Pinnacle Financial Partners Inc Has $10.88 Million Stake in Altria Group, Inc. (NYSE:MO)

Pinnacle Financial Partners Inc boosted its position in shares of Altria Group, Inc. (NYSE:MO) by 1.3% in the fourth quarter, Holdings Channel reports. The fund owned 208,084 shares of the company’s stock after acquiring an additional 2,764 shares during the period. Pinnacle Financial Partners Inc’s holdings in Altria Group were worth $10,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of MO. Financial Life Planners acquired a new position in shares of Altria Group during the fourth quarter valued at about $25,000. True Wealth Design LLC raised its position in shares of Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after buying an additional 462 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Altria Group during the third quarter valued at about $34,000. Kestra Investment Management LLC acquired a new position in shares of Altria Group during the fourth quarter valued at about $40,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Altria Group during the third quarter valued at about $41,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Up 1.2 %

NYSE:MO opened at $55.01 on Friday. Altria Group, Inc. has a 12-month low of $39.25 and a 12-month high of $58.03. The firm has a market capitalization of $93.22 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. The firm has a 50-day moving average price of $52.61 and a 200 day moving average price of $52.73.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. On average, research analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 annualized dividend and a yield of 7.42%. Altria Group’s dividend payout ratio is 62.29%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MO shares. 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 report on Friday, December 6th. Barclays upped their price objective on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Morgan Stanley dropped their price target on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.29.

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.