Altria Group, Inc. $MO Stake Cut by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings trimmed its stake in Altria by 3.7% to 885,529 shares (about $58.5M) in Q3, amid institutional ownership of roughly 57.41%.
• Altria declared a quarterly dividend of $1.06 (annualized $4.24) with an ex-dividend date of March 25, implying a 6.2% yield and a payout ratio of 103.16%.
• Several analysts raised targets (UBS to $74), but the consensus remains a Hold with an average price target of $65.11, signaling mixed sentiment among firms.

Chevy Chase Trust Holdings LLC lessened its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 885,529 shares of the company's stock after selling 33,656 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Altria Group worth $58,498,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Altria Group by 1.0% during the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company's stock worth $9,364,216,000 after acquiring an additional 1,599,923 shares during the period. State Street Corp boosted its stake in Altria Group by 1.2% in the second quarter. State Street Corp now owns 72,367,263 shares of the company's stock valued at $4,315,438,000 after acquiring an additional 886,583 shares during the period. Ameriprise Financial Inc. grew its holdings 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 valued at $1,285,575,000 after purchasing an additional 3,172,753 shares during the last quarter. Bank of New York Mellon Corp grew its holdings 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 valued at $842,122,000 after purchasing an additional 132,846 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of Altria Group by 0.4% during the 3rd quarter. Capital Research Global Investors now owns 12,131,644 shares of the company's stock worth $801,412,000 after purchasing an additional 47,757 shares during the period. Institutional investors own 57.41% of the company's stock.

Insider Buying and Selling at Altria Group

In related news, SVP Charles N. Whitaker sold 27,908 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were 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 $12,221,318.33. This represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group raised their price target on Altria Group from $67.00 to $74.00 and gave the stock a "buy" rating in a report on Monday, March 9th. Citigroup increased 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. Barclays raised their target price on Altria Group from $57.00 to $63.00 and gave the company an "underweight" rating in a research note on Monday, February 23rd. Argus raised shares of Altria Group to a "hold" rating in a report on Tuesday, January 13th. Finally, Jefferies Financial Group upped their price target on shares of Altria Group from $47.00 to $50.00 and gave the stock an "underperform" rating in a research report on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $65.11.

Altria Group Trading Up 0.3%

Shares of NYSE MO opened at $67.96 on Monday. Altria Group, Inc. has a 12-month low of $52.82 and a 12-month high of $70.51. The company has a market cap of $113.62 billion, a PE ratio of 16.53, a P/E/G ratio of 2.90 and a beta of 0.45. The stock has a 50 day simple moving average of $64.21 and a 200-day simple moving average of $62.58.

Altria Group (NYSE:MO - Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing the consensus estimate 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's revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm earned $1.30 earnings per share. Sell-side analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group's dividend payout ratio (DPR) is 103.16%.

Altria Group 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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