Altria Group, Inc. (NYSE:MO) Shares Sold by HTLF Bank

HTLF Bank trimmed its holdings in shares of Altria Group, Inc. (NYSE:MO) by 12.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,533 shares of the company’s stock after selling 647 shares during the period. HTLF Bank’s holdings in Altria Group were worth $231,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Zhang Financial LLC grew its position in Altria Group by 1.1% in the 3rd quarter. Zhang Financial LLC now owns 18,454 shares of the company’s stock valued at $942,000 after buying an additional 202 shares in the last quarter. Cornell Pochily Investment Advisors Inc. lifted its stake in shares of Altria Group by 5.5% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 4,823 shares of the company’s stock worth $246,000 after acquiring an additional 250 shares during the period. Creative Planning boosted its holdings in shares of Altria Group by 4.7% in the third quarter. Creative Planning now owns 531,504 shares of the company’s stock valued at $27,128,000 after acquiring an additional 24,039 shares in the last quarter. Wesbanco Bank Inc. boosted its holdings in shares of Altria Group by 2.2% in the third quarter. Wesbanco Bank Inc. now owns 37,891 shares of the company’s stock valued at $1,934,000 after acquiring an additional 825 shares in the last quarter. Finally, CX Institutional increased its stake in shares of Altria Group by 18.7% during the third quarter. CX Institutional now owns 102,982 shares of the company’s stock valued at $5,256,000 after acquiring an additional 16,247 shares during the period. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Up 0.1 %

Shares of Altria Group stock opened at $49.91 on Wednesday. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $54.95. The firm has a market capitalization of $85.73 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 2.90 and a beta of 0.65. The stock’s fifty day moving average is $51.57 and its 200-day moving average is $47.68.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. Altria Group’s quarterly revenue was up 14.2% on a year-over-year basis. Analysts expect that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 8.17%. The ex-dividend date was Monday, September 16th. This is an increase from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio is 85.36%.

Analysts Set New Price Targets

MO has been the subject of a number of research analyst reports. StockNews.com downgraded Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Citigroup raised their target price on Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Barclays lifted their target price on 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 cut their price target on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Stifel Nicolaus lifted their price objective 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.20.

About Altria Group

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.