Mechanics Bank Trust Department Raises Stock Position in Altria Group, Inc. (NYSE:MO)

Mechanics Bank Trust Department increased its position in Altria Group, Inc. (NYSE:MOFree Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,136 shares of the company’s stock after purchasing an additional 1,352 shares during the quarter. Mechanics Bank Trust Department’s holdings in Altria Group were worth $2,754,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MO. Maryland Capital Advisors Inc. increased its stake in shares of Altria Group by 154.4% during the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after buying an additional 349 shares during the period. Criterion Capital Advisors LLC bought a new stake in shares of Altria Group in the 4th quarter valued at about $27,000. ZRC Wealth Management LLC lifted its position in shares of Altria Group by 67.6% in the 4th quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares during the period. Pineridge Advisors LLC bought a new position in shares of Altria Group during the fourth quarter valued at approximately $28,000. Finally, Westend Capital Management LLC purchased a new position in Altria Group during the first quarter valued at approximately $29,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 target price on shares of Altria Group in a research report on Monday, March 25th. StockNews.com downgraded Altria Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. UBS Group boosted their target price on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a report on Monday, April 8th. Finally, Argus upgraded shares of Altria Group to a “hold” rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $46.90.

Get Our Latest Stock Analysis on Altria Group

Insider Transactions at Altria Group

In other news, VP Charles N. Whitaker sold 22,487 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total value of $988,303.65. Following the sale, the vice president now directly owns 173,485 shares of the company’s stock, valued at approximately $7,624,665.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Altria Group Stock Performance

NYSE:MO traded down $0.03 during mid-day trading on Tuesday, hitting $46.42. 3,838,010 shares of the company’s stock traded hands, compared to its average volume of 11,246,377. The company has a market capitalization of $79.73 billion, a P/E ratio of 9.73, a P/E/G ratio of 2.82 and a beta of 0.64. The company has a fifty day moving average of $44.82 and a 200 day moving average of $42.63. Altria Group, Inc. has a twelve month low of $39.06 and a twelve month high of $47.19.

Altria Group (NYSE:MOGet Free Report) last released its earnings results on Thursday, April 25th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. Altria Group’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the business earned $1.18 EPS. On average, research analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.44%. The ex-dividend date of this dividend is Friday, June 14th. Altria Group’s dividend payout ratio is presently 82.01%.

Altria Group Profile

(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.

See Also

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

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