First Citizens Financial Corp lessened its holdings in Altria Group Inc (NYSE:MO) by 8.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,952 shares of the company’s stock after selling 650 shares during the quarter. First Citizens Financial Corp’s holdings in Altria Group were worth $273,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of MO. Capital World Investors increased its holdings in Altria Group by 10.9% in the 1st quarter. Capital World Investors now owns 82,778,790 shares of the company’s stock worth $3,201,056,000 after buying an additional 8,150,622 shares during the period. State Street Corp increased its holdings in Altria Group by 5.2% in the 1st quarter. State Street Corp now owns 80,112,432 shares of the company’s stock worth $3,162,460,000 after buying an additional 3,957,880 shares during the period. SG Americas Securities LLC increased its holdings in Altria Group by 2,712.5% in the 2nd quarter. SG Americas Securities LLC now owns 3,810,462 shares of the company’s stock worth $149,561,000 after buying an additional 3,956,319 shares during the period. BlackRock Inc. increased its holdings in Altria Group by 2.2% in the 1st quarter. BlackRock Inc. now owns 146,451,570 shares of the company’s stock worth $5,663,283,000 after buying an additional 3,220,828 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Altria Group by 22.7% in the 1st quarter. JPMorgan Chase & Co. now owns 16,967,449 shares of the company’s stock worth $656,132,000 after buying an additional 3,141,027 shares during the period. Institutional investors own 63.59% of the company’s stock.
MO has been the topic of several research reports. Cfra increased their price target on shares of Altria Group from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Panmure Gordon upgraded shares of Altria Group from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Friday, April 3rd. Barclays downgraded shares of Altria Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $50.00 to $43.00 in a report on Wednesday, July 8th. Citigroup raised their price objective on shares of Altria Group from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Piper Sandler reaffirmed a “buy” rating and set a $57.00 price objective on shares of Altria Group in a research note on Tuesday, July 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Altria Group presently has a consensus rating of “Buy” and a consensus target price of $50.36.
Altria Group (NYSE:MO) last announced its earnings results on Tuesday, July 28th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. Altria Group had a positive return on equity of 109.11% and a negative net margin of 3.57%. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same quarter last year, the firm posted $1.10 EPS. The business’s revenue was down 2.5% on a year-over-year basis. As a group, research analysts forecast that Altria Group Inc will post 4.3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.86 per share. This is a positive change from Altria Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Monday, September 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 8.36%. Altria Group’s dividend payout ratio (DPR) is 79.62%.
Altria Group Company 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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