Thrivent Financial for Lutherans Has $8.90 Million Position in Altria Group, Inc. $MO

Thrivent Financial for Lutherans grew its holdings in Altria Group, Inc. (NYSE:MO) by 55.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 134,707 shares of the company’s stock after buying an additional 47,964 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Altria Group were worth $8,899,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MO. Kercheville Advisors LLC raised its position in Altria Group by 3.7% in the 3rd quarter. Kercheville Advisors LLC now owns 4,397 shares of the company’s stock worth $290,000 after purchasing an additional 156 shares during the last quarter. Founders Grove Wealth Partners LLC lifted its stake in shares of Altria Group by 2.9% during the third quarter. Founders Grove Wealth Partners LLC now owns 5,781 shares of the company’s stock valued at $382,000 after acquiring an additional 165 shares during the period. Westside Investment Management Inc. boosted its holdings in Altria Group by 4.5% in the second quarter. Westside Investment Management Inc. now owns 3,816 shares of the company’s stock valued at $224,000 after acquiring an additional 166 shares during the last quarter. Bar Harbor Wealth Management raised its holdings in Altria Group by 3.1% during the 2nd quarter. Bar Harbor Wealth Management now owns 5,656 shares of the company’s stock worth $332,000 after purchasing an additional 169 shares during the last quarter. Finally, Generali Asset Management SPA SGR boosted its stake in shares of Altria Group by 0.3% in the 3rd quarter. Generali Asset Management SPA SGR now owns 50,805 shares of the company’s stock valued at $3,356,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Argus raised shares of Altria Group to a “hold” rating in a research note on Tuesday, January 13th. UBS Group increased their price target on Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Stifel Nicolaus decreased their price objective on Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.56.

Altria Group Trading Up 0.4%

NYSE:MO opened at $65.42 on Friday. Altria Group, Inc. has a 1 year low of $52.37 and a 1 year high of $68.60. The stock has a 50-day moving average price of $59.56 and a two-hundred day moving average price of $61.91. The stock has a market cap of $109.82 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 3.59 and a beta of 0.47.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter last year, the firm earned $1.30 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group declared that its board has initiated a share buyback program on Thursday, October 30th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were given a dividend of $1.06 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $4.24 annualized dividend and a dividend yield of 6.5%. Altria Group’s dividend payout ratio is currently 103.16%.

About Altria Group

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.