Hikari Power Ltd Cuts Stock Position in Altria Group, Inc. (NYSE:MO)

Hikari Power Ltd lessened its stake in shares of Altria Group, Inc. (NYSE:MO) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 433,210 shares of the company’s stock after selling 5,130 shares during the quarter. Altria Group comprises approximately 1.8% of Hikari Power Ltd’s portfolio, making the stock its 13th biggest position. Hikari Power Ltd’s holdings in Altria Group were worth $22,111,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Delta Investment Management LLC boosted its position in Altria Group by 2.9% during the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock valued at $322,000 after purchasing an additional 198 shares during the period. Scarborough Advisors LLC boosted its position in Altria Group by 18.5% during the 2nd quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock valued at $58,000 after purchasing an additional 200 shares during the period. American Institute for Advanced Investment Management LLP boosted its position in Altria Group by 3.5% during the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares during the period. Zhang Financial LLC boosted its position in Altria Group by 1.1% during the 3rd quarter. Zhang Financial LLC now owns 18,454 shares of the company’s stock valued at $942,000 after purchasing an additional 202 shares during the period. Finally, Hollencrest Capital Management boosted its position in Altria Group by 0.3% during the 2nd quarter. Hollencrest Capital Management now owns 76,595 shares of the company’s stock valued at $3,489,000 after purchasing an additional 203 shares during the period. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 1.1 %

Shares of Altria Group stock opened at $50.27 on Tuesday. The stock’s fifty day moving average is $51.40 and its 200-day moving average is $48.17. The firm has a market capitalization of $86.35 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 2.89 and a beta of 0.65. Altria Group, Inc. has a 12-month low of $39.25 and a 12-month high of $54.95.

Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.39 billion. Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm earned $1.31 earnings per share. Analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were issued a dividend of $1.02 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date was Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 8.12%. Altria Group’s payout ratio is currently 85.36%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Bank of America cut their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Barclays lifted their target price on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, September 9th. StockNews.com downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Citigroup lifted their target price on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $48.20.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.