Intrust Bank NA cut its stake in Altria Group Inc (NYSE:MO) by 11.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,098 shares of the company’s stock after selling 2,775 shares during the period. Intrust Bank NA’s holdings in Altria Group were worth $1,338,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of MO. Solaris Asset Management LLC increased its holdings in Altria Group by 65.7% during the 2nd quarter. Solaris Asset Management LLC now owns 1,405 shares of the company’s stock valued at $105,000 after purchasing an additional 557 shares in the last quarter. CKW Financial Group acquired a new stake in Altria Group during the 2nd quarter valued at $109,000. Balentine LLC increased its holdings in Altria Group by 32.4% during the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after purchasing an additional 357 shares in the last quarter. Northwest Investment Counselors LLC increased its holdings in Altria Group by 557.0% during the 3rd quarter. Northwest Investment Counselors LLC now owns 1,820 shares of the company’s stock valued at $115,000 after purchasing an additional 1,543 shares in the last quarter. Finally, INR Advisory Services LLC acquired a new stake in Altria Group during the 2nd quarter valued at $134,000. 62.64% of the stock is owned by institutional investors and hedge funds.
Altria Group Inc (MO) opened at $68.92 on Wednesday. Altria Group Inc has a 12-month low of $60.01 and a 12-month high of $77.79. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.77 and a quick ratio of 0.48. The stock has a market capitalization of $131,510.00, a price-to-earnings ratio of 8.62, a PEG ratio of 2.55 and a beta of 0.62.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st were given a $0.66 dividend. The ex-dividend date was Wednesday, December 20th. This represents a $2.64 annualized dividend and a dividend yield of 3.83%. Altria Group’s dividend payout ratio is currently 33.00%.
A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $62.00 price target on shares of Altria Group in a report on Tuesday, October 3rd. Vetr raised Altria Group from a “sell” rating to a “hold” rating and set a $69.29 target price for the company in a research note on Thursday, December 28th. Zacks Investment Research raised Altria Group from a “sell” rating to a “hold” rating in a research note on Monday, January 8th. Wells Fargo & Co lifted their target price on Altria Group from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Finally, Berenberg Bank reissued a “hold” rating on shares of Altria Group in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Altria Group currently has an average rating of “Hold” and an average price target of $72.87.
Altria Group Profile
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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