Boston Partners Cuts Position in Altria Group Inc (NYSE:MO)

Boston Partners reduced its stake in shares of Altria Group Inc (NYSE:MO) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,535,095 shares of the company’s stock after selling 63,832 shares during the quarter. Boston Partners owned 0.08% of Altria Group worth $88,161,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Waller Financial Planning Group Inc. bought a new stake in Altria Group during the 4th quarter valued at approximately $277,000. Dean Investment Associates LLC lifted its holdings in shares of Altria Group by 7.0% during the fourth quarter. Dean Investment Associates LLC now owns 37,281 shares of the company’s stock valued at $1,841,000 after purchasing an additional 2,451 shares during the last quarter. Grimes & Company Inc. lifted its holdings in shares of Altria Group by 9.3% during the first quarter. Grimes & Company Inc. now owns 8,387 shares of the company’s stock valued at $481,000 after purchasing an additional 717 shares during the last quarter. 6 Meridian lifted its holdings in shares of Altria Group by 29.1% during the first quarter. 6 Meridian now owns 464,466 shares of the company’s stock valued at $26,674,000 after purchasing an additional 104,611 shares during the last quarter. Finally, GYL Financial Synergies LLC purchased a new position in shares of Altria Group during the fourth quarter valued at approximately $380,000. 64.48% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on MO. Citigroup set a $52.00 target price on shares of Altria Group and gave the company a “sell” rating in a research note on Thursday, March 28th. ValuEngine raised shares of Altria Group from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Morgan Stanley boosted their price objective on shares of Altria Group from $45.00 to $49.00 and gave the company an “underweight” rating in a research report on Monday, April 15th. TheStreet raised shares of Altria Group from a “c+” rating to a “b-” rating in a research report on Friday, March 29th. Finally, Bank of America boosted their price objective on shares of Altria Group from $56.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.91.

In other Altria Group news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of Altria Group stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $52.48, for a total transaction of $104,960.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jody L. Begley sold 3,250 shares of Altria Group stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $53.38, for a total transaction of $173,485.00. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

MO traded up $0.42 during trading on Monday, hitting $47.77. The stock had a trading volume of 7,173,700 shares, compared to its average volume of 10,300,724. The business’s 50 day simple moving average is $50.77. The stock has a market cap of $89.49 billion, a P/E ratio of 11.95, a PEG ratio of 1.48 and a beta of 0.39. Altria Group Inc has a twelve month low of $42.40 and a twelve month high of $66.04. The company has a quick ratio of 0.39, a current ratio of 0.62 and a debt-to-equity ratio of 1.92.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, April 25th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.02). The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.60 billion. Altria Group had a return on equity of 49.42% and a net margin of 24.87%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. On average, sell-side analysts anticipate that Altria Group Inc will post 4.18 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be given a dividend of $0.80 per share. The ex-dividend date is Thursday, June 13th. This represents a $3.20 dividend on an annualized basis and a yield of 6.70%. Altria Group’s payout ratio is presently 80.20%.

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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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

Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.