CNB Bank Acquires 1,062 Shares of Altria Group, Inc. (NYSE:MO)

CNB Bank raised its stake in Altria Group, Inc. (NYSE:MO) by 46.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,329 shares of the company’s stock after acquiring an additional 1,062 shares during the period. CNB Bank’s holdings in Altria Group were worth $174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MO. Aviance Capital Partners LLC boosted its stake in Altria Group by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock valued at $2,060,000 after buying an additional 191 shares in the last quarter. Delta Investment Management LLC lifted its stake in shares of Altria Group by 2.9% in the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock valued at $322,000 after acquiring an additional 198 shares during the last quarter. Fragasso Financial Advisors Inc boosted its holdings in shares of Altria Group by 3.3% during the 4th quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock valued at $330,000 after acquiring an additional 199 shares in the last quarter. American Institute for Advanced Investment Management LLP grew its position in Altria Group by 3.5% during the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock worth $299,000 after acquiring an additional 200 shares during the last quarter. Finally, Ridgecrest Wealth Partners LLC raised its position in Altria Group by 3.5% in the third quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 0.5 %

Shares of NYSE MO opened at $51.41 on Friday. The company has a market capitalization of $87.13 billion, a PE ratio of 8.68, a P/E/G ratio of 2.69 and a beta of 0.64. Altria Group, Inc. has a twelve month low of $39.25 and a twelve month high of $58.03. The firm has a fifty day simple moving average of $54.38 and a 200 day simple moving average of $51.91.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same period last year, the company posted $1.28 EPS. The business’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, equities analysts expect that Altria Group, Inc. will post 5.12 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.94%. The ex-dividend date was Thursday, December 26th. Altria Group’s dividend payout ratio (DPR) is 68.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Stifel Nicolaus boosted their price target on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley assumed coverage on shares of Altria Group in a report on Thursday. They set an “equal weight” rating and a $54.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Finally, Citigroup raised their target price on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Altria Group has an average rating of “Hold” and an average target price of $53.43.

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.