First Bank & Trust Sells 1,152 Shares of Altria Group Inc (NYSE:MO)

First Bank & Trust trimmed its position in shares of Altria Group Inc (NYSE:MO) by 3.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 28,540 shares of the company’s stock after selling 1,152 shares during the quarter. Altria Group accounts for approximately 1.1% of First Bank & Trust’s investment portfolio, making the stock its 26th largest holding. First Bank & Trust’s holdings in Altria Group were worth $1,351,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Northpointe Capital LLC bought a new stake in Altria Group during the second quarter worth about $3,680,000. Virginia Retirement Systems ET AL lifted its position in shares of Altria Group by 3.2% during the second quarter. Virginia Retirement Systems ET AL now owns 1,075,100 shares of the company’s stock worth $50,906,000 after purchasing an additional 33,800 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of Altria Group by 16.0% during the second quarter. Park Avenue Securities LLC now owns 32,166 shares of the company’s stock worth $1,523,000 after purchasing an additional 4,430 shares in the last quarter. Oak Asset Management LLC lifted its position in shares of Altria Group by 10.3% during the second quarter. Oak Asset Management LLC now owns 25,219 shares of the company’s stock worth $1,253,000 after purchasing an additional 2,351 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Altria Group by 5.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 94,149 shares of the company’s stock worth $4,457,000 after purchasing an additional 4,495 shares in the last quarter. 64.23% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP W Hildebrandt Surgner, Jr. sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $52.48, for a total value of $104,960.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.11% of the company’s stock.

A number of equities analysts have recently issued reports on MO shares. ValuEngine lowered shares of Altria Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 29th. Citigroup set a $45.00 target price on shares of Altria Group and gave the stock a “sell” rating in a research report on Friday, April 26th. Goldman Sachs Group lowered shares of Altria Group from a “buy” rating to a “neutral” rating and set a $49.86 target price on the stock. in a research report on Friday, July 12th. Royal Bank of Canada set a $68.00 target price on shares of Altria Group and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley reduced their target price on shares of Altria Group from $49.00 to $48.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $61.07.

Shares of MO stock opened at $46.16 on Wednesday. Altria Group Inc has a 1 year low of $42.40 and a 1 year high of $66.04. The business’s 50 day moving average is $48.91. The firm has a market capitalization of $89.54 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.50 and a beta of 0.38. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.56 and a quick ratio of 0.28.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.10. Altria Group had a net margin of 25.04% and a return on equity of 51.53%. The business had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period in the prior year, the business posted $1.01 earnings per share. Altria Group’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that Altria Group Inc will post 4.17 earnings per share for the current year.

Altria Group declared that its Board of Directors has authorized a stock buyback plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 1.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 14th were issued a $0.80 dividend. The ex-dividend date was Thursday, June 13th. This represents a $3.20 annualized dividend and a yield of 6.93%. Altria Group’s dividend payout ratio is currently 80.20%.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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