Altria Group, Inc. (NYSE:MO) Shares Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lifted its position in Altria Group, Inc. (NYSE:MO - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 213,561 shares of the company's stock after purchasing an additional 5,477 shares during the period. Pinnacle Financial Partners Inc's holdings in Altria Group were worth $12,780,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MO. Redwood Park Advisors LLC purchased a new position in Altria Group during the 4th quarter valued at about $26,000. Inlight Wealth Management LLC purchased a new position in Altria Group during the first quarter valued at approximately $31,000. VSM Wealth Advisory LLC purchased a new position in Altria Group during the fourth quarter valued at approximately $29,000. Promus Capital LLC bought a new position in Altria Group in the fourth quarter worth approximately $33,000. Finally, Pinney & Scofield Inc. purchased a new stake in Altria Group during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays lifted their price target on Altria Group from $46.00 to $49.00 and gave the company an "underweight" rating in a report on Friday, May 2nd. UBS Group upgraded Altria Group from a "sell" rating to a "neutral" rating and lifted their target price for the company from $47.00 to $59.00 in a research note on Wednesday. Stifel Nicolaus boosted their target price on shares of Altria Group from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a report on Thursday, May 22nd. Finally, Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $57.71.

Altria Group Price Performance

NYSE MO traded up $0.45 during trading on Friday, hitting $59.62. The company's stock had a trading volume of 4,776,064 shares, compared to its average volume of 8,581,112. Altria Group, Inc. has a fifty-two week low of $45.87 and a fifty-two week high of $61.26. The company has a market cap of $100.43 billion, a PE ratio of 9.99, a P/E/G ratio of 3.49 and a beta of 0.59. The business's 50 day simple moving average is $59.28 and its 200-day simple moving average is $56.45.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.64 billion. Altria Group had a net margin of 43.09% and a negative return on equity of 295.44%. Altria Group's revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm posted $1.15 EPS. Analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 6.84%. Altria Group's payout ratio is presently 68.34%.

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.