Altria Group Inc (MO) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.
Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Altria Group Inc (NYSE:MO) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,920,931 shares of the company’s stock after purchasing an additional 11,849 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Altria Group were worth $422,814,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in shares of Altria Group by 21,647.0% in the 2nd quarter. Janus Henderson Group PLC now owns 19,831,702 shares of the company’s stock worth $1,476,867,000 after acquiring an additional 19,740,509 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Altria Group by 7.6% in the 2nd quarter. BlackRock Inc. now owns 127,525,988 shares of the company’s stock worth $9,496,859,000 after acquiring an additional 8,969,677 shares during the last quarter. Capital World Investors raised its holdings in shares of Altria Group by 27.6% in the 2nd quarter. Capital World Investors now owns 41,157,755 shares of the company’s stock worth $3,065,018,000 after acquiring an additional 8,914,575 shares during the last quarter. USS Investment Management Ltd acquired a new stake in shares of Altria Group in the 4th quarter worth about $269,661,000. Finally, Vanguard Group Inc. raised its holdings in shares of Altria Group by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock worth $10,129,659,000 after acquiring an additional 2,690,270 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.
Shares of Altria Group Inc (NYSE MO) opened at $65.65 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.64. Altria Group Inc has a one year low of $60.01 and a one year high of $77.79. The stock has a market cap of $124,764.48, a P/E ratio of 12.34, a PEG ratio of 1.91 and a beta of 0.63.
Altria Group announced that its Board of Directors has initiated a stock buyback program on Thursday, February 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, March 14th. This represents a $2.80 annualized dividend and a dividend yield of 4.27%. This is a positive change from Altria Group’s previous quarterly dividend of $0.66. Altria Group’s dividend payout ratio (DPR) is presently 49.62%.
In other news, CEO Brian W. Quigley sold 3,464 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $62.40, for a total transaction of $216,153.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Craig A. Johnson sold 14,953 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $66.59, for a total transaction of $995,720.27. Following the sale, the chief executive officer now owns 64,809 shares of the company’s stock, valued at approximately $4,315,631.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,117 shares of company stock valued at $1,821,707. 0.11% of the stock is currently owned by company insiders.
MO has been the topic of a number of analyst reports. Jefferies Group set a $72.00 target price on shares of Altria Group and gave the stock a “hold” rating in a report on Friday, November 17th. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.65 price objective for the company. in a research note on Monday, November 13th. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Tuesday, February 6th. Piper Jaffray Companies increased their price objective on shares of Altria Group from $76.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, Berenberg Bank upgraded shares of Altria Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $60.01 to $71.00 in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $73.66.
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Altria Group Company Profile
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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