Altria Group Inc (NYSE:MO) Stock Holdings Lessened by Gemmer Asset Management LLC

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Gemmer Asset Management LLC lowered its stake in Altria Group Inc (NYSE:MO) by 11.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,005 shares of the company’s stock after selling 511 shares during the period. Gemmer Asset Management LLC’s holdings in Altria Group were worth $164,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of MO. Vanguard Group Inc. raised its stake in Altria Group by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 147,103,311 shares of the company’s stock valued at $6,965,342,000 after purchasing an additional 525,023 shares during the period. FMR LLC raised its stake in Altria Group by 68.1% during the 1st quarter. FMR LLC now owns 78,710,352 shares of the company’s stock valued at $4,520,337,000 after purchasing an additional 31,883,878 shares during the period. Janus Henderson Group PLC raised its stake in Altria Group by 2.8% during the 2nd quarter. Janus Henderson Group PLC now owns 18,731,425 shares of the company’s stock valued at $886,937,000 after purchasing an additional 514,526 shares during the period. Invesco Ltd. raised its stake in Altria Group by 5.3% during the 2nd quarter. Invesco Ltd. now owns 16,374,473 shares of the company’s stock valued at $775,331,000 after purchasing an additional 817,834 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Altria Group by 4.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,453,582 shares of the company’s stock valued at $684,378,000 after purchasing an additional 552,118 shares during the period. 63.25% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on MO. Barclays set a $50.00 target price on shares of Altria Group and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley set a $44.00 target price on shares of Altria Group and gave the company a “hold” rating in a research note on Tuesday, September 24th. Wells Fargo & Co reissued a “buy” rating on shares of Altria Group in a research note on Monday, August 26th. Cowen reaffirmed a “hold” rating on shares of Altria Group in a research note on Thursday, September 12th. Finally, ValuEngine raised shares of Altria Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $56.26.

NYSE MO opened at $42.57 on Friday. Altria Group Inc has a 1-year low of $39.30 and a 1-year high of $66.04. The company has a current ratio of 0.56, a quick ratio of 0.28 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $79.32 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 1.58 and a beta of 0.40. The firm’s fifty day simple moving average is $42.72 and its 200-day simple moving average is $49.03.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.10. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The business had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the prior year, the business posted $1.01 earnings per share. Altria Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts predict that Altria Group Inc will post 4.21 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were paid a $0.84 dividend. The ex-dividend date of this dividend was Friday, September 13th. This is an increase from Altria Group’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 7.89%. Altria Group’s dividend payout ratio is 84.21%.

Altria Group announced that its Board of Directors has initiated a share buyback program on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 1.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Altria Group Company 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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