US Bancorp DE Sells 6,880 Shares of Altria Group, Inc. (NYSE:MO)

US Bancorp DE trimmed its stake in shares of Altria Group, Inc. (NYSE:MO) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 589,708 shares of the company’s stock after selling 6,880 shares during the quarter. US Bancorp DE’s holdings in Altria Group were worth $30,836,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Financial Life Planners acquired a new position in shares of Altria Group during the 4th quarter worth $25,000. True Wealth Design LLC raised its holdings in shares of Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares in the last quarter. Marshall Investment Management LLC acquired a new position in shares of Altria Group during the 4th quarter worth $32,000. Legacy Investment Solutions LLC acquired a new position in shares of Altria Group during the 3rd quarter worth $34,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Altria Group during the 4th quarter worth $40,000. 57.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MO has been the subject of a number of recent research reports. Barclays upped their target price on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Finally, Morgan Stanley lowered their target price on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $53.29.

Altria Group Trading Up 1.4 %

NYSE MO opened at $55.83 on Monday. The business’s 50-day moving average price is $52.77 and its two-hundred day moving average price is $52.91. 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 $94.38 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. As a group, analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be given a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.31%. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

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.