Meiji Yasuda Asset Management Co Ltd. Sells 41,740 Shares of Altria Group, Inc. $MO

Key Points

• Meiji Yasuda Asset Management cut its stake in Altria Group (MO) by 50.1%, selling 41,740 shares and leaving 41,492 shares valued at about $2.74 million at quarter-end.
• Altria declared a quarterly dividend of $1.06 per share (annualized $4.24), a yield of 6.4%, payable April 30 with an ex‑dividend/record date of March 25.
• The stock has a consensus rating of "Hold" with an average target of $64.33; shares traded near $66.48, and Altria slightly missed quarterly EPS at $1.30 versus a consensus of $1.32.

Meiji Yasuda Asset Management Co Ltd. decreased its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 50.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,492 shares of the company's stock after selling 41,740 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Altria Group were worth $2,741,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Darwin Wealth Management LLC purchased a new position in shares of Altria Group during the second quarter valued at approximately $27,000. Country Trust Bank lifted its stake in Altria Group by 400.0% in the second quarter. Country Trust Bank now owns 500 shares of the company's stock worth $29,000 after acquiring an additional 400 shares during the period. Anfield Capital Management LLC boosted its holdings in Altria Group by 334.7% in the second quarter. Anfield Capital Management LLC now owns 539 shares of the company's stock valued at $32,000 after acquiring an additional 415 shares in the last quarter. Winnow Wealth LLC bought a new stake in Altria Group in the second quarter valued at $35,000. Finally, WFA of San Diego LLC purchased a new position in Altria Group during the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MO. Argus raised shares of Altria Group to a "hold" rating in a research report on Tuesday, January 13th. Citigroup boosted their price target on shares of Altria Group from $57.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, February 9th. 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. UBS Group lifted their price objective on Altria Group from $63.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, January 26th. Finally, Jefferies Financial Group upped their target price on Altria Group from $47.00 to $50.00 and gave the stock an "underperform" rating in a report on Wednesday, March 4th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $64.33.

Altria Group Trading Down 0.7%

Shares of MO stock opened at $66.48 on Monday. The company's fifty day moving average price is $63.25 and its 200-day moving average price is $62.58. The stock has a market cap of $111.15 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 2.84 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 issued its quarterly earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 EPS. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently disclosed 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. This represents a $4.24 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group's dividend payout ratio (DPR) is 103.16%.

About Altria Group

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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