Altria Group Inc (MO) Stake Lessened by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lowered its position in shares of Altria Group Inc (NYSE:MO) by 13.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 240,589 shares of the company’s stock after selling 35,813 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Altria Group were worth $15,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in MO. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Altria Group by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,909,082 shares of the company’s stock valued at $374,754,000 after purchasing an additional 39,482 shares during the last quarter. HighPoint Advisor Group LLC increased its holdings in Altria Group by 7.6% in the 3rd quarter. HighPoint Advisor Group LLC now owns 56,242 shares of the company’s stock valued at $3,594,000 after purchasing an additional 3,964 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Altria Group by 7.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 21,970,538 shares of the company’s stock valued at $1,393,372,000 after purchasing an additional 1,561,120 shares during the last quarter. Sigma Planning Corp increased its holdings in Altria Group by 5.0% in the 3rd quarter. Sigma Planning Corp now owns 121,761 shares of the company’s stock valued at $7,722,000 after purchasing an additional 5,850 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Altria Group by 1.6% in the 3rd quarter. Rhumbline Advisers now owns 2,915,635 shares of the company’s stock valued at $184,910,000 after purchasing an additional 45,317 shares during the last quarter. Institutional investors and hedge funds own 62.64% of the company’s stock.

Several analysts recently weighed in on MO shares. Zacks Investment Research upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a report on Tuesday, October 31st. Citigroup dropped their target price on shares of Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, October 30th. Vetr downgraded shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.89 target price for the company. in a report on Monday, October 30th. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 target price on shares of Altria Group in a report on Friday, October 27th. Finally, Edward Jones upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $72.87.

Altria Group Inc (NYSE MO) opened at $69.61 on Friday. The company has a market cap of $132,830.00, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 2.57 and a beta of 0.62. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. Altria Group Inc has a 12 month low of $60.01 and a 12 month high of $77.79.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. Altria Group had a net margin of 60.37% and a return on equity of 49.43%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. sell-side analysts forecast that Altria Group Inc will post 3.28 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Thursday, December 21st were paid a $0.66 dividend. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $2.64 annualized dividend and a dividend yield of 3.79%. Altria Group’s dividend payout ratio (DPR) is 33.00%.

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Altria Group 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.

Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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