DAVENPORT & Co LLC Boosts Stake in Altria Group, Inc. $MO

DAVENPORT & Co LLC raised its holdings in Altria Group, Inc. (NYSE:MO) by 9.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 226,032 shares of the company’s stock after acquiring an additional 20,178 shares during the period. DAVENPORT & Co LLC’s holdings in Altria Group were worth $13,033,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. State Street Corp grew its stake in Altria Group by 1.2% in the 2nd quarter. State Street Corp now owns 72,367,263 shares of the company’s stock worth $4,315,438,000 after buying an additional 886,583 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Altria Group by 19.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 19,567,823 shares of the company’s stock valued at $1,285,575,000 after buying an additional 3,172,753 shares in the last quarter. Northern Trust Corp raised its position in shares of Altria Group by 0.4% during the 3rd quarter. Northern Trust Corp now owns 16,705,159 shares of the company’s stock valued at $1,103,543,000 after buying an additional 59,189 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Altria Group by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,747,828 shares of the company’s stock worth $842,122,000 after acquiring an additional 132,846 shares during the last quarter. Finally, Capital Research Global Investors grew its position in Altria Group by 0.4% in the third quarter. Capital Research Global Investors now owns 12,131,644 shares of the company’s stock worth $801,412,000 after acquiring an additional 47,757 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

MO stock opened at $63.77 on Thursday. Altria Group, Inc. has a 52 week low of $52.82 and a 52 week high of $70.51. The firm’s fifty day moving average is $65.45 and its 200 day moving average is $62.52. The firm has a market cap of $106.61 billion, a P/E ratio of 15.51, a P/E/G ratio of 2.75 and a beta of 0.45.

Altria Group (NYSE:MO) last issued its earnings results 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 negative return on equity of 287.61% and a net margin of 29.84%.The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.30 earnings per share. As a group, analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

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 issued a $1.06 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 annualized dividend and a dividend yield of 6.6%. Altria Group’s payout ratio is currently 103.16%.

Insider Buying and Selling at Altria Group

In other news, SVP Charles N. Whitaker sold 27,908 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the sale, the senior vice president owned 180,869 shares of the company’s stock, valued at approximately $12,221,318.33. The trade was a 13.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MO. UBS Group increased their target price on Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Jefferies Financial Group upped their price objective on Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a report on Wednesday, March 4th. Stifel Nicolaus reduced their price objective on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Barclays raised their price objective on Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. Finally, Citigroup boosted their target price on Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Altria Group has an average rating of “Hold” and an average price target of $65.11.

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.