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MO Altria

Altria Group, Inc. is an American corporation and one of the world's largest producers and marketers of tobacco, cigarettes and related products. It operates worldwide and is headquartered in unincorporated Henrico County, Virginia, just outside the city of Richmond. Altria is the parent company of Philip Morris USA , John Middleton, Inc., U.S. Smokeless Tobacco Company, Inc., Philip Morris Capital Corporation, and Chateau Ste. Michelle Wine Estates. Altria also maintains large minority stakes in Belgium-based brewer ABInBev, the Canadian cannabis company Cronos Group, and the e-cigarette maker JUUL Labs. It is a component of the S&P 500 and was a component of the Dow Jones Industrial Average from 1985 to 2008, dropping due to spin-offs of Kraft Foods Inc. in 2007 and Philip Morris International in 2008.

Company profile

Ticker
MO
Exchange
Website
CEO
William Gifford
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
ALTRIA GROUP INC, PHILIP MORRIS COMPANIES INC
SEC CIK
IRS number
133260245

MO stock data

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Calendar

26 Feb 21
12 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Altria earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
31 Mar 21 Munoz George Phantom Stock Units Common Stock Grant Aquire A No No 51.165 537 27.48K 17,458
31 Mar 21 Ellen R Strahlman Phantom Stock Units Common Stock Grant Aquire A No No 51.165 537 27.48K 988
31 Mar 21 Farrell Thomas F Ii Phantom Stock Units Common Stock Grant Aquire A No No 51.165 269 13.76K 42,504
25 Feb 21 Daniel J Bryant Common Stock Grant Aquire A No No 0 4,277 0 40,166
25 Feb 21 Steve D'Ambrosia Common Stock Grant Aquire A No No 0 2,273 0 12,893

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

60.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1564 1503 +4.1%
Opened positions 197 116 +69.8%
Closed positions 136 97 +40.2%
Increased positions 525 582 -9.8%
Reduced positions 641 598 +7.2%
13F shares
Current Prev Q Change
Total value 46.86B 44.64B +5.0%
Total shares 1.12B 1.15B -3.4%
Total puts 11.05M 9.54M +15.8%
Total calls 12.06M 12.73M -5.3%
Total put/call ratio 0.9 0.7 +22.3%
Largest owners
Shares Value Change
Vanguard 151.6M $6.22B -1.0%
BLK Blackrock 130.58M $5.35B -9.0%
Capital World Investors 113.35M $4.65B +7.4%
STT State Street 73.68M $3.08B -5.0%
FMR 51.11M $2.1B -11.0%
Capital Research Global Investors 32.13M $1.32B +5.1%
Charles Schwab Investment Management 29.58M $1.21B +13.9%
Geode Capital Management 27.52M $1.13B +1.3%
BK Bank Of New York Mellon 23.37M $958.19M +11.0%
JPM JPMorgan Chase & Co. 20.12M $824.84M -13.0%
Largest transactions
Shares Bought/sold Change
BLK Blackrock 130.58M -12.85M -9.0%
Capital World Investors 113.35M +7.78M +7.4%
FMR 51.11M -6.29M -11.0%
FIL 5.2M +4.56M +720.2%
AIG American International 643.01K -4.2M -86.7%
Epoch Investment Partners 0 -3.97M EXIT
STT State Street 73.68M -3.89M -5.0%
Two Sigma Advisers 0 -3.63M EXIT
Charles Schwab Investment Management 29.58M +3.61M +13.9%
JHG Janus Henderson 799.9K -3.33M -80.6%

