Altria Group Inc (MO) Stake Decreased by Mechanics Bank Trust Department

Mechanics Bank Trust Department reduced its position in shares of Altria Group Inc (NYSE:MO) by 0.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 132,774 shares of the company’s stock after selling 472 shares during the period. Altria Group comprises about 1.7% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 15th largest holding. Mechanics Bank Trust Department’s holdings in Altria Group were worth $7,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Litman Gregory Asset Management LLC purchased a new position in Altria Group during the 4th quarter worth $30,000. Country Trust Bank increased its holdings in Altria Group by 86.9% during the 1st quarter. Country Trust Bank now owns 514 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares during the period. Clean Yield Group purchased a new position in Altria Group during the 4th quarter worth $32,000. Transamerica Financial Advisors Inc. increased its holdings in Altria Group by 627.6% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 713 shares of the company’s stock worth $36,000 after purchasing an additional 615 shares during the period. Finally, Clarfeld Financial Advisors LLC purchased a new position in Altria Group during the 4th quarter worth $44,000. Institutional investors own 64.18% of the company’s stock.

Shares of NYSE MO opened at $52.13 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.39 and a debt-to-equity ratio of 1.92. The firm has a market cap of $97.09 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 1.62 and a beta of 0.35. Altria Group Inc has a 12-month low of $42.40 and a 12-month high of $66.04.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, April 25th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.60 billion. Altria Group had a net margin of 24.87% and a return on equity of 49.42%. The firm’s revenue was down 6.0% compared to the same quarter last year. During the same period last year, the business posted $0.95 EPS. As a group, equities research analysts expect that Altria Group Inc will post 4.18 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, March 25th were given a $0.80 dividend. The ex-dividend date was Friday, March 22nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 6.14%. Altria Group’s payout ratio is 80.20%.

Several research firms have commented on MO. TheStreet upgraded Altria Group from a “c+” rating to a “b-” rating in a report on Friday, March 29th. ValuEngine upgraded Altria Group from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Morgan Stanley raised their price objective on Altria Group from $45.00 to $49.00 and gave the stock an “underweight” rating in a report on Monday, April 15th. Citigroup set a $52.00 price objective on Altria Group and gave the stock a “sell” rating in a report on Thursday, March 28th. Finally, Zacks Investment Research raised Altria Group from a “sell” rating to a “hold” rating in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Altria Group has an average rating of “Hold” and an average price target of $62.53.

In other news, VP Ivan S. Feldman sold 6,802 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $51.18, for a total value of $348,126.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jody L. Begley sold 3,250 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $53.38, for a total value of $173,485.00. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

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Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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

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