Cullen Frost Bankers Inc. cut its position in Altria Group Inc (NYSE:MO) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,819 shares of the company’s stock after selling 6,325 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Altria Group were worth $7,155,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Comerica Securities Inc. raised its stake in Altria Group by 198.7% during the 1st quarter. Comerica Securities Inc. now owns 29,403 shares of the company’s stock valued at $2,100,000 after acquiring an additional 19,558 shares during the last quarter. Verity Asset Management Inc. purchased a new stake in Altria Group during the 1st quarter valued at approximately $251,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in Altria Group during the 1st quarter valued at approximately $1,078,000. Paloma Partners Management Co raised its stake in Altria Group by 737.7% during the 1st quarter. Paloma Partners Management Co now owns 154,140 shares of the company’s stock valued at $11,009,000 after acquiring an additional 135,740 shares during the last quarter. Finally, Edgestream Partners L.P. raised its stake in Altria Group by 514.8% during the 1st quarter. Edgestream Partners L.P. now owns 117,438 shares of the company’s stock valued at $8,387,000 after acquiring an additional 98,337 shares during the last quarter. 62.64% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on MO shares. Vetr raised Altria Group from a “buy” rating to a “strong-buy” rating and set a $71.89 target price for the company in a research note on Tuesday, October 24th. Zacks Investment Research raised Altria Group from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Wednesday, October 11th. Citigroup cut their target price on Altria Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, October 30th. Cowen raised Altria Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $64.00 to $71.00 in a research note on Tuesday, September 26th. Finally, Jefferies Group set a $72.00 target price on Altria Group and gave the stock a “hold” rating in a research note on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $72.87.
Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Altria Group had a return on equity of 49.43% and a net margin of 60.37%. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the business posted $0.82 EPS. Altria Group’s quarterly revenue was down 1.8% on a year-over-year basis. research analysts anticipate that Altria Group Inc will post 3.28 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Thursday, December 21st will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, December 20th. Altria Group’s payout ratio is currently 33.04%.
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About Altria Group
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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