Altria Group, Inc. (NYSE:MO) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its holdings in Altria Group, Inc. (NYSE:MO) by 0.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 597,280 shares of the company’s stock after selling 5,458 shares during the quarter. M&T Bank Corp’s holdings in Altria Group were worth $31,231,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Financial Life Planners purchased a new position in Altria Group in the 4th quarter valued at approximately $25,000. True Wealth Design LLC increased its stake in Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after purchasing an additional 462 shares in the last quarter. Marshall Investment Management LLC purchased a new position in Altria Group in the 4th quarter valued at approximately $32,000. Legacy Investment Solutions LLC purchased a new position in Altria Group in the 3rd quarter valued at approximately $34,000. Finally, Kestra Investment Management LLC purchased a new position in Altria Group in the 4th quarter valued at approximately $40,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MO shares. Barclays raised their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Finally, Morgan Stanley dropped their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $53.29.

Altria Group Stock Performance

Altria Group stock opened at $55.95 on Thursday. The stock has a fifty day moving average of $52.95 and a two-hundred day moving average of $53.01. The company has a market capitalization of $94.60 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 2.89 and a beta of 0.64. Altria Group, Inc. has a fifty-two week low of $40.65 and a fifty-two week high of $58.59.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. On average, analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.29%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio is currently 62.29%.

Altria Group Company Profile

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.