Bank of Jackson Hole Trust Has $354,000 Position in Altria Group, Inc. $MO

Bank of Jackson Hole Trust increased its stake in shares of Altria Group, Inc. (NYSE:MO) by 10.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,036 shares of the company’s stock after buying an additional 559 shares during the quarter. Bank of Jackson Hole Trust’s holdings in Altria Group were worth $354,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MO. Brighton Jones LLC grew its position in Altria Group by 64.7% during the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock worth $926,000 after buying an additional 6,954 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Altria Group by 14.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 602,120 shares of the company’s stock worth $35,399,000 after buying an additional 77,467 shares in the last quarter. Koshinski Asset Management Inc. boosted its holdings in shares of Altria Group by 3.3% in the 1st quarter. Koshinski Asset Management Inc. now owns 35,680 shares of the company’s stock valued at $2,142,000 after purchasing an additional 1,134 shares in the last quarter. Smith Salley Wealth Management boosted its holdings in shares of Altria Group by 24.0% in the 1st quarter. Smith Salley Wealth Management now owns 7,238 shares of the company’s stock valued at $434,000 after purchasing an additional 1,399 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp boosted its holdings in shares of Altria Group by 3.3% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 257,154 shares of the company’s stock valued at $15,434,000 after purchasing an additional 8,290 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MO. The Goldman Sachs Group raised their target price on Altria Group from $65.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Stifel Nicolaus set a $72.00 target price on Altria Group in a report on Thursday, August 21st. UBS Group raised Altria Group from a “sell” rating to a “neutral” rating and raised their target price for the company from $47.00 to $59.00 in a report on Wednesday, July 2nd. Barclays raised their target price on Altria Group from $49.00 to $57.00 and gave the company an “underweight” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $62.11.

Altria Group Stock Down 0.7%

Shares of NYSE:MO opened at $63.28 on Wednesday. The firm has a market cap of $106.30 billion, a P/E ratio of 12.24, a P/E/G ratio of 3.55 and a beta of 0.55. Altria Group, Inc. has a 12-month low of $49.88 and a 12-month high of $68.60. The business has a fifty day simple moving average of $65.65 and a 200 day simple moving average of $61.86.

Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.Altria Group’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS. As a group, equities research analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 15th were given a dividend of $1.06 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.24 annualized dividend and a yield of 6.7%. This is an increase from Altria Group’s previous quarterly dividend of $1.02. Altria Group’s dividend payout ratio is 82.01%.

Altria Group Company 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.