50,075 Shares of Altria Group, Inc. $MO Purchased by Associated Banc Corp

Key Points

• Associated Banc Corp acquired 50,075 Altria shares in the third quarter, worth approximately $3.37 million. Institutional investors and hedge funds own 57.41% of the stock.
• Altria reported quarterly earnings of $1.52 per share and revenue of $5.44 billion, both slightly above analyst expectations. It raised its quarterly dividend from $1.06 to $1.11, equivalent to a 5.7% annualized yield.
• Analysts have a consensus “Hold” rating and an average price target of $71.67; the stock opened at $78.02.

Associated Banc Corp acquired a new stake in Altria Group, Inc. (NYSE:MO - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 50,075 shares of the company's stock, valued at approximately $3,372,000.

Several other hedge funds have also recently modified their holdings of the stock. Procyon Advisors LLC lifted its stake in Altria Group by 59.3% in the first quarter. Procyon Advisors LLC now owns 38,926 shares of the company's stock valued at $2,569,000 after buying an additional 14,490 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of Altria Group in the 2nd quarter valued at $2,911,000. Janney Montgomery Scott LLC increased its stake in Altria Group by 26.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 1,164,691 shares of the company's stock worth $83,800,000 after purchasing an additional 246,702 shares in the last quarter. Waverly Advisors LLC increased its stake in Altria Group by 21.6% in the 1st quarter. Waverly Advisors LLC now owns 95,137 shares of the company's stock worth $6,278,000 after purchasing an additional 16,877 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Altria Group by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,952,375 shares of the company's stock worth $128,837,000 after buying an additional 40,974 shares during the period. 57.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Altria Group

In related news, Director Kathryn McQuade bought 1,500 shares of the firm's stock in a transaction on Wednesday, September 9th. The stock was bought at an average price of $67.62 per share, with a total value of $101,430.00. Following the purchase, the director directly owned 114,929 shares of the company's stock, valued at approximately $7,771,498.98. This represents a 1.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is currently owned by insiders.

Altria Group Price Performance

NYSE:MO opened at $78.02 on Thursday. Altria Group, Inc. has a fifty-two week low of $54.70 and a fifty-two week high of $79.81. The stock's 50-day moving average is $71.04 and its two-hundred day moving average is $68.99. The stock has a market cap of $129.78 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 2.61 and a beta of 0.43.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.51 by $0.01. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.31 billion. Altria Group had a negative return on equity of 330.66% and a net margin of 34.51%. The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.45 EPS. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.70 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Tuesday, September 15th were given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Tuesday, September 15th. This is a positive change from Altria Group's previous quarterly dividend of $1.06. Altria Group's payout ratio is currently 91.74%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. BTIG Research assumed coverage on shares of Altria Group in a research note on Tuesday, July 21st. They set a "neutral" rating for the company. Freedom Broker raised shares of Altria Group to a "hold" rating in a research report on Wednesday, September 16th. Weiss Ratings restated a "buy (b)" rating on shares of Altria Group in a research report on Monday, October 12th. Citigroup raised their price objective on shares of Altria Group from $70.00 to $72.00 and gave the stock a "neutral" rating in a research note on Friday, October 30th. Finally, Barclays boosted their target price on shares of Altria Group from $58.00 to $60.00 and gave the company an "underweight" rating in a research note on Monday. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Altria Group has a consensus rating of "Hold" and an average target price of $71.67.

More Altria Group News

Here are the key news stories impacting Altria Group this week:

• Positive Sentiment: Altria’s October advance was supported by solid earnings, with price increases helping offset a smaller-than-expected decline in cigarette volumes. The company is also continuing share repurchases and dividend increases, which may appeal to income-focused investors. Why Altria Group Shares Bumped 15.9% Higher In October
• Positive Sentiment: Barclays raised its price target on MO, providing a supportive analyst signal, though the report headline does not specify the new target or its rationale. Altria Group Stock Gets Price Target Increase from Barclays
• Neutral Sentiment: Altria filed a universal shelf registration that gives it flexibility to issue debt, warrants or other securities for purposes such as refinancing or general corporate needs. It does not mean an offering is imminent, but future issuance could affect the company’s financing costs or shareholder dilution depending on the securities issued. Why Did Altria Group File A Universal Shelf Registration?
• Negative Sentiment: The 10-year Treasury yield near 4.91% offers investors a comparatively low-risk income alternative, potentially making high-yield dividend stocks like Altria less attractive at the margin. The 10-Year Treasury Yields 4.91%. These 4 Dividend Stocks Pay More

About Altria Group

Altria Group, Inc is a U.S.-based consumer products company focused primarily on tobacco, nicotine and related products. Through its operating companies, Altria sells cigarettes, cigars, pipe tobacco, oral tobacco and nicotine products, and electronic vapor products.

Altria's principal cigarette business is Philip Morris USA, whose portfolio includes Marlboro, Parliament and Virginia Slims. Its other major brands include Copenhagen and Skoal moist smokeless tobacco, Black & Mild cigars, on! nicotine pouches and NJOY electronic cigarettes.

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.