St. Louis Trust Co lowered its stake in Altria Group Inc (NYSE:MO) by 41.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,500 shares of the company’s stock after selling 10,314 shares during the quarter. St. Louis Trust Co’s holdings in Altria Group were worth $875,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Altria Group by 3.4% in the second quarter. BlackRock Inc. now owns 138,589,215 shares of the company’s stock worth $7,870,481,000 after buying an additional 4,581,335 shares during the period. FMR LLC raised its stake in shares of Altria Group by 14.1% in the second quarter. FMR LLC now owns 37,263,858 shares of the company’s stock worth $2,116,214,000 after buying an additional 4,613,088 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Altria Group by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 21,786,839 shares of the company’s stock worth $1,237,273,000 after buying an additional 855,416 shares during the period. Janus Henderson Group PLC raised its stake in shares of Altria Group by 2.6% in the second quarter. Janus Henderson Group PLC now owns 18,492,919 shares of the company’s stock worth $1,050,215,000 after buying an additional 460,964 shares during the period. Finally, Morgan Stanley raised its stake in shares of Altria Group by 49.6% in the second quarter. Morgan Stanley now owns 16,461,864 shares of the company’s stock worth $934,869,000 after buying an additional 5,454,989 shares during the period. 63.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MO opened at $63.67 on Friday. The company has a market cap of $119.64 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 1.81 and a beta of 0.40. Altria Group Inc has a 12-month low of $53.91 and a 12-month high of $74.38. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.36 and a current ratio of 0.60.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Friday, September 14th were paid a $0.80 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $3.20 dividend on an annualized basis and a yield of 5.03%. Altria Group’s payout ratio is presently 94.67%.
In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of Altria Group 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.
Several research analysts have recently commented on the company. ValuEngine raised Altria Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Citigroup lifted their target price on Altria Group from $59.00 to $67.00 and gave the company a “hold” rating in a research note on Friday, September 21st. Sanford C. Bernstein assumed coverage on Altria Group in a research note on Tuesday, October 16th. They set a “market perform” rating on the stock. Zacks Investment Research downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Finally, Stifel Nicolaus decreased their target price on Altria Group from $78.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $69.87.
Altria Group Profile
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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