Pinnacle Bank lifted its position in Altria Group Inc (NYSE:MO) by 30.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,735 shares of the company’s stock after purchasing an additional 2,021 shares during the quarter. Pinnacle Bank’s holdings in Altria Group were worth $343,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Legacy Wealth Planning LLC increased its holdings in shares of Altria Group by 8.1% during the 1st quarter. Legacy Wealth Planning LLC now owns 6,542 shares of the company’s stock worth $25,000 after buying an additional 488 shares during the last quarter. New South Capital Management Inc. purchased a new position in shares of Altria Group during the 4th quarter worth $30,000. Pflug Koory LLC increased its position in shares of Altria Group by 70.0% during the 1st quarter. Pflug Koory LLC now owns 765 shares of the company’s stock worth $30,000 after purchasing an additional 315 shares during the last quarter. Sanders Morris Harris LLC lifted its position in Altria Group by 5.1% in the first quarter. Sanders Morris Harris LLC now owns 82,156 shares of the company’s stock valued at $31,000 after buying an additional 4,006 shares during the last quarter. Finally, Country Trust Bank boosted its stake in Altria Group by 58.4% during the first quarter. Country Trust Bank now owns 814 shares of the company’s stock worth $31,000 after buying an additional 300 shares during the period. 63.68% of the stock is currently owned by institutional investors.
MO has been the topic of a number of research reports. Cfra upped their price target on Altria Group from $42.00 to $44.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Royal Bank of Canada restated a “buy” rating and set a $68.00 target price on shares of Altria Group in a report on Monday, March 23rd. Citigroup reiterated a “buy” rating and set a $45.00 price target on shares of Altria Group in a research note on Tuesday, June 30th. Stifel Nicolaus reissued a “buy” rating and issued a $52.00 price objective on shares of Altria Group in a research note on Monday, June 8th. Finally, Goldman Sachs Group started coverage on shares of Altria Group in a research note on Wednesday, April 1st. They set a “neutral” rating and a $35.00 target price on the stock. One equities research 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. Altria Group currently has a consensus rating of “Buy” and an average price target of $50.79.
Shares of MO traded up $0.27 during midday trading on Tuesday, reaching $39.87. 3,678,568 shares of the stock were exchanged, compared to its average volume of 8,700,345. Altria Group Inc has a twelve month low of $30.95 and a twelve month high of $52.45. 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 company has a market capitalization of $73.09 billion, a price-to-earnings ratio of -80.27, a PEG ratio of 1.86 and a beta of 0.43. The business’s 50-day moving average price is $39.50 and its 200 day moving average price is $42.45.
Altria Group (NYSE:MO) last released 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 company 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 company posted $0.90 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts expect that Altria Group Inc will post 4.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.36 annualized dividend and a yield of 8.43%. Altria Group’s dividend payout ratio (DPR) 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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