Grove Bank & Trust Has $834,000 Stake in Altria Group, Inc. (NYSE:MO)

Grove Bank & Trust decreased its holdings in shares of Altria Group, Inc. (NYSE:MOFree Report) by 12.8% in the 3rd quarter, Holdings Channel reports. The fund owned 16,341 shares of the company’s stock after selling 2,399 shares during the period. Grove Bank & Trust’s holdings in Altria Group were worth $834,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MO. Albion Financial Group UT boosted its holdings in shares of Altria Group by 49.1% during the 1st quarter. Albion Financial Group UT now owns 2,767 shares of the company’s stock worth $121,000 after buying an additional 911 shares in the last quarter. CWM LLC lifted its holdings in shares of Altria Group by 15.3% in the 3rd quarter. CWM LLC now owns 305,704 shares of the company’s stock worth $15,603,000 after purchasing an additional 40,574 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Altria Group by 1.6% in the 1st quarter. Nordea Investment Management AB now owns 1,027,886 shares of the company’s stock worth $44,960,000 after purchasing an additional 16,541 shares in the last quarter. Regal Investment Advisors LLC lifted its holdings in shares of Altria Group by 4.2% in the 2nd quarter. Regal Investment Advisors LLC now owns 251,933 shares of the company’s stock worth $11,476,000 after purchasing an additional 10,079 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Altria Group by 7.2% in the 1st quarter. Atomi Financial Group Inc. now owns 5,953 shares of the company’s stock worth $260,000 after purchasing an additional 399 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Down 0.4 %

Shares of MO traded down $0.18 during mid-day trading on Monday, hitting $49.66. 2,079,248 shares of the company’s stock traded hands, compared to its average volume of 10,025,434. Altria Group, Inc. has a 1 year low of $39.06 and a 1 year high of $54.95. The firm has a market capitalization of $85.30 billion, a P/E ratio of 10.39, a PEG ratio of 2.90 and a beta of 0.65. The business’s 50-day moving average price is $51.55 and its 200-day moving average price is $47.59.

Altria Group (NYSE:MOGet Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). The firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. Altria Group’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 earnings per share. Sell-side analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were given a $1.02 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date was Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 8.22%. Altria Group’s dividend payout ratio is presently 85.36%.

Analyst Ratings Changes

Several equities analysts have weighed in on MO shares. UBS Group raised their price objective on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. StockNews.com lowered Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Barclays raised their target price on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, September 9th. Citigroup raised their target price on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Finally, Bank of America raised their target price on Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $49.00.

Check Out Our Latest Stock Analysis on MO

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.

See Also

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

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