Glenview Trust co Has $3.34 Million Holdings in Altria Group, Inc. (NYSE:MO)

Glenview Trust co reduced its stake in Altria Group, Inc. (NYSE:MO) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,903 shares of the company’s stock after selling 6,156 shares during the period. Glenview Trust co’s holdings in Altria Group were worth $3,341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of Altria Group by 5.6% during the third quarter. State Street Corp now owns 73,481,686 shares of the company’s stock worth $3,821,831,000 after purchasing an additional 3,910,738 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Altria Group during the 4th quarter worth $137,536,000. Charles Schwab Investment Management Inc. lifted its holdings in Altria Group by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 59,805,286 shares of the company’s stock worth $3,127,218,000 after acquiring an additional 2,296,972 shares in the last quarter. Geode Capital Management LLC grew its stake in Altria Group by 2.5% in the third quarter. Geode Capital Management LLC now owns 40,803,759 shares of the company’s stock valued at $2,079,919,000 after acquiring an additional 1,003,605 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Altria Group in the third quarter worth about $32,206,000. Institutional investors own 57.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $53.29.

Altria Group Stock Up 0.7 %

NYSE MO opened at $58.97 on Monday. The firm’s 50 day moving average is $53.75 and its 200-day moving average is $53.31. The company has a market capitalization of $99.70 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a 12-month low of $40.65 and a 12-month high of $59.67.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be given a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 6.92%. 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.