On September 15, 2023, it was reported that Symmetry Partners LLC had significantly reduced its stake in Altria Group, Inc. (NYSE:MO) during the second quarter of the year. According to the disclosure filed with the Securities and Exchange Commission, Symmetry Partners LLC’s position in Altria Group decreased by 79.5%, resulting in the sale of 64,316 shares. As a result, the fund now holds 16,574 shares of Altria Group’s stock. At the end of the reporting period, these holdings were valued at approximately $751,000.
Symmetry Partners LLC’s decision to decrease its position in Altria Group can be seen as a significant move within the investment landscape. The reasons behind this decision remain unclear and may involve various factors such as changes in market conditions or adjustments to overall investment strategies.
In addition to these developments, Altria Group also recently announced that it will be paying a dividend for the quarter. Shareholders who are recorded as investors on September 15th will receive a dividend of $0.98 per share on October 10th. This represents an increase from their previous quarterly dividend of $0.94 per share.
The decision to raise dividends demonstrates Altria Group’s commitment to providing returns to its shareholders by distributing profits proportionally through dividends. It also suggests confidence from management in the company’s financial performance going forward.
By analyzing these statistics and factors, investors can gain valuable insights into the current state of affairs at Altria Group and make informed decisions concerning their own investment positions. However, it is important to note that these figures represent historical data and should not be seen as an indication or guarantee of future performance.
In conclusion, Symmetry Partners LLC has scaled back its position in Altria Group during the second quarter of this year by selling over 60,000 shares. Meanwhile, Altria Group has announced an increased quarterly dividend of $0.98 per share, demonstrating their commitment to providing returns to shareholders. As always, investors should carefully analyze these factors before making any investment decisions.
The Brink's Company
Updated on: 05/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Increasing Institutional Investment Signals Positive Outlook for Altria Group in 2023
September 15, 2023 – Altria Group, a prominent tobacco company, has recently witnessed significant activity from institutional investors. Charles Schwab Investment Management Inc., for instance, increased its stake in Altria Group by 8.7% during the fourth quarter. This move added an additional 3,516,646 shares to the company’s portfolio, bringing its total holdings to 44,066,327 shares valued at $2,000,861,000.
Geode Capital Management LLC also joined the fray by raising its position in Altria Group by 1.9% during the first quarter. Geode Capital Management LLC acquired an extra 671,929 shares of the company’s stock, now totaling 35,856,051 shares worth $1,596,257,000. Similarly, FMR LLC increased its holdings by 8.3% during the same period with an additional acquisition of 1,926,492 shares. This brought FMR LLC’s total number of Altria Group shares to 25,132,929 with an estimated value of $1.121 billion.
Bank of New York Mellon Corp flexed its purchasing power too by raising its position by 5.1% in the third quarter. The financial institution bought an extra 1,192,266 shares boosting their stake to a substantial worth of $24.517 billion.
Lastly but no less incredible is Moneta Group Investment Advisors LLC’s ownership growth of a staggering percent! The firm experienced exponential growth of over one hundred thousand percent during the fourth quarter as it amassed additional holdings amounting to a mind-boggling number of shares –18 million more to be precise! Moneta Group Investment Advisors LLC now possesses approximately 18 million shares estimated at a value exceeding $849 million.
The presence and high activity level of institutional investors and hedge funds exemplify the confidence these entities have in Altria Group. Together, they now hold an impressive 58.94% ownership stake in the company.
Market analysts have also contributed to the discussion surrounding Altria Group. StockNews.com recently initiated coverage on Altria Group, expressing a “buy” rating for the company. Meanwhile, Jefferies Financial Group adjusted its price objective range from $56.00 to $55.00 for the firm and reiterated a “buy” rating on the stock in a research note dated August 22nd.
Equity analysts worldwide present varying opinions on Altria Group, with one analyst rating it as a sell, two as hold, and three as buy. The average rating for Altria Group based on data from Bloomberg.com is currently categorized as “Hold,” while the average price target stands at $47.50.
On Friday morning, Altria Group’s stock opened at $44.10, showcasing stability in its share price. The business exhibited a 50-day simple moving average of $44.46 and a 200-day simple moving average of $45.09.
Altria Group holds a significant market capitalization of $78.26 billion and maintains favorable financial metrics such as a price-to-earnings ratio (PE) of 11.57, indicating promising investment potential despite market complexities faced by the tobacco industry today.
The company reported earnings per share (EPS) of $1.31 for its most recent quarter ending August 1st, aligning with analyst expectations precisely. Although posting a negative return on equity of 225.61%, Altria Group managed to maintain a healthy net margin of 27.40%. The quarterly revenue reached $5.44 billion, slightly surpassing estimates by approximately 1% when compared to the same period last year.
As we move forward into the current year, research analysts predict that Altria Group will achieve earnings per share (EPS) of around 5. Despite the ever-evolving landscape of the tobacco industry, Altria Group has remained resilient, making strategic moves to stay competitive in the market. The support and attention from institutional investors and analysts further validate the company’s position and future prospects.
In conclusion, Altria Group has experienced increased interest from various institutional investors over recent quarters. These investments have bolstered optimism surrounding the company, which has been reflected in the stock market. Analyst opinions remain mixed but generally indicate a positive outlook for the firm. As we look ahead, Altria Group’s performance will undoubtedly continue to garner attention as it navigates challenges within its industry while striving for steady growth and stability.