Park National Corp OH Decreases Stock Position in Altria Group, Inc. (NYSE:MO)

Park National Corp OH trimmed its holdings in Altria Group, Inc. (NYSE:MO) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,260 shares of the company’s stock after selling 780 shares during the period. Park National Corp OH’s holdings in Altria Group were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Financial Life Planners purchased a new stake in Altria Group during the 4th quarter worth about $25,000. Redwood Park Advisors LLC acquired a new stake in shares of Altria Group during the 4th quarter worth about $26,000. VSM Wealth Advisory LLC purchased a new stake in shares of Altria Group during the fourth quarter worth about $29,000. Marshall Investment Management LLC purchased a new stake in shares of Altria Group during the fourth quarter worth about $32,000. Finally, Promus Capital LLC acquired a new position in shares of Altria Group in the fourth quarter valued at approximately $33,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MO. Needham & Company LLC upgraded shares of Altria Group to a “hold” rating in a research report on Thursday, May 22nd. Morgan Stanley reduced their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Altria Group in a research report on Tuesday, April 1st. UBS Group increased their target price on Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, April 30th. Finally, Citigroup lifted their price target on Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.00.

Altria Group Trading Down 0.1%

MO stock opened at $59.43 on Friday. The company has a market cap of $100.10 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60. The stock has a 50-day moving average price of $58.27 and a two-hundred day moving average price of $55.84. Altria Group, Inc. has a 12-month low of $43.83 and a 12-month high of $61.26.

Altria Group (NYSE:MO) last issued its earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 EPS. Equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 6.87%. Altria Group’s dividend payout ratio is currently 68.34%.

Altria Group 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.