Ameriprise Financial Inc. Acquires 3,172,753 Shares of Altria Group, Inc. $MO

Key Points

• Ameriprise Financial raised its stake in Altria by 19.4% in Q3, buying 3,172,753 shares to hold 19,567,823 shares (about 1.17% of the company) valued at roughly $1.286 billion at quarter-end.
• Altria announced a quarterly dividend of $1.06 (annualized $4.24) with an ex-dividend date of March 25 and a yield of 6.2%, though the dividend payout ratio is a high 103.16%.
• Wall Street is mixed on MO with a consensus rating of Hold and a $65.11 target; analysts are split (5 Buy, 5 Hold, 2 Sell) and recent price targets range roughly from $50 to $74.

Ameriprise Financial Inc. raised its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 19.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,567,823 shares of the company's stock after buying an additional 3,172,753 shares during the period. Ameriprise Financial Inc. owned about 1.17% of Altria Group worth $1,285,575,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. CWA Asset Management Group LLC increased its position in Altria Group by 8.6% in the third quarter. CWA Asset Management Group LLC now owns 335,418 shares of the company's stock worth $22,158,000 after buying an additional 26,624 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Altria Group by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,522,209 shares of the company's stock valued at $232,677,000 after buying an additional 44,303 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Altria Group by 7.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,073,682 shares of the company's stock valued at $797,587,000 after buying an additional 814,665 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Altria Group by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company's stock valued at $9,364,216,000 after acquiring an additional 1,599,923 shares during the period. Finally, Silver Oak Securities Incorporated grew its stake in shares of Altria Group by 155.4% during the 3rd quarter. Silver Oak Securities Incorporated now owns 31,220 shares of the company's stock valued at $2,062,000 after acquiring an additional 18,997 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Altria Group

In related news, SVP Charles N. Whitaker sold 27,908 shares of the firm's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the completion of the transaction, the senior vice president directly owned 180,869 shares of the company's stock, valued at approximately $12,221,318.33. This trade represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MO. Barclays raised their target price on shares of Altria Group from $57.00 to $63.00 and gave the stock an "underweight" rating in a research note on Monday, February 23rd. 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. Citigroup increased their price objective on shares of Altria Group from $57.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, February 9th. Argus upgraded shares of Altria Group to a "hold" rating in a research report on Tuesday, January 13th. Finally, UBS Group lifted their target price on shares of Altria Group from $67.00 to $74.00 and gave the company a "buy" rating in a research note on Monday, March 9th. Five research 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 MarketBeat.com, Altria Group currently has an average rating of "Hold" and a consensus target price of $65.11.

Altria Group Trading Up 0.3%

Shares of MO opened at $67.96 on Friday. The business's 50 day moving average is $64.21 and its 200 day moving average is $62.61. The company has a market capitalization of $113.62 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.90 and a beta of 0.45. Altria Group, Inc. has a 12-month low of $52.82 and a 12-month high of $70.51.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.During the same period in the prior year, the company earned $1.30 earnings per share. The company's quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be given a dividend of $1.06 per share. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.2%. Altria Group's dividend payout ratio is currently 103.16%.

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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