Intech Investment Management LLC Has $12.37 Million Stock Holdings in Altria Group, Inc. $MO

Intech Investment Management LLC cut its position in Altria Group, Inc. (NYSE:MO) by 36.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 187,212 shares of the company’s stock after selling 108,018 shares during the period. Intech Investment Management LLC’s holdings in Altria Group were worth $12,367,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. CWA Asset Management Group LLC raised its position in shares of Altria Group by 8.6% in the third quarter. CWA Asset Management Group LLC now owns 335,418 shares of the company’s stock valued at $22,158,000 after purchasing an additional 26,624 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Altria Group by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,522,209 shares of the company’s stock valued at $232,677,000 after buying an additional 44,303 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Altria Group by 7.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,073,682 shares of the company’s stock worth $797,587,000 after purchasing an additional 814,665 shares in the last quarter. Vanguard Group Inc. grew its stake in Altria Group by 1.0% during the second quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock worth $9,364,216,000 after buying an additional 1,599,923 shares in the last quarter. Finally, Silver Oak Securities Incorporated increased its stake in Altria Group by 155.4% in the third quarter. Silver Oak Securities Incorporated now owns 31,220 shares of the company’s stock valued at $2,062,000 after acquiring an additional 18,997 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Price Performance

MO opened at $69.42 on Friday. The firm has a market capitalization of $116.53 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 3.00 and a beta of 0.47. The company has a fifty day moving average price of $62.11 and a 200-day moving average price of $62.55. Altria Group, Inc. has a one year low of $52.82 and a one year high of $70.24.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 earnings per share. On average, analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group announced that its Board of Directors has approved a share buyback plan on Thursday, October 30th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Altria Group Announces Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $4.24 annualized dividend and a dividend yield of 6.1%. Altria Group’s dividend payout ratio (DPR) is presently 103.16%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MO shares. Citigroup upped their price objective on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. UBS Group upped their target price on Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a report on Monday, January 26th. Argus raised Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Barclays lifted their price objective on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Monday. Finally, Stifel Nicolaus dropped their price target on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $64.33.

About Altria Group

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.