First Hawaiian Bank Grows Holdings in Altria Group Inc (MO)

First Hawaiian Bank raised its position in Altria Group Inc (NYSE:MO) by 582.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,449 shares of the company’s stock after acquiring an additional 37,934 shares during the quarter. First Hawaiian Bank’s holdings in Altria Group were worth $2,681,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First United Bank Trust acquired a new position in shares of Altria Group during the third quarter worth about $228,000. Stock Yards Bank & Trust Co. grew its position in shares of Altria Group by 5.2% during the third quarter. Stock Yards Bank & Trust Co. now owns 59,415 shares of the company’s stock worth $3,583,000 after buying an additional 2,953 shares in the last quarter. Capital Investment Advisors LLC grew its position in shares of Altria Group by 7.8% during the third quarter. Capital Investment Advisors LLC now owns 199,575 shares of the company’s stock worth $12,036,000 after buying an additional 14,461 shares in the last quarter. Security National Bank acquired a new position in shares of Altria Group during the third quarter worth about $246,000. Finally, Berkshire Asset Management LLC PA grew its position in shares of Altria Group by 20.1% during the third quarter. Berkshire Asset Management LLC PA now owns 55,064 shares of the company’s stock worth $3,321,000 after buying an additional 9,221 shares in the last quarter. 63.12% of the stock is owned by institutional investors.

MO stock opened at $60.77 on Wednesday. The company has a market cap of $113.69 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 1.71 and a beta of 0.61. Altria Group Inc has a fifty-two week low of $53.91 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.65 and a quick ratio of 0.31.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, July 26th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. As a group, sell-side analysts anticipate that Altria Group Inc will post 4 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Friday, September 14th were paid a dividend of $0.80 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, September 13th. This represents a $3.20 annualized dividend and a yield of 5.27%. Altria Group’s payout ratio is presently 94.67%.

In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $58.44, for a total value of $184,962.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by insiders.

A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Altria Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Citigroup boosted their price objective on Altria Group from $59.00 to $67.00 and gave the stock a “hold” rating in a research report on Friday, September 21st. Sanford C. Bernstein started coverage on Altria Group in a research note on Tuesday. They set a “market perform” rating for the company. Bank of America set a $70.00 target price on Altria Group and gave the stock a “buy” rating in a research note on Thursday, September 13th. Finally, ValuEngine upgraded Altria Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $70.28.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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