Trust Co. of Oklahoma Takes Position in Altria Group, Inc. (NYSE:MO)

Trust Co. of Oklahoma acquired a new stake in Altria Group, Inc. (NYSE:MO) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,495 shares of the company’s stock, valued at approximately $210,000.

Several other hedge funds have also bought and sold shares of MO. Csenge Advisory Group grew its holdings in shares of Altria Group by 29.1% during the fourth quarter. Csenge Advisory Group now owns 54,684 shares of the company’s stock valued at $2,859,000 after buying an additional 12,320 shares during the last quarter. Truist Financial Corp boosted its stake in Altria Group by 27.6% during the 4th quarter. Truist Financial Corp now owns 2,418,074 shares of the company’s stock valued at $126,441,000 after purchasing an additional 523,146 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Altria Group by 40.2% during 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 purchasing an additional 20,309 shares during the last quarter. First Merchants Corp boosted its stake in Altria Group by 56.1% during the 4th quarter. First Merchants Corp now owns 27,983 shares of the company’s stock valued at $1,463,000 after purchasing an additional 10,058 shares during the last quarter. Finally, WealthCare Investment Partners LLC boosted its position in shares of Altria Group by 2.0% during the fourth quarter. WealthCare Investment Partners LLC now owns 19,913 shares of the company’s stock valued at $1,046,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of NYSE:MO opened at $59.05 on Tuesday. The company’s 50-day moving average is $58.49 and its 200 day moving average is $56.03. The company has a market capitalization of $99.46 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60. Altria Group, Inc. has a fifty-two week low of $43.83 and a fifty-two week high of $61.26.

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

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be paid 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 6.91%. Altria Group’s payout ratio is 68.34%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MO. Stifel Nicolaus lifted their target price on Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. UBS Group lifted their price objective on shares of Altria Group from $46.00 to $47.00 and gave the stock a “sell” rating in a report on Wednesday, April 30th. Needham & Company LLC raised shares of Altria Group to a “hold” rating in a report on Thursday, May 22nd. Citigroup boosted their price target on shares of Altria Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. Finally, Wall Street Zen cut shares of Altria Group from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.