Employees Retirement System of Texas Has $17.87 Million Stock Position in Altria Group, Inc. $MO

Employees Retirement System of Texas lowered its position in Altria Group, Inc. (NYSE:MO) by 14.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,562 shares of the company’s stock after selling 44,940 shares during the quarter. Employees Retirement System of Texas’ holdings in Altria Group were worth $17,873,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. BOKF NA increased its holdings in Altria Group by 6.0% in the third quarter. BOKF NA now owns 64,555 shares of the company’s stock worth $4,265,000 after buying an additional 3,640 shares during the last quarter. Magnolia Capital Advisors LLC lifted its stake in Altria Group by 2.0% in the third quarter. Magnolia Capital Advisors LLC now owns 15,210 shares of the company’s stock valued at $1,005,000 after acquiring an additional 302 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Altria Group by 752.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 764,095 shares of the company’s stock worth $50,476,000 after acquiring an additional 674,443 shares in the last quarter. SageView Advisory Group LLC grew its position in Altria Group by 7.3% in the third quarter. SageView Advisory Group LLC now owns 35,500 shares of the company’s stock worth $2,345,000 after acquiring an additional 2,414 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Altria Group by 13.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,521,040 shares of the company’s stock worth $166,540,000 after purchasing an additional 299,208 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MO. Argus upgraded shares of Altria Group to a “hold” rating in a report on Tuesday, January 13th. Barclays increased their target price on shares of Altria Group from $57.00 to $63.00 and gave the stock an “underweight” rating in a research report on Monday, February 23rd. Citigroup raised their target price on Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Stifel Nicolaus reduced their price target on Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Finally, UBS Group upped their price target on Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $65.11.

Insiders Place Their Bets

In related news, SVP Charles N. Whitaker sold 27,908 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the transaction, the senior vice president directly owned 180,869 shares in the company, valued at $12,221,318.33. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.08% of the stock is currently owned by company insiders.

Altria Group Stock Up 1.9%

Shares of NYSE MO opened at $67.63 on Friday. Altria Group, Inc. has a 12 month low of $52.82 and a 12 month high of $70.51. The company has a market cap of $113.07 billion, a P/E ratio of 16.46, a P/E/G ratio of 2.83 and a beta of 0.45. The business’s 50 day moving average is $64.00 and its two-hundred day moving average is $62.63.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.Altria Group’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company posted $1.30 earnings per share. Sell-side analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be paid a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Wednesday, March 25th. Altria Group’s dividend payout ratio (DPR) is presently 103.16%.

Altria Group Company Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.