Altria Group Inc (MO) Position Boosted by Daiwa Securities Group Inc.

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Daiwa Securities Group Inc. lifted its stake in Altria Group Inc (NYSE:MO) by 9.2% in the third quarter, HoldingsChannel.com reports. The firm owned 79,711 shares of the company’s stock after purchasing an additional 6,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Altria Group were worth $4,807,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. LFA Lugano Financial Advisors SA acquired a new stake in shares of Altria Group during the 3rd quarter valued at about $103,000. IMA Wealth Inc. acquired a new stake in shares of Altria Group during the 2nd quarter valued at about $106,000. BerganKDV Wealth Management LLC acquired a new stake in shares of Altria Group during the 2nd quarter valued at about $123,000. BDO Wealth Advisors LLC lifted its holdings in shares of Altria Group by 165.5% during the 2nd quarter. BDO Wealth Advisors LLC now owns 2,222 shares of the company’s stock valued at $126,000 after buying an additional 1,385 shares during the last quarter. Finally, Landaas & Co. WI ADV acquired a new stake in shares of Altria Group during the 2nd quarter valued at about $137,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

Shares of MO stock opened at $64.87 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.36 and a debt-to-equity ratio of 0.77. Altria Group Inc has a twelve month low of $53.91 and a twelve month high of $74.38. The company has a market capitalization of $119.64 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.81 and a beta of 0.40.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 25th. The company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.01. Altria Group had a return on equity of 48.31% and a net margin of 42.13%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.22 billion. On average, research analysts forecast that Altria Group Inc will post 3.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Friday, September 14th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.93%. This is an increase from Altria Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, September 13th. Altria Group’s dividend payout ratio (DPR) is presently 94.67%.

In related news, Director Dinyar S. Devitre sold 3,165 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $58.44, for a total value of $184,962.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Several equities research analysts have recently issued reports on MO shares. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Tuesday, September 25th. Jefferies Financial Group lowered Altria Group from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a report on Friday, August 24th. Sanford C. Bernstein started coverage on Altria Group in a report on Tuesday, October 16th. They set a “market perform” rating for the company. Bank of America set a $70.00 price target on Altria Group and gave the company a “buy” rating in a report on Thursday, September 13th. Finally, Stifel Nicolaus reduced their price target on Altria Group from $78.00 to $65.00 and set a “buy” rating for the company in a report on Friday, July 27th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Altria Group presently has an average rating of “Buy” and a consensus price target of $69.87.

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

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