TD Asset Management Inc Raises Stock Holdings in Altria Group, Inc. $MO

TD Asset Management Inc lifted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 823,063 shares of the company’s stock after acquiring an additional 45,260 shares during the period. TD Asset Management Inc’s holdings in Altria Group were worth $54,372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MO. CWA Asset Management Group LLC raised its stake in shares of Altria Group by 8.6% during the third quarter. CWA Asset Management Group LLC now owns 335,418 shares of the company’s stock worth $22,158,000 after purchasing an additional 26,624 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Altria Group by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,522,209 shares of the company’s stock valued at $232,677,000 after buying an additional 44,303 shares during the period. JPMorgan Chase & Co. increased its stake in Altria Group by 7.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 12,073,682 shares of the company’s stock valued at $797,587,000 after buying an additional 814,665 shares during the period. Vanguard Group Inc. raised its position in Altria Group by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock worth $9,364,216,000 after buying an additional 1,599,923 shares during the last quarter. Finally, Silver Oak Securities Incorporated lifted its stake in shares of Altria Group by 155.4% in the 3rd quarter. Silver Oak Securities Incorporated now owns 31,220 shares of the company’s stock worth $2,062,000 after acquiring an additional 18,997 shares during the period. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Barclays upped their price objective on Altria Group from $57.00 to $63.00 and gave the stock an “underweight” rating in a report on Monday. Stifel Nicolaus reduced their target price on Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a report on Friday, January 30th. Argus raised shares of Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Finally, Citigroup increased their price target on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and an average target price of $64.33.

Altria Group Stock Down 0.4%

Shares of MO stock opened at $69.42 on Friday. Altria Group, Inc. has a fifty-two week low of $52.82 and a fifty-two week high of $70.24. The business has a fifty day simple moving average of $62.11 and a 200-day simple moving average of $62.55. The stock has a market cap of $116.53 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.00 and a beta of 0.47.

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

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be given a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Wednesday, March 25th. Altria Group’s dividend payout ratio is currently 103.16%.

Altria Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 30th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 1.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management 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.