Norway Savings Bank lessened its holdings in Altria Group, Inc. (NYSE:MO – Get Rating) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,150 shares of the company’s stock after selling 334 shares during the period. Norway Savings Bank’s holdings in Altria Group were worth $98,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in MO. Loomis Sayles & Co. L P bought a new position in Altria Group during the 1st quarter worth $25,000. 1832 Asset Management L.P. bought a new position in Altria Group during the 1st quarter worth $41,000. McClarren Financial Advisors Inc. bought a new position in Altria Group during the 3rd quarter worth $48,000. Atlas Capital Advisors LLC increased its position in Altria Group by 199.7% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,190 shares of the company’s stock worth $50,000 after buying an additional 793 shares during the period. Finally, Almanack Investment Partners LLC. bought a new position in Altria Group during the 3rd quarter worth $58,000. Institutional investors own 58.68% of the company’s stock.
Wall Street Analysts Forecast Growth
MO has been the topic of several recent research reports. Citigroup increased their price objective on Altria Group from $46.50 to $49.50 and gave the stock a “neutral” rating in a research report on Tuesday, February 7th. StockNews.com initiated coverage on Altria Group in a research report on Thursday. They set a “buy” rating on the stock. Finally, Morgan Stanley increased their price objective on Altria Group from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, January 23rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Altria Group presently has a consensus rating of “Hold” and a consensus price target of $47.13.
Altria Group Stock Down 1.8 %
Altria Group (NYSE:MO – Get Rating) last released its quarterly earnings data on Wednesday, February 1st. The company reported $1.18 earnings per share for the quarter, meeting the consensus estimate of $1.18. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.15 billion. Altria Group had a negative return on equity of 284.29% and a net margin of 22.97%. Altria Group’s revenue was down 18.7% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. On average, analysts anticipate that Altria Group, Inc. will post 5.07 EPS for the current fiscal year.
Altria Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 24th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date of this dividend is Thursday, March 23rd. Altria Group’s payout ratio is 117.87%.
Altria Group Company Profile
Altria Group, Inc operates as a holding company, which engages in the manufacture and sale of cigarettes in the United States. It operates through the following segments: Smokeable Products, Oral tobacco products, and Wine. The Smokeable Products segment consists of cigarettes manufactured and sold by PM USA and machine-made large cigars and pipe tobacco manufactured and sold by Middleton.
- Get a free copy of the StockNews.com research report on Altria Group (MO)
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