Fayez Sarofim & Co Sells 313,321 Shares of Altria Group, Inc. (NYSE:MO)

Key Points

• Fayez Sarofim & Co reduced its stake in Altria Group by 5.2%, now holding approximately 5.73 million shares valued at around $343.73 million.
• Altria Group reported earnings of $1.44 per share for the last quarter, exceeding expectations and showing a 0.2% year-over-year revenue increase to $5.29 billion.
• The company's latest quarterly dividend was $1.02 per share, representing a 6.5% yield and a payout ratio of 78.92%.

Fayez Sarofim & Co lowered its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 5.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,726,929 shares of the company's stock after selling 313,321 shares during the period. Fayez Sarofim & Co owned 0.34% of Altria Group worth $343,730,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Altria Group by 12.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,012,022 shares of the company's stock worth $180,782,000 after buying an additional 328,727 shares during the last quarter. Accuvest Global Advisors bought a new stake in Altria Group during the 1st quarter valued at $367,000. Ironwood Investment Counsel LLC lifted its position in Altria Group by 4.1% in the 1st quarter. Ironwood Investment Counsel LLC now owns 4,721 shares of the company's stock valued at $283,000 after acquiring an additional 187 shares in the last quarter. Keb Asset Management LLC lifted its holdings in shares of Altria Group by 9.9% in the first quarter. Keb Asset Management LLC now owns 4,214 shares of the company's stock valued at $253,000 after purchasing an additional 381 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Altria Group by 7.4% in the 1st quarter. Deutsche Bank AG now owns 4,084,175 shares of the company's stock worth $245,132,000 after acquiring an additional 282,072 shares in the last quarter. Institutional investors own 57.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MO. Needham & Company LLC raised Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Barclays raised their target price on Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a research note on Wednesday. Citigroup boosted their price target on shares of Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Stifel Nicolaus upped their price objective on shares of Altria Group from $63.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Jefferies Financial Group assumed coverage on Altria Group in a research report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $59.13.

Altria Group Stock Up 1.0%

Shares of Altria Group stock traded up $0.66 on Friday, hitting $64.21. The stock had a trading volume of 5,433,128 shares, compared to its average volume of 8,586,698. The stock has a market cap of $107.87 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 3.42 and a beta of 0.59. Altria Group, Inc. has a one year low of $48.86 and a one year high of $64.35. The stock's 50-day simple moving average is $59.72 and its two-hundred day simple moving average is $57.78.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.07. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same period last year, the company earned $1.31 EPS. The business's quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 16th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 6.4%. Altria Group's dividend payout ratio (DPR) is currently 78.92%.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.