Teacher Retirement System of Texas Acquires 148,228 Shares of Altria Group, Inc. $MO

Key Points

• Teacher Retirement System of Texas raised its stake in Altria by 14.5%, buying 148,228 shares to hold 1,169,116 shares worth about $67.41 million (≈0.07% of the company).
• Altria declared a quarterly dividend of $1.06 (annualized $4.24) implying a 6.5% yield
• Institutional investors own 57.41% of Altria and several large funds (Ameriprise, Northern Trust, BNY Mellon, Capital Research, JPMorgan) recently increased positions, even as SVP Charles N. Whitaker sold 27,908 shares (a 13.37% reduction), leaving him with 180,869 shares (~$12.2M).

Teacher Retirement System of Texas grew its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 14.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,169,116 shares of the company's stock after buying an additional 148,228 shares during the quarter. Teacher Retirement System of Texas owned 0.07% of Altria Group worth $67,411,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its position in shares of Altria Group by 19.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 19,567,823 shares of the company's stock worth $1,285,575,000 after buying an additional 3,172,753 shares in the last quarter. Northern Trust Corp lifted its position in shares of Altria Group by 0.4% during the 3rd quarter. Northern Trust Corp now owns 16,705,159 shares of the company's stock worth $1,103,543,000 after buying an additional 59,189 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Altria Group by 1.1% during the 3rd 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 lifted its position in shares of Altria Group by 0.4% during the 3rd 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. 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 worth $797,587,000 after buying an additional 814,665 shares in the last quarter. Institutional investors own 57.41% of the company's stock.

Insiders Place Their Bets

In related news, SVP Charles N. Whitaker sold 27,908 shares of Altria Group stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the transaction, the senior vice president directly owned 180,869 shares in the company, valued at approximately $12,221,318.33. The trade was a 13.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MO shares. Citigroup lifted their target price on shares of Altria Group from $57.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, February 9th. Barclays lifted their target price on shares of Altria Group from $57.00 to $63.00 and gave the stock an "underweight" rating in a research report on Monday, February 23rd. Bank of America raised their price target on shares of Altria Group from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, April 10th. 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 note on Monday, March 9th. Finally, Argus upgraded shares of Altria Group to a "hold" rating in a research note on Tuesday, January 13th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $65.88.

Altria Group Trading Up 0.8%

Altria Group stock opened at $65.14 on Thursday. Altria Group, Inc. has a 1-year low of $54.70 and a 1-year high of $70.51. The firm has a market capitalization of $108.87 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 2.59 and a beta of 0.41. The firm has a 50 day simple moving average of $66.58 and a 200 day simple moving average of $62.57.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share 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 had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.02 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The firm's quarterly revenue was down .5% on a year-over-year basis. On average, equities research analysts forecast that Altria Group, Inc. will post 5.61 EPS for the current year.

Altria Group Dividend Announcement

The firm 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 $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Wednesday, March 25th. Altria Group's payout ratio is currently 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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