Dimensional Fund Advisors LP Buys 589,080 Shares of Altria Group Inc (MO)
Dimensional Fund Advisors LP grew its stake in Altria Group Inc (NYSE:MO) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,674,913 shares of the company’s stock after purchasing an additional 589,080 shares during the period. Dimensional Fund Advisors LP owned about 0.30% of Altria Group worth $322,295,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in MO. Pekin Singer Strauss Asset Management IL raised its stake in Altria Group by 9.9% in the 2nd quarter. Pekin Singer Strauss Asset Management IL now owns 9,510 shares of the company’s stock valued at $540,000 after purchasing an additional 859 shares during the last quarter. Cpwm LLC raised its stake in Altria Group by 23.9% in the 2nd quarter. Cpwm LLC now owns 4,527 shares of the company’s stock valued at $257,000 after purchasing an additional 874 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in Altria Group by 3.9% in the 2nd quarter. 180 Wealth Advisors LLC now owns 23,305 shares of the company’s stock valued at $1,323,000 after purchasing an additional 878 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its stake in Altria Group by 16.4% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 6,275 shares of the company’s stock valued at $356,000 after purchasing an additional 882 shares during the last quarter. Finally, Ashfield Capital Partners LLC raised its stake in Altria Group by 4.2% in the 1st quarter. Ashfield Capital Partners LLC now owns 22,951 shares of the company’s stock valued at $1,430,000 after purchasing an additional 915 shares during the last quarter. Institutional investors and hedge funds own 63.27% of the company’s stock.
Several research analysts recently commented on the company. ValuEngine raised Altria Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th. Jefferies Financial Group downgraded Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a research note on Friday, August 24th. Consumer Edge assumed coverage on Altria Group in a research note on Monday, June 11th. They issued an “equal weight” rating and a $69.31 price objective for the company. Piper Jaffray Companies set a $75.00 price objective on Altria Group and gave the company a “buy” rating in a research note on Monday, July 23rd. Finally, Morgan Stanley reduced their price objective on Altria Group from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $71.01.
Altria Group (NYSE:MO) last issued its earnings results on Thursday, July 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period last year, the company earned $0.85 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. sell-side analysts forecast that Altria Group Inc will post 4 EPS for the current fiscal year.
Altria Group announced that its Board of Directors has initiated a share repurchase program on Thursday, May 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Friday, September 14th will be paid a $0.80 dividend. The ex-dividend date is Thursday, September 13th. This is an increase from Altria Group’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.45%. Altria Group’s dividend payout ratio (DPR) is 82.84%.
Altria Group 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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