New York State Common Retirement Fund Has $135.22 Million Stock Position in Altria Group, Inc. $MO

New York State Common Retirement Fund trimmed its stake in shares of Altria Group, Inc. (NYSE:MO) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,046,900 shares of the company’s stock after selling 52,500 shares during the quarter. New York State Common Retirement Fund’s holdings in Altria Group were worth $135,218,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its holdings in Altria Group by 2.7% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 161,464 shares of the company’s stock valued at $9,778,000 after acquiring an additional 4,231 shares in the last quarter. one8zero8 LLC boosted its position in Altria Group by 0.9% in the third quarter. one8zero8 LLC now owns 34,649 shares of the company’s stock valued at $2,289,000 after buying an additional 300 shares in the last quarter. Coastal Bridge Advisors LLC grew its position in Altria Group by 9.3% during the 3rd quarter. Coastal Bridge Advisors LLC now owns 7,464 shares of the company’s stock worth $493,000 after acquiring an additional 635 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Altria Group by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 12,747,828 shares of the company’s stock valued at $842,122,000 after buying an additional 132,846 shares during the period. Finally, Ballentine Partners LLC increased its position in Altria Group by 14.2% in the 3rd quarter. Ballentine Partners LLC now owns 23,220 shares of the company’s stock valued at $1,534,000 after acquiring an additional 2,893 shares during the period. Institutional investors own 57.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. UBS Group increased their target price on shares of Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group raised their price objective on Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Finally, Argus upgraded shares of Altria Group to a “hold” rating in a report on Tuesday, January 13th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.00.

Altria Group Stock Performance

Shares of Altria Group stock opened at $63.12 on Thursday. The stock has a market capitalization of $105.96 billion, a P/E ratio of 12.05, a P/E/G ratio of 3.52 and a beta of 0.47. The stock’s 50-day simple moving average is $58.97 and its 200 day simple moving average is $61.73. Altria Group, Inc. has a 52-week low of $50.08 and a 52-week high of $68.60.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.30. Altria Group had a negative return on equity of 319.43% and a net margin of 37.89%.The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Equities research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a $1.06 dividend. The ex-dividend date was Friday, December 26th. This represents a $4.24 dividend on an annualized basis and a yield of 6.7%. Altria Group’s payout ratio is presently 80.92%.

Altria Group announced that its board has authorized a share repurchase plan on Thursday, October 30th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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.