Altria Group, Inc. (NYSE:MO) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its position in Altria Group, Inc. (NYSE:MO) by 22.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 53,892 shares of the company’s stock after acquiring an additional 9,882 shares during the quarter. Independence Bank of Kentucky’s holdings in Altria Group were worth $2,818,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Aviance Capital Partners LLC increased its stake in Altria Group by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock valued at $2,060,000 after purchasing an additional 191 shares in the last quarter. Fragasso Financial Advisors Inc lifted its stake in Altria Group by 3.3% in the 4th quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock valued at $330,000 after buying an additional 199 shares in the last quarter. American Institute for Advanced Investment Management LLP grew its holdings 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 valued at $299,000 after buying an additional 200 shares during the last quarter. Ridgecrest Wealth Partners LLC increased its position in Altria Group by 3.5% during the third quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock worth $299,000 after buying an additional 200 shares in the last quarter. Finally, First Citizens Financial Corp raised its holdings in shares of Altria Group by 4.8% in the fourth quarter. First Citizens Financial Corp now owns 4,402 shares of the company’s stock worth $230,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 1.3 %

Shares of NYSE MO opened at $52.20 on Friday. The stock has a market capitalization of $88.46 billion, a PE ratio of 8.82, a P/E/G ratio of 2.76 and a beta of 0.64. The firm has a fifty day moving average of $53.57 and a 200-day moving average of $52.32. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $58.03.

Altria Group (NYSE:MO) last announced its quarterly 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 research analysts expect that Altria Group, Inc. will post 5.13 EPS for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a dividend of $1.02 per share. The ex-dividend date was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a yield of 7.82%. Altria Group’s dividend payout ratio (DPR) is 68.92%.

Wall Street Analyst Weigh In

A number of analysts recently commented on MO shares. Deutsche Bank Aktiengesellschaft increased their price objective on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays lifted their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Morgan Stanley lowered their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Two equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.29.

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.