Altria Group, Inc. (NYSE:MO) Shares Sold by 1ST Source Bank

1ST Source Bank reduced its position in Altria Group, Inc. (NYSE:MO) by 4.7% in the 1st quarter, Holdings Channel reports. The firm owned 5,828 shares of the company’s stock after selling 287 shares during the quarter. 1ST Source Bank’s holdings in Altria Group were worth $350,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Altria Group by 64.7% during the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock worth $926,000 after purchasing an additional 6,954 shares during the period. Proficio Capital Partners LLC raised its position in shares of Altria Group by 32.3% during the 4th quarter. Proficio Capital Partners LLC now owns 5,670 shares of the company’s stock worth $296,000 after acquiring an additional 1,385 shares in the last quarter. Douglass Winthrop Advisors LLC grew its stake in Altria Group by 16.5% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 17,237 shares of the company’s stock worth $901,000 after buying an additional 2,444 shares during the last quarter. Millstone Evans Group LLC purchased a new position in Altria Group during the 4th quarter worth approximately $83,000. Finally, Virtu Financial LLC grew its stake in Altria Group by 4.6% during the 4th quarter. Virtu Financial LLC now owns 41,834 shares of the company’s stock worth $2,187,000 after buying an additional 1,848 shares during the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Performance

Shares of MO stock opened at $58.04 on Friday. The stock has a fifty day moving average price of $59.06 and a 200 day moving average price of $56.84. The stock has a market cap of $97.77 billion, a PE ratio of 9.72, a P/E/G ratio of 3.34 and a beta of 0.59. Altria Group, Inc. has a 1 year low of $47.57 and a 1 year high of $61.26.

Altria Group (NYSE:MO) last released 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. Altria Group had a negative return on equity of 295.44% and a net margin of 43.09%. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 16th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.03%. The ex-dividend date of this dividend was Monday, June 16th. Altria Group’s dividend payout ratio is currently 68.34%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Altria Group in a research note on Wednesday, July 9th. They set an “underperform” rating and a $50.00 price target on the stock. UBS Group upgraded Altria Group from a “sell” rating to a “neutral” rating and raised their price target for the stock from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Citigroup lifted their target price on Altria Group from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Wall Street Zen downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Finally, 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 note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Altria Group currently has a consensus rating of “Hold” and a consensus target price of $56.75.

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.