Financial report summary

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Risks
  • Unfavorable litigation outcomes could materially adversely affect the consolidated results of operations, cash flows or financial position of Altria or the businesses of one or more of its subsidiaries or investees.
  • Significant federal, state and local governmental actions, including actions by the FDA, and various private sector actions may continue to have an adverse impact on us and our tobacco subsidiaries’ or our investees’ businesses and sales volumes.
  • Tobacco products are subject to substantial taxation, which could have an adverse impact on sales of the tobacco products of Altria’s tobacco subsidiaries.
  • Unfavorable outcomes of any governmental investigations could materially affect the businesses of Altria and its subsidiaries or its investees.
  • A challenge to our tax positions or an increase in the income tax rate could adversely affect our earnings or cash flow.
  • International business operations subject Altria and its subsidiaries to various United States and foreign laws and regulations, and violations of such laws or regulations could result in reputational harm, legal challenges and/or significant costs.
  • Altria, its subsidiaries and its investees face various risks related to health epidemics and pandemics, including the COVID-19 pandemic and similar outbreaks, which could have a material adverse effect on the business, consolidated results of operations, cash flows or financial position of Altria and its subsidiaries and investees.
  • Our tobacco businesses face significant competition (including across categories) and their failure to compete effectively could have an adverse effect on the consolidated results of operations or cash flows of Altria, or the business of Altria’s tobacco subsidiaries.
  • Altria and its subsidiaries may be unsuccessful in anticipating changes in adult consumer preferences, responding to changes in consumer purchase behavior or managing through difficult competitive and economic conditions, which could have an adverse effect on the consolidated results of operations and cash flows of Altria or the business of Altria’s tobacco and wine subsidiaries.
  • Altria’s tobacco subsidiaries and investees may be unsuccessful in developing and commercializing adjacent products or processes, including innovative tobacco products that may reduce the health risks associated with certain other tobacco products and that appeal to adult tobacco consumers, which may have an adverse effect on their ability to grow new revenue streams and/or put them at a competitive disadvantage.
  • Significant changes in price, availability or quality of tobacco, other raw materials or component parts could have an adverse effect on the profitability and business of Altria’s tobacco subsidiaries and investees.
  • Altria’s subsidiaries rely on a few significant facilities and a small number of key suppliers, distributors and distribution chain service providers. An extended disruption at a facility or in service by a supplier, distributor or distribution chain service provider could have a material adverse effect on the business, the consolidated results of operations, cash flows or financial position of Altria and its tobacco and wine subsidiaries and investees.
  • Altria’s subsidiaries could decide or be required to recall products, which could have a material adverse effect on the business, reputation, consolidated results of operations, cash flows or financial position of Altria and its subsidiaries.
  • The failure of Altria’s information systems or service providers’ information systems to function as intended, or cyber-attacks or security breaches, could have a material adverse effect on the business, reputation, consolidated results of operations, cash flows or financial position of Altria and its subsidiaries.
  • Altria may be unable to attract and retain the best talent due to the impact of decreasing social acceptance of tobacco usage, tobacco control actions and other factors.
  • Altria may be required to write down intangible assets, including goodwill, due to impairment, which could have a material adverse effect on our results of operations or financial position.
  • Competition, changes in adult consumer preferences, unfavorable changes in grape supply and new governmental regulations or revisions to existing governmental regulations could adversely affect Ste. Michelle’s wine business.
  • Acquisitions or other events may adversely affect Altria’s credit rating, and Altria may not achieve its anticipated strategic or financial objectives of a transaction.
  • Disruption and uncertainty in the credit and capital markets could adversely affect Altria’s access to these markets, earnings and dividend rate.
  • Altria may be unable to attract investors due to the impact of decreasing social acceptance of tobacco usage.
  • A challenge to our investment in JUUL, if successful, could result in a broad range of resolutions, including divestiture of the investment or rescission of the transaction.
  • The expected benefits of the JUUL transaction may not materialize in the expected manner or timeframe or at all.
  • Our investment in JUUL includes non-competition, standstill and transfer restrictions that prevent us from gaining control of JUUL. Furthermore, if we elect not to extend our non-competition obligations beyond December 20, 2024, we would lose certain of our governance, consent, preemptive and other rights with respect to our investment in JUUL.
  • Altria’s reported earnings from and carrying value of its equity investment in ABI and the dividends paid by ABI on shares owned by Altria may be adversely affected by various factors, including foreign currency exchange rates and ABI’s business results, including as a result of the COVID-19 pandemic, and stock price. In addition, if the carrying value of our investment in ABI exceeds its fair value and the loss in value is other than temporary, the investment is considered impaired, which would result in impairment losses.
  • We received a substantial portion of our consideration from the October 2016 SABMiller plc (“SABMiller”)/ABI business combination (“ABI Transaction”) in the form of restricted shares subject to a five-year lock-up. Furthermore, if our percentage ownership in ABI were to decrease below certain levels, we may be subject to additional tax liabilities, incur a reduction in the number of directors that we can have appointed to the ABI Board of Directors and be unable to account for our investment under the equity method of accounting.
  • Tax authorities may challenge the tax treatment of the consideration Altria received in the ABI Transaction and the tax treatment of the ABI investment may not be as favorable as Altria anticipates.
  • The expected benefits of the Cronos transaction may not materialize in the expected manner or timeframe or at all.
Management Discussion
  • Net revenues, which include excise taxes billed to customers, increased $1,043 million (4.2%), due to higher net revenues in the smokeable products and oral tobacco products segments, partially offset by lower net revenues in the all other category (primarily driven by reductions in the estimated residual value of certain assets at PMCC in 2020) and the wine segment.
  • Cost of sales increased $733 million (10.3%), due primarily to the inventory-related charges in the wine segment in 2020 (as discussed above), higher per unit settlement charges and COVID-19 special items in 2020.
  • Marketing, administration and research costs decreased $72 million (3.2%), due primarily to lower spending in the smokeable products segment, partially offset by higher amortization expense and higher spending in the all other category.
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