Hikari Tsushin Inc. Has $16.68 Million Position in Altria Group, Inc. (NYSE:MO)

Key Points

• Hikari Tsushin Inc. reduced its stake in Altria Group by 7.7%, holding 277,957 shares worth approximately $16.68 million at the end of the first quarter.
• Analysts have mixed views on Altria Group, with two sell ratings, six hold ratings, and two buy ratings; the average rating is currently "Hold" with a consensus price target of $59.13.
• Altria recently declared a quarterly dividend of $1.02, representing an annualized yield of 6.2%, with a payout ratio of 78.92%.

Hikari Tsushin Inc. reduced its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 277,957 shares of the company's stock after selling 23,122 shares during the period. Altria Group makes up about 1.1% of Hikari Tsushin Inc.'s investment portfolio, making the stock its 11th biggest position. Hikari Tsushin Inc.'s holdings in Altria Group were worth $16,683,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vista Investment Partners II LLC increased its position in shares of Altria Group by 4.2% during the first quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company's stock worth $258,000 after acquiring an additional 174 shares in the last quarter. Wealth Alliance LLC increased its position in shares of Altria Group by 1.9% during the first quarter. Wealth Alliance LLC now owns 9,452 shares of the company's stock worth $567,000 after acquiring an additional 174 shares in the last quarter. Patten & Patten Inc. TN increased its position in shares of Altria Group by 1.5% during the first quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company's stock worth $723,000 after acquiring an additional 174 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC increased its position in shares of Altria Group by 2.7% during the first quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company's stock worth $406,000 after acquiring an additional 175 shares in the last quarter. Finally, Ironwood Investment Counsel LLC increased its position in shares of Altria Group by 4.1% during the first quarter. Ironwood Investment Counsel LLC now owns 4,721 shares of the company's stock worth $283,000 after acquiring an additional 187 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group raised shares of Altria Group from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Jefferies Financial Group started coverage on shares of Altria Group in a research report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 target price for the company. Morgan Stanley raised their target price on shares of Altria Group from $57.00 to $62.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Finally, Citigroup raised their target price 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $59.13.

Altria Group Price Performance

Altria Group stock opened at $66.00 on Wednesday. The firm has a market capitalization of $110.87 billion, a PE ratio of 12.77, a P/E/G ratio of 3.53 and a beta of 0.59. The company's 50-day moving average is $59.93 and its 200-day moving average is $58.03. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $66.29.

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

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 16th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Monday, June 16th. Altria Group's dividend payout ratio is currently 78.92%.

Altria Group Company Profile

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.

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.