Altria Group, Inc. (NYSE:MO) Shares Purchased by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. increased its stake in Altria Group by 3.5%, acquiring an additional 65,006 shares to hold approximately 1,946,012 shares worth around $116.8 million.
• Altria Group reported $1.44 earnings per share for its last quarter, surpassing analysts' estimates, with a net margin of 37.24% and revenue totaling $5.29 billion.
• The company announced a quarterly dividend of $1.02 per share, which translates to an annualized yield of 6.6%, reflecting a payout ratio of 78.92%.

PNC Financial Services Group Inc. raised its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,946,012 shares of the company's stock after purchasing an additional 65,006 shares during the period. PNC Financial Services Group Inc. owned approximately 0.12% of Altria Group worth $116,800,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Redwood Park Advisors LLC purchased a new position in shares of Altria Group in the 4th quarter worth $26,000. Inlight Wealth Management LLC purchased a new position in shares of Altria Group in the 1st quarter worth $31,000. Sierra Ocean LLC boosted its stake in shares of Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after buying an additional 353 shares during the last quarter. Pinney & Scofield Inc. purchased a new position in shares of Altria Group in the 4th quarter worth $33,000. Finally, Bellwether Advisors LLC bought a new position in Altria Group in the 4th quarter worth $38,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MO has been the topic of a number of recent research reports. Needham & Company LLC raised Altria Group to a "hold" rating in a report on Thursday, May 22nd. Jefferies Financial Group initiated coverage on Altria Group in a report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 target price on the stock. Barclays raised 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. Citigroup raised their price target on Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Finally, UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and raised their price target for the company from $47.00 to $59.00 in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $58.13.

Altria Group Stock Up 0.8%

NYSE MO traded up $0.50 during trading hours on Tuesday, hitting $62.44. 749,173 shares of the company were exchanged, compared to its average volume of 9,212,219. The stock has a 50-day moving average price of $59.43 and a 200 day moving average price of $57.54. Altria Group, Inc. has a 52 week low of $48.86 and a 52 week high of $62.65. The stock has a market cap of $104.89 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 3.32 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate 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%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 earnings per share. As a group, sell-side analysts anticipate 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 paid a $1.02 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 6.5%. Altria Group's dividend payout ratio is 78.92%.

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.