Altria Group, Inc. (NYSE:MO) Stock Position Reduced by Bath Savings Trust Co

Bath Savings Trust Co reduced its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 33.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 10,739 shares of the company's stock after selling 5,347 shares during the quarter. Bath Savings Trust Co's holdings in Altria Group were worth $645,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Financial Life Planners bought a new position in shares of Altria Group during the fourth quarter worth about $25,000. Redwood Park Advisors LLC bought a new position in Altria Group in the 4th quarter worth about $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Altria Group in the fourth quarter valued at approximately $29,000. Marshall Investment Management LLC acquired a new position in shares of Altria Group during the fourth quarter worth approximately $32,000. Finally, Promus Capital LLC bought a new position in Altria Group in the 4th quarter worth approximately $33,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MO shares. Morgan Stanley decreased their price target on Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Wall Street Zen lowered shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Stifel Nicolaus raised their price objective on shares of Altria Group from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 target price on Altria Group in a report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $56.00.

Altria Group Stock Up 1.5%

NYSE:MO traded up $0.91 during trading hours on Friday, reaching $60.39. 12,765,415 shares of the company's stock were exchanged, compared to its average volume of 8,677,393. The company has a market capitalization of $101.72 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 2.89 and a beta of 0.60. Altria Group, Inc. has a 12 month low of $43.83 and a 12 month high of $61.26. The business's 50-day simple moving average is $58.34 and its two-hundred day simple moving average is $55.88.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.64 billion. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. The company's revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company posted $1.15 EPS. As a group, sell-side analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a dividend yield of 6.76%. Altria Group's dividend payout ratio (DPR) is presently 68.34%.

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.