Hikari Tsushin Inc. Cuts Holdings in Altria Group, Inc. $MO

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Hikari Tsushin Inc. significantly reduced its stake in Altria Group by 81.8% in the third quarter, selling 129,561 shares and retaining 28,805 shares valued at approximately $1.903 million. Other institutional investors showed mixed activity, with some increasing and others decreasing their positions. Altria recently announced a quarterly dividend of $1.06 per share and a $2.0 billion share repurchase plan, and while the company missed Q4 EPS estimates, analysts generally have a “Hold” rating with an average target price of $64.33.

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