Stillwater Investment Management LLC Acquires 50,817 Shares of Altria Group Inc (MO)
Stillwater Investment Management LLC grew its holdings in Altria Group Inc (NYSE:MO) by 1,303.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 54,717 shares of the company’s stock after buying an additional 50,817 shares during the period. Altria Group comprises 1.7% of Stillwater Investment Management LLC’s portfolio, making the stock its 25th biggest holding. Stillwater Investment Management LLC’s holdings in Altria Group were worth $2,764,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MO. Janus Henderson Group PLC increased its stake in shares of Altria Group by 21,647.0% in the second quarter. Janus Henderson Group PLC now owns 19,831,702 shares of the company’s stock worth $1,476,867,000 after purchasing an additional 19,740,509 shares in the last quarter. BlackRock Inc. increased its stake in shares of Altria Group by 7.6% in the second quarter. BlackRock Inc. now owns 127,525,988 shares of the company’s stock worth $9,496,859,000 after purchasing an additional 8,969,677 shares in the last quarter. Capital World Investors increased its stake in shares of Altria Group by 27.6% in the second quarter. Capital World Investors now owns 41,157,755 shares of the company’s stock worth $3,065,018,000 after purchasing an additional 8,914,575 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Altria Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 136,023,361 shares of the company’s stock worth $10,129,659,000 after purchasing an additional 2,690,270 shares in the last quarter. Finally, APG Asset Management N.V. increased its stake in shares of Altria Group by 67.7% in the third quarter. APG Asset Management N.V. now owns 4,893,005 shares of the company’s stock worth $310,314,000 after purchasing an additional 1,974,500 shares in the last quarter. Institutional investors and hedge funds own 62.75% of the company’s stock.
A number of brokerages have recently issued reports on MO. Vetr raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $71.45 price objective for the company in a research note on Monday. Zacks Investment Research raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Tuesday. Piper Jaffray Companies increased their price objective on shares of Altria Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $62.00 target price (down from $65.00) on shares of Altria Group in a research note on Monday. Finally, Jefferies Group raised shares of Altria Group from a “hold” rating to a “buy” rating and cut their target price for the company from $70.04 to $70.00 in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $73.20.
Altria Group (NYSE:MO) last posted its earnings results on Thursday, February 1st. The company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.11. The company had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Altria Group had a net margin of 39.97% and a return on equity of 50.01%. Altria Group’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the company posted $0.68 earnings per share. equities analysts predict that Altria Group Inc will post 4 EPS for the current fiscal year.
Altria Group declared that its Board of Directors has approved a share repurchase program on Thursday, February 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Thursday, December 21st were paid a dividend of $0.66 per share. The ex-dividend date was Wednesday, December 20th. This represents a $2.64 annualized dividend and a yield of 3.95%. Altria Group’s payout ratio is 49.62%.
COPYRIGHT VIOLATION WARNING: This piece was reported by Watch List News and is owned by of Watch List News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright & trademark laws. The legal version of this piece can be read at https://www.watchlistnews.com/stillwater-investment-management-llc-acquires-50817-shares-of-altria-group-inc-mo/1851986.html.
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.
Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group Inc (NYSE:MO).
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.