OLD National Bancorp IN lifted its stake in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 170,605 shares of the company’s stock after purchasing an additional 4,516 shares during the quarter. OLD National Bancorp IN’s holdings in Altria Group were worth $7,771,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Maryland Capital Advisors Inc. grew its position in Altria Group by 154.4% in the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 349 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in shares of Altria Group during the first quarter valued at about $26,000. BNP Paribas acquired a new stake in Altria Group in the first quarter worth about $27,000. Westend Capital Management LLC acquired a new stake in Altria Group in the first quarter worth about $29,000. Finally, Criterion Capital Advisors LLC bought a new position in Altria Group in the 4th quarter valued at about $27,000. Institutional investors own 57.41% of the company’s stock.
Altria Group Stock Down 0.0 %
NYSE:MO traded down $0.02 during trading hours on Friday, reaching $50.43. 5,449,755 shares of the company’s stock were exchanged, compared to its average volume of 10,693,454. The company has a market capitalization of $86.62 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $51.40. The business’s 50-day simple moving average is $47.51 and its two-hundred day simple moving average is $44.30.
Altria Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 14th were paid a $0.98 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.92 dividend on an annualized basis and a yield of 7.77%. Altria Group’s dividend payout ratio is currently 82.01%.
Wall Street Analyst Weigh In
MO has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Bank of America upped their target price on Altria Group from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Finally, Argus raised Altria Group to a “hold” rating in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.90.
Read Our Latest Analysis on Altria Group
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.
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