US Bancorp DE Trims Holdings in Altria Group, Inc. (NYSE:MO)

Key Points

• US Bancorp DE reduced its holdings in Altria Group, Inc. by 3.4%, owning 569,733 shares, worth approximately $34.2 million after selling 19,975 shares in the first quarter.
• Several hedge funds have increased their investments in Altria Group, with Northern Trust Corp and Invesco Ltd. raising their stakes by 9.6% and 9.1%, respectively.
• Altria recently reported earnings of $1.44 EPS for the last quarter, surpassing expectations, while it also announced a quarterly dividend of $1.02 per share with a dividend yield of 6.6%.

US Bancorp DE trimmed its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 569,733 shares of the company's stock after selling 19,975 shares during the period. US Bancorp DE's holdings in Altria Group were worth $34,195,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Northern Trust Corp lifted its stake in Altria Group by 9.6% in the fourth quarter. Northern Trust Corp now owns 16,432,535 shares of the company's stock worth $859,257,000 after purchasing an additional 1,444,021 shares during the last quarter. Invesco Ltd. boosted its holdings in Altria Group by 9.1% during the 4th quarter. Invesco Ltd. now owns 11,801,958 shares of the company's stock valued at $617,124,000 after acquiring an additional 983,328 shares during the period. Royal Bank of Canada grew its position in Altria Group by 17.4% during the 4th quarter. Royal Bank of Canada now owns 8,927,340 shares of the company's stock worth $466,811,000 after acquiring an additional 1,323,421 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Altria Group by 14.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,569,122 shares of the company's stock worth $343,499,000 after purchasing an additional 805,558 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Altria Group by 3.7% during the fourth quarter. First Trust Advisors LP now owns 6,218,299 shares of the company's stock valued at $325,155,000 after purchasing an additional 222,584 shares during the period. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Up 0.6%

NYSE:MO traded up $0.40 during mid-day trading on Thursday, reaching $63.55. The company's stock had a trading volume of 4,883,630 shares, compared to its average volume of 9,193,452. Altria Group, Inc. has a 1 year low of $48.86 and a 1 year high of $63.76. The stock has a fifty day moving average of $59.56 and a 200-day moving average of $57.62. The firm has a market capitalization of $106.76 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 3.36 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.07. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%. The business had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.21 billion. During the same quarter last year, the firm earned $1.31 EPS. The business's revenue for the quarter was up .2% on a year-over-year basis. On average, analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 16th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend was Monday, June 16th. Altria Group's dividend payout ratio is presently 78.92%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Jefferies Financial Group initiated coverage on Altria Group in a research report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective on the stock. Citigroup lifted their target price on Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Needham & Company LLC raised Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Finally, Stifel Nicolaus upped their price objective on Altria Group from $63.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Altria Group presently has a consensus rating of "Hold" and an average price target of $59.13.

Altria Group 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.