Heritage Trust Co Acquires 19,188 Shares of Altria Group, Inc. (NYSE:MO)

Key Points

• Heritage Trust Co increased its holdings in Altria Group by 15.6% during the first quarter, acquiring an additional 19,188 shares, bringing its total to 141,932 shares valued at approximately $8.52 million.
• Altria Group reported earnings of $1.44 per share for the last quarter, exceeding analyst expectations of $1.37, while the company generated revenue of $5.29 billion, up 0.2% year-over-year.
• The company announced a quarterly dividend of $1.02 per share, resulting in an annualized dividend yield of 6.6%, and has a payout ratio of approximately 78.92%.

Heritage Trust Co grew its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 15.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 141,932 shares of the company's stock after buying an additional 19,188 shares during the quarter. Altria Group makes up 1.0% of Heritage Trust Co's holdings, making the stock its 21st biggest holding. Heritage Trust Co's holdings in Altria Group were worth $8,519,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of MO. Redwood Park Advisors LLC acquired a new stake in shares of Altria Group in the 4th quarter worth about $26,000. Sierra Ocean LLC increased its stake in shares of Altria Group by 226.3% during the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after purchasing an additional 353 shares during the last quarter. Inlight Wealth Management LLC purchased a new stake in shares of Altria Group during the 1st quarter worth approximately $31,000. Pinney & Scofield Inc. bought a new position in Altria Group in the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC boosted its holdings in Altria Group by 51.8% in the 1st quarter. TruNorth Capital Management LLC now owns 636 shares of the company's stock worth $38,000 after buying an additional 217 shares during the period. Institutional investors own 57.41% of the company's stock.

Altria Group Stock Up 0.7%

Shares of NYSE MO traded up $0.41 during mid-day trading on Tuesday, reaching $62.35. 1,541,016 shares of the company were exchanged, compared to its average volume of 9,217,521. Altria Group, Inc. has a 52 week low of $48.86 and a 52 week high of $62.65. The stock has a market capitalization of $104.74 billion, a PE ratio of 12.06, a PEG ratio of 3.32 and a beta of 0.59. The company's 50 day moving average price is $59.43 and its 200 day moving average price is $57.54.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%. Altria Group's revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm posted $1.31 EPS. On average, sell-side analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Monday, June 16th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend was Monday, June 16th. Altria Group's dividend payout ratio (DPR) is currently 78.92%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. UBS Group raised shares of Altria Group from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Citigroup raised their price objective on shares of Altria Group from $52.00 to $55.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Jefferies Financial Group initiated coverage on shares of Altria Group in a report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price objective for the company. Barclays raised their price target on shares of Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a report on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $58.13.

Altria Group Company 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.