Capital City Trust Co. FL raised its position in Altria Group, Inc. (NYSE:MO – Get Rating) by 2.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 12,040 shares of the company’s stock after acquiring an additional 250 shares during the quarter. Capital City Trust Co. FL’s holdings in Altria Group were worth $502,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Rosenberg Matthew Hamilton lifted its stake in shares of Altria Group by 96.0% during the second quarter. Rosenberg Matthew Hamilton now owns 2,089 shares of the company’s stock worth $88,000 after buying an additional 1,023 shares during the period. PDS Planning Inc lifted its stake in shares of Altria Group by 5.0% during the second quarter. PDS Planning Inc now owns 7,854 shares of the company’s stock worth $328,000 after buying an additional 374 shares during the period. IFM Investors Pty Ltd lifted its position in Altria Group by 5.2% during the second quarter. IFM Investors Pty Ltd now owns 223,202 shares of the company’s stock valued at $9,323,000 after purchasing an additional 11,107 shares during the period. Marcum Wealth LLC lifted its position in Altria Group by 2.5% during the second quarter. Marcum Wealth LLC now owns 73,208 shares of the company’s stock valued at $3,058,000 after purchasing an additional 1,751 shares during the period. Finally, Krilogy Financial LLC lifted its position in Altria Group by 3.5% during the second quarter. Krilogy Financial LLC now owns 7,873 shares of the company’s stock valued at $329,000 after purchasing an additional 263 shares during the period. 59.75% of the stock is currently owned by institutional investors and hedge funds.
Altria Group Price Performance
NYSE:MO opened at $42.92 on Friday. The firm has a market capitalization of $77.29 billion, a price-to-earnings ratio of 44.61, a PEG ratio of 1.36 and a beta of 0.59. The company’s 50-day moving average is $44.27 and its two-hundred day moving average is $48.49. Altria Group, Inc. has a 1-year low of $41.00 and a 1-year high of $57.05.
Altria Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th will be issued a $0.94 dividend. This is a positive change from Altria Group’s previous quarterly dividend of $0.90. This represents a $3.76 annualized dividend and a dividend yield of 8.76%. The ex-dividend date of this dividend is Wednesday, September 14th. Altria Group’s dividend payout ratio is currently 387.63%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Cowen decreased their target price on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a research report on Monday, June 27th. Barclays downgraded shares of Altria Group from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $53.00 to $36.00 in a research report on Wednesday, June 29th. Cowen decreased their target price on shares of Altria Group from $56.00 to $45.00 and set a “market perform” rating for the company in a research report on Monday, June 27th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Altria Group from $60.00 to $46.00 and set a “buy” rating for the company in a report on Friday, July 1st. Finally, StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $47.00.
Altria Group Company Profile
Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.
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