17,406 Altria Group, Inc. $MO Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its position in shares of Altria Group, Inc. (NYSE:MO) by 2.7% in the third quarter, Holdings Channel reports. The firm owned 627,107 shares of the company’s stock after selling 17,406 shares during the quarter. Fifth Third Bancorp’s holdings in Altria Group were worth $42,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MO. Balance Wealth Partners LLC bought a new position in shares of Altria Group in the third quarter worth approximately $25,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Altria Group during the second quarter valued at approximately $26,000. Cornerstone National Bank & Trust Co bought a new stake in shares of Altria Group during the third quarter valued at approximately $33,000. Evolution Advisers Inc. increased its position in shares of Altria Group by 110.9% during the second quarter. Evolution Advisers Inc. now owns 578 shares of the company’s stock valued at $41,000 after acquiring an additional 304 shares in the last quarter. Finally, GK Wealth Management LLC bought a new stake in shares of Altria Group during the third quarter valued at approximately $43,000. 57.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Altria Group

In related news, Director Kathryn McQuade acquired 1,500 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was purchased at an average cost of $67.62 per share, with a total value of $101,430.00. Following the completion of the acquisition, the director directly owned 114,929 shares of the company’s stock, valued at approximately $7,771,498.98. This trade represents a 1.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.10% of the stock is owned by insiders.

Altria Group Stock Performance

NYSE MO opened at $78.09 on Friday. Altria Group, Inc. has a one year low of $54.70 and a one year high of $79.87. The stock has a 50-day moving average of $72.00 and a 200 day moving average of $69.45. The company has a market capitalization of $129.90 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.63 and a beta of 0.43.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, October 29th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.01. The business had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.31 billion. Altria Group had a net margin of 34.51% and a negative return on equity of 330.66%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 EPS. On average, equities analysts predict that Altria Group, Inc. will post 5.70 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Tuesday, September 15th were issued a dividend of $1.11 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This is a positive change from Altria Group’s previous quarterly dividend of $1.06. This represents a $4.44 annualized dividend and a dividend yield of 5.7%. Altria Group’s dividend payout ratio is presently 91.74%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Altria Group from $58.00 to $60.00 and gave the stock an “underweight” rating in a report on Monday, November 2nd. Citigroup increased their target price on Altria Group from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Altria Group in a research note on Monday, October 12th. BTIG Research started coverage on Altria Group in a report on Tuesday, July 21st. They issued a “neutral” rating for the company. Finally, Freedom Broker raised Altria Group to a “hold” rating in a report on Wednesday, September 16th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $71.67.

Altria Group Profile

Altria Group, Inc. is a U.S.-based tobacco and nicotine company whose businesses focus primarily on the domestic market. Its products include cigarettes, smokeless tobacco, cigars, oral nicotine products and e-vapor products. Altria’s portfolio includes Marlboro cigarettes, made by Philip Morris USA; Copenhagen and Skoal smokeless tobacco products, made by U.S. Smokeless Tobacco Company; and products from John Middleton and Helix Innovations. The company also owns NJOY, an e-vapor brand. The company was established as Philip Morris Companies Inc. and adopted the Altria name in 2003.