Truist Financial Corp Has $126.44 Million Position in Altria Group, Inc. (NYSE:MO)

Truist Financial Corp grew its stake in shares of Altria Group, Inc. (NYSE:MO) by 27.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,418,074 shares of the company’s stock after purchasing an additional 523,146 shares during the period. Truist Financial Corp’s holdings in Altria Group were worth $126,441,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Aviance Capital Partners LLC grew its position in Altria Group by 0.5% in the third 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. Horst & Graben Wealth Management LLC grew its position in Altria Group by 1.5% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock valued at $681,000 after purchasing an additional 198 shares in the last quarter. Fragasso Financial Advisors Inc grew its position in Altria Group by 3.3% in the fourth quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock valued at $330,000 after purchasing an additional 199 shares in the last quarter. American Institute for Advanced Investment Management LLP grew its position in Altria Group by 3.5% in the third quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares in the last quarter. Finally, Ridgecrest Wealth Partners LLC grew its position in Altria Group by 3.5% in the third quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of MO stock opened at $53.37 on Monday. The company has a market capitalization of $90.44 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 2.80 and a beta of 0.64. The company has a 50-day simple moving average of $52.75 and a 200 day simple moving average of $52.61. 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 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 net margin of 46.90% and a negative return on equity of 258.72%. Sell-side analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.65%. The ex-dividend date was Thursday, December 26th. Altria Group’s dividend payout ratio (DPR) is 62.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MO. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $65.00 in a research report on Friday, December 6th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Stifel Nicolaus lifted their price objective on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Morgan Stanley decreased their price objective 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Altria Group presently has a consensus rating of “Hold” and a consensus 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.