Meitav Dash Investments Ltd. lowered its holdings in shares of Altria Group, Inc. (NYSE:MO – Get Rating) by 20.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,007 shares of the company’s stock after selling 15,593 shares during the period. Meitav Dash Investments Ltd.’s holdings in Altria Group were worth $3,128,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the business. State Street Corp boosted its holdings in Altria Group by 3.4% in the fourth quarter. State Street Corp now owns 71,762,274 shares of the company’s stock worth $3,465,063,000 after acquiring an additional 2,371,300 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Altria Group by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,123,753 shares of the company’s stock worth $1,617,126,000 after acquiring an additional 1,103,432 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Altria Group by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 30,391,914 shares of the company’s stock worth $1,437,087,000 after acquiring an additional 644,221 shares in the last quarter. Capital International Investors lifted its holdings in shares of Altria Group by 8.2% in the fourth quarter. Capital International Investors now owns 17,727,541 shares of the company’s stock valued at $840,078,000 after purchasing an additional 1,348,687 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Altria Group by 0.4% in the fourth quarter. Legal & General Group Plc now owns 11,066,115 shares of the company’s stock valued at $524,424,000 after purchasing an additional 38,707 shares in the last quarter. Institutional investors and hedge funds own 59.05% of the company’s stock.
Altria Group Price Performance
Shares of MO opened at $44.10 on Friday. The firm’s 50 day simple moving average is $45.15 and its 200 day simple moving average is $49.97. The company has a market capitalization of $79.42 billion, a P/E ratio of 45.46, a P/E/G ratio of 2.28 and a beta of 0.62. Altria Group, Inc. has a 1-year low of $41.00 and a 1-year high of $57.05.
Altria Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Wednesday, June 15th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 8.16%. The ex-dividend date was Tuesday, June 14th. Altria Group’s dividend payout ratio (DPR) is presently 371.13%.
Wall Street Analyst Weigh In
MO has been the topic of a number of recent analyst reports. Cowen dropped their price target on Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a report on Monday, June 27th. Bank of America dropped their price target on Altria Group from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, July 8th. Cowen dropped their price target on Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a report on Monday, June 27th. Deutsche Bank Aktiengesellschaft dropped their price target on Altria Group from $60.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, July 1st. Finally, Barclays lowered Altria Group from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $53.00 to $36.00 in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $47.00.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.
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