UMB Bank n.a. Has $3.99 Million Position in Altria Group, Inc. (NYSE:MO)

UMB Bank n.a. lessened its stake in shares of Altria Group, Inc. (NYSE:MOFree Report) by 0.7% during the fourth quarter, Holdings Channel reports. The fund owned 98,805 shares of the company’s stock after selling 647 shares during the quarter. UMB Bank n.a.’s holdings in Altria Group were worth $3,986,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Loomis Sayles & Co. L P acquired a new position in Altria Group during the first quarter worth $25,000. Altshuler Shaham Ltd acquired a new position in Altria Group during the third quarter worth $26,000. Nemes Rush Group LLC raised its holdings in Altria Group by 103.2% during the third quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock worth $27,000 after buying an additional 323 shares during the last quarter. ZRC Wealth Management LLC raised its holdings in Altria Group by 67.6% during the fourth quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock worth $28,000 after buying an additional 273 shares during the last quarter. Finally, Legacy Financial Group LLC acquired a new position in Altria Group during the third quarter worth $30,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Trading Down 0.7 %

Altria Group stock opened at $42.93 on Wednesday. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $48.04. The firm has a 50 day moving average of $41.64 and a 200 day moving average of $41.50. The firm has a market capitalization of $75.71 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 2.60 and a beta of 0.65.

Altria Group (NYSE:MOGet Free Report) last released its earnings results on Thursday, February 1st. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.01. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.06 billion. Altria Group had a negative return on equity of 244.55% and a net margin of 33.21%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $1.18 earnings per share. On average, analysts predict that Altria Group, Inc. will post 5.08 EPS for the current year.

Altria Group declared that its board has initiated a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Friday, March 22nd. This represents a $3.92 annualized dividend and a yield of 9.13%. Altria Group’s dividend payout ratio (DPR) is presently 85.78%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MO. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. UBS Group restated a “sell” rating and issued a $36.10 target price on shares of Altria Group in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price on shares of Altria Group in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.82.

View Our Latest Research Report on Altria Group

Altria Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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