Fifth Third Bancorp Reduces Stock Position in Altria Group, Inc. (NYSE:MO)

Fifth Third Bancorp cut its position in Altria Group, Inc. (NYSE:MOFree Report) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,393 shares of the company’s stock after selling 1,397 shares during the quarter. Fifth Third Bancorp’s holdings in Altria Group were worth $4,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its stake in Altria Group by 1.8% in the 2nd quarter. State Street Corp now owns 70,564,529 shares of the company’s stock worth $3,262,710,000 after purchasing an additional 1,240,150 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Altria Group by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 44,456,064 shares of the company’s stock worth $1,857,271,000 after buying an additional 840,559 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Altria Group by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 35,856,051 shares of the company’s stock worth $1,596,257,000 after buying an additional 671,929 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Altria Group by 5.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 24,517,169 shares of the company’s stock worth $990,002,000 after buying an additional 1,192,266 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC increased its holdings in shares of Altria Group by 108,222.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 18,590,308 shares of the company’s stock worth $849,763,000 after buying an additional 18,573,146 shares during the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MO has been the topic of a number of research analyst reports. UBS Group reissued a “sell” rating and issued a $36.10 price target on shares of Altria Group in a report on Tuesday, January 23rd. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.82.

Check Out Our Latest Analysis on Altria Group

Altria Group Stock Down 0.7 %

Shares of NYSE:MO opened at $42.93 on Wednesday. The stock has a market cap of $75.71 billion, a PE ratio of 9.42, a PEG ratio of 2.63 and a beta of 0.65. The company’s fifty day moving average is $41.59 and its 200 day moving average is $41.50. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $48.04.

Altria Group (NYSE:MOGet Free Report) last issued its earnings results on Thursday, February 1st. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.18 EPS. Sell-side analysts anticipate that Altria Group, Inc. will post 5.08 EPS for the current year.

Altria Group declared that its board has initiated a share repurchase plan on Thursday, February 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 9.13%. The ex-dividend date is Friday, March 22nd. Altria Group’s payout ratio is presently 85.78%.

About Altria Group

(Free Report)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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