Oakworth Capital Inc. Has $532,000 Holdings in Altria Group, Inc. (NYSE:MO)

Oakworth Capital Inc. grew its stake in Altria Group, Inc. (NYSE:MO) by 14.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,429 shares of the company’s stock after buying an additional 1,329 shares during the quarter. Oakworth Capital Inc.’s holdings in Altria Group were worth $532,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MO. BNP Paribas acquired a new position in shares of Altria Group in the first quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new position in Altria Group during the second quarter worth $27,000. Hobbs Group Advisors LLC acquired a new position in Altria Group during the second quarter worth $30,000. Valley Wealth Managers Inc. boosted its holdings in Altria Group by 63.9% during the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after purchasing an additional 260 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in Altria Group during the first quarter worth $36,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analysts Set New Price Targets

MO has been the subject of several recent research reports. Stifel Nicolaus increased their target price on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays increased their target price on shares of Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, September 9th. Bank of America reduced their target price on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. UBS Group upped their price target on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Finally, StockNews.com lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Altria Group presently has a consensus rating of “Hold” and an average price target of $48.20.

Altria Group Stock Up 0.3 %

MO stock opened at $49.22 on Tuesday. Altria Group, Inc. has a 12 month low of $39.06 and a 12 month high of $54.95. The firm has a market cap of $84.54 billion, a P/E ratio of 10.27, a P/E/G ratio of 2.90 and a beta of 0.65. The company’s 50-day moving average price is $51.51 and its two-hundred day moving average price is $47.88.

Altria Group (NYSE:MO) last released its earnings results on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). The firm had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. Altria Group’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.31 earnings per share. Equities analysts predict that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 8.29%. Altria Group’s payout ratio is 85.36%.

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.