US Bancorp DE Boosts Stake in Altria Group, Inc. $MO

US Bancorp DE grew its holdings in shares of Altria Group, Inc. (NYSE:MO) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 603,834 shares of the company’s stock after acquiring an additional 18,626 shares during the period. US Bancorp DE’s holdings in Altria Group were worth $39,889,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Darwin Wealth Management LLC acquired a new stake in Altria Group during the 2nd quarter valued at approximately $27,000. Country Trust Bank grew its position in shares of Altria Group by 400.0% during the second quarter. Country Trust Bank now owns 500 shares of the company’s stock worth $29,000 after buying an additional 400 shares in the last quarter. Anfield Capital Management LLC grew its position in shares of Altria Group by 334.7% during the second quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock worth $32,000 after buying an additional 415 shares in the last quarter. Winnow Wealth LLC bought a new stake in shares of Altria Group in the second quarter worth $35,000. Finally, WFA of San Diego LLC acquired a new stake in Altria Group in the second quarter valued at $39,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Down 0.4%

MO opened at $69.42 on Friday. The company’s 50-day moving average price is $62.11 and its 200 day moving average price is $62.55. Altria Group, Inc. has a fifty-two week low of $52.82 and a fifty-two week high of $70.24. The firm has a market cap of $116.53 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 3.00 and a beta of 0.47.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 29th. The company reported $1.30 earnings per share 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%.During the same period last year, the firm earned $1.30 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. Research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be issued a dividend of $1.06 per share. 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 payout ratio is 103.16%.

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

Analyst Ratings Changes

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