Altria Group (MO) Shares Sold by Sumitomo Life Insurance Co.
Sumitomo Life Insurance Co. decreased its stake in Altria Group (NYSE:MO) by 10.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 78,191 shares of the company’s stock after selling 9,576 shares during the period. Altria Group comprises about 0.7% of Sumitomo Life Insurance Co.’s holdings, making the stock its 27th largest position. Sumitomo Life Insurance Co.’s holdings in Altria Group were worth $4,944,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Banced Corp boosted its position in Altria Group by 2.2% in the second quarter. Banced Corp now owns 21,147 shares of the company’s stock valued at $1,150,000 after buying an additional 464 shares in the last quarter. Concorde Asset Management LLC boosted its position in Altria Group by 35.7% in the second quarter. Concorde Asset Management LLC now owns 7,906 shares of the company’s stock valued at $547,000 after buying an additional 2,079 shares in the last quarter. Bremer Trust National Association boosted its position in Altria Group by 0.9% in the second quarter. Bremer Trust National Association now owns 67,691 shares of the company’s stock valued at $4,668,000 after buying an additional 610 shares in the last quarter. Oakworth Capital Inc. boosted its position in Altria Group by 31.9% in the second quarter. Oakworth Capital Inc. now owns 10,736 shares of the company’s stock valued at $683,000 after buying an additional 2,595 shares in the last quarter. Finally, Dorsey Wright & Associates boosted its position in Altria Group by 6.7% in the second quarter. Dorsey Wright & Associates now owns 19,873 shares of the company’s stock valued at $1,370,000 after buying an additional 1,241 shares in the last quarter. Hedge funds and other institutional investors own 59.90% of the company’s stock.
Shares of Altria Group (NYSE:MO) traded down 0.10% on Friday, hitting $67.44. 1,528,126 shares of the stock were exchanged. The company has a 50-day moving average price of $66.47 and a 200-day moving average price of $65.65. The firm has a market capitalization of $131.64 billion, a PE ratio of 25.35 and a beta of 0.55. Altria Group has a one year low of $56.15 and a one year high of $70.15.
Altria Group (NYSE:MO) last released its earnings results on Thursday, October 27th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The business earned $6.90 billion during the quarter, compared to the consensus estimate of $5.11 billion. Altria Group had a net margin of 20.19% and a return on equity of 202.19%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. Equities research analysts expect that Altria Group will post $3.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 10th. Investors of record on Thursday, December 22nd were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Tuesday, December 20th. Altria Group’s dividend payout ratio (DPR) is currently 91.73%.
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Several equities research analysts recently issued reports on the stock. Vetr lowered shares of Altria Group from a “buy” rating to a “hold” rating and set a $68.29 price objective for the company. in a research note on Tuesday, November 1st. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $68.00 price objective (down previously from $69.00) on shares of Altria Group in a research note on Saturday, October 15th. Citigroup Inc. reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Altria Group in a research note on Monday, September 26th. reduced their price objective on shares of Altria Group from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, September 15th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $74.00 price objective on shares of Altria Group in a research note on Wednesday, December 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $70.50.
In related news, CEO Martin J. Barrington sold 15,960 shares of the firm’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $65.85, for a total value of $1,050,966.00. Following the completion of the transaction, the chief executive officer now owns 833,577 shares of the company’s stock, valued at $54,891,045.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.
Altria Group Company Profile
Altria Group, Inc is a holding company. 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 large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.
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