IBM Retirement Fund Buys 798 Shares of Altria Group Inc (MO)
IBM Retirement Fund lifted its stake in shares of Altria Group Inc (NYSE:MO) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,106 shares of the company’s stock after acquiring an additional 798 shares during the quarter. IBM Retirement Fund’s holdings in Altria Group were worth $3,359,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Cadinha & Co. LLC boosted its stake in Altria Group by 34.8% in the 2nd quarter. Cadinha & Co. LLC now owns 9,301 shares of the company’s stock worth $693,000 after purchasing an additional 2,401 shares during the period. LMR Partners LLP bought a new position in Altria Group in the 2nd quarter worth approximately $1,120,000. Teacher Retirement System of Texas boosted its stake in Altria Group by 4.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 1,763,350 shares of the company’s stock worth $131,317,000 after purchasing an additional 76,988 shares during the period. Rational Advisors LLC boosted its stake in Altria Group by 44.1% in the 2nd quarter. Rational Advisors LLC now owns 27,397 shares of the company’s stock worth $2,040,000 after purchasing an additional 8,384 shares during the period. Finally, Rhumbline Advisers boosted its stake in Altria Group by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 2,870,318 shares of the company’s stock worth $213,753,000 after purchasing an additional 17,006 shares during the period. Institutional investors own 62.64% of the company’s stock.
Several research firms have weighed in on MO. Berenberg Bank upgraded Altria Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $60.01 to $71.00 in a research note on Tuesday, December 19th. Vetr downgraded Altria Group from a “hold” rating to a “sell” rating and set a $67.97 price target for the company. in a research note on Monday, December 11th. Zacks Investment Research cut Altria Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Wells Fargo & Co upped their price objective on Altria Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, Jefferies Group set a $72.00 price objective on Altria Group and gave the stock a “hold” rating in a report on Friday, November 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $72.87.
Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. The business 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%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 EPS. equities research analysts predict that Altria Group Inc will post 3.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st were issued a dividend of $0.66 per share. The ex-dividend date was Wednesday, December 20th. This represents a $2.64 annualized dividend and a dividend yield of 3.79%. Altria Group’s dividend payout ratio (DPR) is 33.00%.
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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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