Trust Co. of Toledo NA OH Invests $772,000 in Altria Group, Inc. (NYSE:MO)

Trust Co. of Toledo NA OH bought a new position in Altria Group, Inc. (NYSE:MO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,939 shares of the company’s stock, valued at approximately $772,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MO. Maryland Capital Advisors Inc. raised its holdings in Altria Group by 154.4% in the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after buying an additional 349 shares during the last quarter. Accordant Advisory Group Inc bought a new position in Altria Group in the 1st quarter valued at approximately $26,000. Criterion Capital Advisors LLC bought a new position in Altria Group in the 4th quarter valued at approximately $27,000. BNP Paribas bought a new position in Altria Group in the 1st quarter valued at approximately $27,000. Finally, Pineridge Advisors LLC acquired a new stake in Altria Group during the 4th quarter valued at approximately $28,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of MO stock traded up $0.13 during trading hours on Tuesday, hitting $49.48. 8,006,601 shares of the company were exchanged, compared to its average volume of 10,751,213. The firm has a market cap of $84.99 billion, a P/E ratio of 10.46, a P/E/G ratio of 3.07 and a beta of 0.66. Altria Group, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $51.40. The company has a 50 day simple moving average of $47.15 and a two-hundred day simple moving average of $44.08.

Altria Group (NYSE:MO) last posted its quarterly earnings results 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 net margin of 42.25% and a negative return on equity of 232.55%. The business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the business posted $1.31 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 7.92%. The ex-dividend date of this dividend was Friday, June 14th. Altria Group’s dividend payout ratio (DPR) is presently 82.01%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MO shares. Bank of America increased their target price on shares of Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Stifel Nicolaus increased their target price on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. UBS Group increased their target price on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research report on Monday, April 8th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Finally, Argus raised shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Altria Group has an average rating of “Hold” and an average target price of $47.90.

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.