OLD National Bancorp IN Has $8.30 Million Position in Altria Group, Inc. (NYSE:MO)

OLD National Bancorp IN lowered its position in Altria Group, Inc. (NYSE:MO) by 8.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 158,633 shares of the company’s stock after selling 14,006 shares during the period. OLD National Bancorp IN’s holdings in Altria Group were worth $8,295,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its holdings in Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Altria Group in the third quarter worth approximately $34,000. Peterson Financial Group Inc. acquired a new position in Altria Group in the third quarter worth approximately $41,000. Fairman Group LLC increased its holdings in Altria Group by 85.1% in the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after buying an additional 410 shares during the last quarter. Finally, Asset Dedication LLC increased its holdings in Altria Group by 27.7% in the fourth quarter. Asset Dedication LLC now owns 921 shares of the company’s stock worth $48,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MO shares. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Barclays upped their target price on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus upped their target price on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Citigroup upped 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 analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $53.43.

Altria Group Trading Up 0.4 %

MO opened at $52.81 on Thursday. The stock has a market capitalization of $89.50 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 2.67 and a beta of 0.64. Altria Group, Inc. has a 1-year low of $39.25 and a 1-year high of $58.03. The business has a 50 day moving average of $53.81 and a 200-day moving average of $52.29.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. Equities analysts predict that Altria Group, Inc. will post 5.13 EPS for the current year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were given a $1.02 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 annualized dividend and a yield of 7.73%. Altria Group’s dividend payout ratio (DPR) is currently 68.92%.

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.