Altria Group, Inc. $MO Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Altria stake by 6.6%, selling 233,372 shares and now holds 3,288,837 shares (about 0.20% of the company) valued at roughly $189.6 million.
• Altria declared a quarterly dividend of $1.06 per share (annualized $4.24), implying a 6.3% yield; the ex-dividend date is March 25 and the dividend is payable April 30, with a payout ratio of 103.16%.
• In the latest quarter Altria reported EPS of $1.30 (missed by $0.02) and revenue of $5.08 billion (down 0.5% YoY); analysts' consensus is a "Hold" with an average price target of $65.88.

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,288,837 shares of the company's stock after selling 233,372 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.20% of Altria Group worth $189,634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ameriprise Financial Inc. boosted its position in shares of Altria Group by 19.4% during the third quarter. Ameriprise Financial Inc. now owns 19,567,823 shares of the company's stock worth $1,285,575,000 after buying an additional 3,172,753 shares during the period. Northern Trust Corp boosted its position in shares of Altria Group by 0.4% during the third quarter. Northern Trust Corp now owns 16,705,159 shares of the company's stock worth $1,103,543,000 after buying an additional 59,189 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Altria Group by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 12,747,828 shares of the company's stock worth $842,122,000 after buying an additional 132,846 shares during the period. Capital Research Global Investors boosted its position in shares of Altria Group by 0.4% during the third quarter. Capital Research Global Investors now owns 12,131,644 shares of the company's stock worth $801,412,000 after buying an additional 47,757 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Altria Group by 7.2% during the third quarter. JPMorgan Chase & Co. now owns 12,073,682 shares of the company's stock worth $797,587,000 after buying an additional 814,665 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Price Performance

MO opened at $67.32 on Monday. The company has a market capitalization of $112.52 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 2.88 and a beta of 0.41. Altria Group, Inc. has a 1-year low of $54.70 and a 1-year high of $70.51. The business has a 50 day moving average price of $66.51 and a two-hundred day moving average price of $62.58.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data 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 net margin of 29.84% and a negative return on equity of 287.61%. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter last year, the company posted $1.30 EPS. Altria Group's revenue was down .5% on a year-over-year basis. Equities analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal 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 given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Wednesday, March 25th. Altria Group's dividend payout ratio is 103.16%.

Insider Activity at Altria Group

In other news, SVP Charles N. Whitaker sold 27,908 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the completion of the sale, the senior vice president owned 180,869 shares in the company, valued at approximately $12,221,318.33. This represents a 13.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MO. Jefferies Financial Group boosted their price objective on Altria Group from $47.00 to $50.00 and gave the stock an "underperform" rating in a research report on Wednesday, March 4th. Stifel Nicolaus cut their target price on Altria Group from $72.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, January 30th. Argus upgraded Altria Group to a "hold" rating in a research report on Tuesday, January 13th. Citigroup upped 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. Finally, UBS Group upped their target price on Altria Group from $67.00 to $74.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Altria Group currently has an average rating of "Hold" and an average price target of $65.88.

Altria Group Company Profile

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.

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