Toronto Dominion Bank Increases Stock Holdings in Altria Group Inc (NYSE:MO)
Toronto Dominion Bank lifted its holdings in shares of Altria Group Inc (NYSE:MO) by 0.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,268,033 shares of the company’s stock after purchasing an additional 4,800 shares during the quarter. Toronto Dominion Bank owned about 0.12% of Altria Group worth $51,793,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of MO. Public Employees Retirement Association of Colorado raised its holdings in Altria Group by 3.0% in the first quarter. Public Employees Retirement Association of Colorado now owns 353,576 shares of the company’s stock valued at $13,673,000 after acquiring an additional 10,260 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Altria Group by 36.9% in the first quarter. Russell Investments Group Ltd. now owns 484,621 shares of the company’s stock valued at $18,680,000 after acquiring an additional 130,583 shares during the period. Frontier Wealth Management LLC boosted its position in shares of Altria Group by 77.6% during the 1st quarter. Frontier Wealth Management LLC now owns 17,706 shares of the company’s stock worth $685,000 after purchasing an additional 7,734 shares in the last quarter. BRYN MAWR TRUST Co grew its stake in shares of Altria Group by 113.8% during the 1st quarter. BRYN MAWR TRUST Co now owns 82,034 shares of the company’s stock worth $3,172,000 after purchasing an additional 43,660 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Altria Group by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 404,973 shares of the company’s stock valued at $15,660,000 after purchasing an additional 6,784 shares in the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on MO shares. Deutsche Bank upped their target price on shares of Altria Group from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Barclays cut Altria Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $50.00 to $43.00 in a report on Wednesday, July 8th. ValuEngine cut Altria Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 6th. Citigroup upped their target price on Altria Group from $45.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $52.00 price target on shares of Altria Group in a research report on Monday, June 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $50.36.
Altria Group (NYSE:MO) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.08 billion. Altria Group had a positive return on equity of 109.11% and a negative net margin of 3.57%. Altria Group’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 EPS. Research analysts forecast that Altria Group Inc will post 4.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Tuesday, September 15th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 8.24%. This is an increase from Altria Group’s previous quarterly dividend of $0.84. The ex-dividend date is Monday, September 14th. Altria Group’s dividend payout ratio (DPR) is 79.62%.
Altria Group Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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