Argent Trust Co decreased its position in shares of Altria Group Inc (NYSE:MO) by 10.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,932 shares of the company’s stock after selling 3,363 shares during the quarter. Argent Trust Co’s holdings in Altria Group were worth $1,158,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Shell Asset Management Co. grew its stake in shares of Altria Group by 14.6% during the 1st quarter. Shell Asset Management Co. now owns 225,574 shares of the company’s stock worth $8,723,000 after purchasing an additional 28,823 shares during the period. National Asset Management Inc. grew its stake in Altria Group by 67.4% in the 1st quarter. National Asset Management Inc. now owns 101,453 shares of the company’s stock valued at $3,924,000 after acquiring an additional 40,836 shares during the period. Royal Fund Management LLC acquired a new stake in Altria Group in the 1st quarter valued at $134,000. Northwestern Mutual Wealth Management Co. grew its stake in Altria Group by 9.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 381,018 shares of the company’s stock valued at $14,735,000 after acquiring an additional 31,558 shares during the period. Finally, AGF Investments Inc. acquired a new stake in Altria Group in the 1st quarter valued at $890,000. 63.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE MO traded up $0.19 during trading on Friday, hitting $37.73. 6,861,912 shares of the company were exchanged, compared to its average volume of 10,536,376. Altria Group Inc has a 12-month low of $30.95 and a 12-month high of $53.11. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.53 and a current ratio of 0.71. The company has a fifty day moving average price of $38.45 and a 200-day moving average price of $44.43. The firm has a market capitalization of $69.76 billion, a PE ratio of -77.00, a P/E/G ratio of 1.76 and a beta of 0.45.
Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.98 by $0.11. Altria Group had a positive return on equity of 84.55% and a negative net margin of 3.33%. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same quarter in the previous year, the firm earned $0.90 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. Research analysts anticipate that Altria Group Inc will post 4.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.36 annualized dividend and a dividend yield of 8.91%. Altria Group’s dividend payout ratio is presently 79.62%.
A number of research firms recently issued reports on MO. Morgan Stanley raised shares of Altria Group from an “equal weight” rating to an “overweight” rating and set a $49.00 price target on the stock in a research note on Monday, March 16th. Cfra lifted their price target on shares of Altria Group from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Panmure Gordon raised shares of Altria Group from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Friday, April 3rd. ValuEngine cut shares of Altria Group from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Finally, Jefferies Financial Group reaffirmed a “neutral” rating and set a $34.00 target price on shares of Altria Group in a research note on Thursday, April 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $50.79.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
Featured Article: Marijuana Stocks
Receive News & Ratings for Altria Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altria Group and related companies with MarketBeat.com's FREE daily email newsletter.