OLD National Bancorp IN Trims Stake in Altria Group, Inc. (NYSE:MO)

OLD National Bancorp IN reduced its position in shares of Altria Group, Inc. (NYSE:MO) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 155,782 shares of the company’s stock after selling 2,851 shares during the quarter. OLD National Bancorp IN’s holdings in Altria Group were worth $9,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Csenge Advisory Group increased its holdings in Altria Group by 29.1% during the 4th quarter. Csenge Advisory Group now owns 54,684 shares of the company’s stock worth $2,859,000 after purchasing an additional 12,320 shares during the period. Truist Financial Corp increased its holdings in shares of Altria Group by 27.6% in the 4th quarter. Truist Financial Corp now owns 2,418,074 shares of the company’s stock valued at $126,441,000 after acquiring an additional 523,146 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Altria Group by 1.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,414,856 shares of the company’s stock valued at $178,563,000 after acquiring an additional 39,341 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of Altria Group by 40.2% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 70,826 shares of the company’s stock valued at $3,703,000 after acquiring an additional 20,309 shares during the period. Finally, First Merchants Corp increased its holdings in shares of Altria Group by 56.1% in the 4th quarter. First Merchants Corp now owns 27,983 shares of the company’s stock valued at $1,463,000 after acquiring an additional 10,058 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Price Performance

Shares of MO stock opened at $59.25 on Friday. Altria Group, Inc. has a 1-year low of $43.83 and a 1-year high of $61.26. The stock’s fifty day moving average price is $58.45 and its 200 day moving average price is $56.02. The company has a market cap of $99.80 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 EPS. As a group, equities research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.02 per share. The ex-dividend date is Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 6.89%. Altria Group’s payout ratio is presently 68.34%.

Wall Street Analyst Weigh In

MO has been the topic of a number of analyst reports. Needham & Company LLC upgraded Altria Group to a “hold” rating in a report on Thursday, May 22nd. Wall Street Zen downgraded Altria Group from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. Stifel Nicolaus lifted their price target on Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Barclays lifted their price target on Altria Group from $46.00 to $49.00 and gave the company an “underweight” rating in a report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 target price on Altria Group in a research note on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Altria Group has a consensus rating of “Hold” and a consensus price target of $56.00.

About Altria Group

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.