shares during the period. Altria Group makes up approximately 0.8% of Martingale Asset Management L P’s investment portfolio, making the stock its 22nd largest holding. Martingale Asset Management L P’s holdings in Altria Group were worth $32,831,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Acorns Advisers LLC acquired a new position in Altria Group during the 3rd quarter worth approximately $223,000. Seven Mile Advisory grew its stake in shares of Altria Group by 17.0% during the 3rd quarter. Seven Mile Advisory now owns 8,090 shares of the company’s stock worth $534,000 after acquiring an additional 1,177 shares in the last quarter. BOKF NA raised its holdings in shares of Altria Group by 6.0% in the third quarter. BOKF NA now owns 64,555 shares of the company’s stock valued at $4,265,000 after purchasing an additional 3,640 shares during the last quarter. Magnolia Capital Advisors LLC raised its holdings in shares of Altria Group by 2.0% in the third quarter. Magnolia Capital Advisors LLC now owns 15,210 shares of the company’s stock valued at $1,005,000 after purchasing an additional 302 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Altria Group by 752.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 764,095 shares of the company’s stock worth $50,476,000 after purchasing an additional 674,443 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup increased their target price on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Barclays lifted their price target on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Monday, February 23rd. Argus upgraded shares of Altria Group to a “hold” rating in a research note on Tuesday, January 13th. UBS Group raised their price objective on Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a report on Monday. Finally, Jefferies Financial Group lifted their target price on Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a research report on Wednesday, March 4th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $65.11.

Altria Group Trading Up 1.9%

NYSE:MO opened at $67.63 on Friday. Altria Group, Inc. has a 1-year low of $52.82 and a 1-year high of $70.51. The firm has a fifty day simple moving average of $64.00 and a 200 day simple moving average of $62.63. The stock has a market capitalization of $113.07 billion, a PE ratio of 16.46, a P/E/G ratio of 2.83 and a beta of 0.45.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The firm’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $1.30 EPS. On average, equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be paid a dividend of $1.06 per share. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 annualized dividend and a dividend yield of 6.3%. Altria Group’s payout ratio is currently 103.16%.

Insider Activity

In other news, SVP Charles N. Whitaker sold 27,908 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $67.57, for a total value of $1,885,743.56. Following the sale, the senior vice president directly owned 180,869 shares of the company’s stock, valued at approximately $12,221,318.33. This represents a 13.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

Altria Group Company Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.