Massachusetts Financial Services Co. MA Reduces Holdings in Altria Group, Inc. $MO

Key Points

• Massachusetts Financial Services trimmed its stake in Altria by 2.3%, selling 40,099 shares and now holds 1,667,619 shares worth about $96.16 million (≈0.10% of the company).
• SVP Charles N. Whitaker sold 27,908 shares at an average price of $67.57 (≈$1.89 million), cutting his holding by 13.37% and leaving him with 180,869 shares; company insiders collectively own about 0.10% of Altria.
• Altria declared a quarterly dividend of $1.06 (annualized $4.24) for a ~6.3% yield with an ex-dividend date of March 25, while analysts hold a consensus rating of "Hold" with an average target price of $65.88 (5 Buy, 4 Hold, 2 Sell).

Massachusetts Financial Services Co. MA lowered its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,667,619 shares of the company's stock after selling 40,099 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.10% of Altria Group worth $96,155,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake 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 period. Northern Trust Corp raised its stake 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 valued at $1,103,543,000 after purchasing an additional 59,189 shares during the period. Bank of New York Mellon Corp grew 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 in the last quarter. Capital Research Global Investors grew 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 in the last quarter. Finally, JPMorgan Chase & Co. grew 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 in the last quarter. Hedge funds and other institutional investors own 57.41% of the company's stock.

Insider Transactions 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 stock was sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the transaction, the senior vice president directly owned 180,869 shares in the company, valued at $12,221,318.33. This trade represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Altria Group from $67.00 to $74.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Bank of America raised their price objective on shares of Altria Group from $72.00 to $73.00 and gave the stock a "buy" rating in a report on Friday. Citigroup raised their price objective on shares of Altria Group from $57.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, February 9th. Argus raised shares of Altria Group to a "hold" rating in a report on Tuesday, January 13th. Finally, Barclays raised their price objective on shares of Altria Group from $57.00 to $63.00 and gave the stock an "underweight" rating in a report on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $65.88.

Altria Group Price Performance

Shares of MO opened at $66.80 on Tuesday. The business's fifty day moving average price is $66.60 and its 200 day moving average price is $62.60. Altria Group, Inc. has a 12-month low of $54.70 and a 12-month high of $70.51. The stock has a market capitalization of $111.64 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.88 and a beta of 0.41.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) 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%.The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter last year, the business earned $1.30 earnings per share. The business's revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be paid a dividend of $1.06 per share. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 annualized dividend and a yield of 6.3%. Altria Group's dividend payout ratio (DPR) is 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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