Charter Trust Co. trimmed its position in Altria Group Inc (NYSE:MO) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,620 shares of the company’s stock after selling 351 shares during the quarter. Charter Trust Co.’s holdings in Altria Group were worth $256,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of MO. Grimes & Company Inc. raised its stake in shares of Altria Group by 10.1% in the fourth quarter. Grimes & Company Inc. now owns 8,539 shares of the company’s stock valued at $426,000 after purchasing an additional 781 shares in the last quarter. Retirement Network acquired a new position in shares of Altria Group in the fourth quarter valued at $1,225,000. 9258 Wealth Management LLC acquired a new position in shares of Altria Group in the fourth quarter valued at $420,000. Fiera Capital Corp acquired a new position in shares of Altria Group in the fourth quarter valued at $237,000. Finally, Mutual of Omaha Bank Wealth Management raised its stake in shares of Altria Group by 31.7% in the fourth quarter. Mutual of Omaha Bank Wealth Management now owns 23,560 shares of the company’s stock valued at $1,175,000 after purchasing an additional 5,670 shares in the last quarter. Institutional investors and hedge funds own 63.68% of the company’s stock.
Several research analysts have issued reports on the company. Royal Bank of Canada reiterated a “buy” rating and set a $68.00 price objective on shares of Altria Group in a research note on Monday, March 23rd. Panmure Gordon upgraded Altria Group from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Friday, April 3rd. Cfra increased their price objective on Altria Group from $42.00 to $44.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Stifel Nicolaus reiterated a “buy” rating and set a $52.00 price objective on shares of Altria Group in a research note on Monday. Finally, ValuEngine lowered Altria Group from a “hold” rating to a “sell” rating 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 assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $50.79.
Shares of MO stock traded down $1.79 during trading hours on Thursday, hitting $40.03. 440,341 shares of the company’s stock were exchanged, compared to its average volume of 11,601,237. The stock’s 50-day moving average is $38.51 and its 200-day moving average is $43.77. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.71 and a quick ratio of 0.53. The stock has a market cap of $78.84 billion, a price-to-earnings ratio of -85.35, a price-to-earnings-growth ratio of 1.98 and a beta of 0.44. Altria Group Inc has a 52 week low of $30.95 and a 52 week high of $52.46.
Altria Group (NYSE:MO) last announced its 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. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.51 billion. Altria Group had a positive return on equity of 84.55% and a negative net margin of 3.33%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. Equities research analysts forecast that Altria Group Inc will post 4.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 8.39%. The ex-dividend date of this dividend is Friday, June 12th. Altria Group’s dividend payout ratio is 79.62%.
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.
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