Meiji Yasuda Asset Management Co Ltd. Purchases 84,312 Shares of Altria Group, Inc. (NYSE:MO)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in Altria Group, Inc. (NYSE:MO) by 269.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 115,557 shares of the company’s stock after purchasing an additional 84,312 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Altria Group were worth $5,264,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Maryland Capital Advisors Inc. grew its stake in shares of Altria Group by 154.4% during the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 349 shares during the period. BNP Paribas bought a new position in Altria Group during the first quarter worth about $27,000. MFA Wealth Advisors LLC acquired a new position in shares of Altria Group during the 2nd quarter worth about $27,000. Pineridge Advisors LLC acquired a new position in shares of Altria Group during the 4th quarter worth about $28,000. Finally, Westend Capital Management LLC bought a new stake in shares of Altria Group in the 1st quarter valued at about $29,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 0.1 %

Shares of NYSE:MO opened at $50.55 on Thursday. The firm has a market cap of $86.83 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 3.07 and a beta of 0.65. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $54.95. The company’s fifty day simple moving average is $51.15 and its 200 day simple moving average is $46.67.

Altria Group (NYSE:MO) last released 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 firm had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.39 billion. Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. Altria Group’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the company posted $1.31 EPS. Research analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be paid a dividend of $1.02 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 8.07%. The ex-dividend date is Monday, September 16th. Altria Group’s dividend payout ratio (DPR) is currently 85.36%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MO shares. Bank of America lifted their price objective on shares of Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Argus raised shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. Barclays upped their price objective on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, September 9th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Finally, UBS Group boosted their target price on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $49.67.

About Altria Group

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.