Public Employees Retirement Association of Colorado Has $10.78 Million Stock Holdings in Altria Group, Inc. (NYSE:MO)

Public Employees Retirement Association of Colorado reduced its holdings in shares of Altria Group, Inc. (NYSE:MO) by 5.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236,754 shares of the company’s stock after selling 13,052 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Altria Group were worth $10,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Scarborough Advisors LLC increased its holdings in Altria Group by 18.5% during the 2nd quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock worth $58,000 after purchasing an additional 200 shares in the last quarter. SP Asset Management LLC raised its position in Altria Group by 2.5% in the 2nd quarter. SP Asset Management LLC now owns 8,211 shares of the company’s stock valued at $374,000 after buying an additional 204 shares during the last quarter. Certuity LLC lifted its stake in Altria Group by 1.6% during the 2nd quarter. Certuity LLC now owns 13,664 shares of the company’s stock valued at $622,000 after acquiring an additional 213 shares in the last quarter. Catalyst Financial Partners LLC boosted its holdings in Altria Group by 2.0% during the 2nd quarter. Catalyst Financial Partners LLC now owns 11,269 shares of the company’s stock worth $513,000 after acquiring an additional 217 shares during the last quarter. Finally, Conning Inc. grew its stake in shares of Altria Group by 2.3% in the 2nd quarter. Conning Inc. now owns 9,794 shares of the company’s stock worth $446,000 after acquiring an additional 219 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, September 9th. Bank of America increased their price target on Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Stifel Nicolaus boosted their price objective on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Finally, UBS Group boosted their price target on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and a consensus price target of $49.67.

Altria Group Price Performance

NYSE:MO opened at $50.39 on Friday. The company has a market cap of $86.55 billion, a P/E ratio of 10.54, a P/E/G ratio of 3.07 and a beta of 0.65. Altria Group, Inc. has a 1 year low of $39.06 and a 1 year high of $54.95. The stock’s fifty day moving average price is $51.27 and its two-hundred day moving average price is $46.81.

Altria Group (NYSE:MO) last posted its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share 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 analysts’ expectations of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 EPS. On average, analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 16th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 8.10%. This is a boost from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Monday, September 16th. Altria Group’s dividend payout ratio is 85.36%.

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.