M&T Bank Corp Sells 459,842 Shares of Altria Group, Inc. $MO

Key Points

• M&T Bank Corp sold 459,842 shares of Altria, cutting its stake by 88.9% to 57,444 shares worth $3.55 million per its latest Form 13F filing.
• Altria declared a quarterly dividend of $1.06 (ex-dividend March 25, payable April 30), implying an annualized payout of $4.24 and a yield of 6.3% with a payout ratio of 103.16%.
• Altria reported EPS of $1.30 (missed by $0.02) on $5.08B revenue, and analysts maintain a consensus rating of "Hold" with a $65.88 average price target versus the recent share price near $66.86.

M&T Bank Corp decreased its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 88.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,444 shares of the company's stock after selling 459,842 shares during the period. M&T Bank Corp's holdings in Altria Group were worth $3,553,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MO. Ameriprise Financial Inc. increased its position in Altria Group by 19.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 19,567,823 shares of the company's stock valued at $1,285,575,000 after buying an additional 3,172,753 shares in the last quarter. Northern Trust Corp boosted its holdings in Altria Group by 0.4% in the third quarter. Northern Trust Corp now owns 16,705,159 shares of the company's stock worth $1,103,543,000 after acquiring an additional 59,189 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Altria Group by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 12,747,828 shares of the company's stock worth $842,122,000 after acquiring an additional 132,846 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Altria Group by 0.4% in the third quarter. Capital Research Global Investors now owns 12,131,644 shares of the company's stock worth $801,412,000 after acquiring an additional 47,757 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Altria Group by 7.2% during the third quarter. JPMorgan Chase & Co. now owns 12,073,682 shares of the company's stock valued at $797,587,000 after acquiring an additional 814,665 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Stock Down 0.0%

Shares of MO stock opened at $66.86 on Monday. The company has a 50 day moving average price of $66.58 and a 200-day moving average price of $62.56. Altria Group, Inc. has a 52 week low of $54.70 and a 52 week high of $70.51. The firm has a market capitalization of $111.74 billion, a PE ratio of 16.27, a P/E/G ratio of 2.68 and a beta of 0.41.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.02). The company had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.02 billion. Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The company's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 EPS. Analysts anticipate that Altria Group, Inc. will post 5.61 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be issued a $1.06 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $4.24 dividend on an annualized basis and a yield of 6.3%. Altria Group's dividend payout ratio is currently 103.16%.

Insider Transactions at Altria Group

In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the completion of the sale, the senior vice president directly owned 180,869 shares in the company, valued at $12,221,318.33. The trade was a 13.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MO shares. Barclays lifted their price target on Altria Group from $57.00 to $63.00 and gave the stock an "underweight" rating in a research report on Monday, February 23rd. Jefferies Financial Group raised their price objective on shares of Altria Group from $47.00 to $50.00 and gave the company an "underperform" rating in a research note on Wednesday, March 4th. Bank of America lifted their target price on shares of Altria Group from $72.00 to $73.00 and gave the stock a "buy" rating in a report on Friday, April 10th. UBS Group upped their target price on shares of Altria Group from $67.00 to $74.00 and gave the stock a "buy" rating in a research note on Monday, March 9th. Finally, Stifel Nicolaus cut their price target on shares of Altria Group from $72.00 to $68.00 and set a "buy" rating on the stock in a report on Friday, January 30th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Altria Group presently has an average rating of "Hold" and a consensus price target of $65.88.

Altria Group Profile

Altria Group, Inc NYSE: MO is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company's operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria's principal operating businesses include Philip Morris USA (cigarettes), U.S.

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