M&T Bank Corp Purchases 6,923 Shares of Altria Group, Inc. (NYSE:MO)

M&T Bank Corp raised its stake in shares of Altria Group, Inc. (NYSE:MOGet Rating) by 1.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 580,870 shares of the company’s stock after purchasing an additional 6,923 shares during the period. M&T Bank Corp’s holdings in Altria Group were worth $30,350,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MO. Bromfield Sneider Wealth Advisors bought a new position in Altria Group in the first quarter worth approximately $27,000. Rinkey Investments purchased a new stake in shares of Altria Group during the 4th quarter valued at $30,000. Masso Torrence Wealth Management Inc. purchased a new stake in shares of Altria Group during the 4th quarter valued at $31,000. Reitz Capital Advisors LLC purchased a new stake in shares of Altria Group during the 1st quarter valued at $31,000. Finally, Okabena Investment Services Inc. purchased a new position in Altria Group in the 4th quarter worth $32,000. Institutional investors own 59.05% of the company’s stock.

Altria Group Stock Performance

MO stock opened at $44.10 on Friday. The firm has a market cap of $79.42 billion, a PE ratio of 45.46, a PEG ratio of 2.28 and a beta of 0.62. The firm’s 50 day moving average price is $45.15 and its 200-day moving average price is $49.97. Altria Group, Inc. has a one year low of $41.00 and a one year high of $57.05.

Altria Group (NYSE:MOGet Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.42 billion. Altria Group had a net margin of 6.88% and a negative return on equity of 488.86%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS. Equities research analysts predict that Altria Group, Inc. will post 4.86 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Wednesday, June 15th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 8.16%. The ex-dividend date of this dividend was Tuesday, June 14th. Altria Group’s payout ratio is 371.13%.

Analysts Set New Price Targets

A number of research firms have weighed in on MO. StockNews.com lowered Altria Group from a “buy” rating to a “hold” rating in a research note on Saturday. Cowen dropped their target price on Altria Group from $56.00 to $45.00 and set a “market perform” rating on the stock in a research report on Monday, June 27th. Sanford C. Bernstein cut Altria Group from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $58.00 to $53.00 in a research report on Tuesday, May 10th. Morgan Stanley upgraded Altria Group from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $47.00 to $43.00 in a research report on Friday, June 24th. Finally, Bank of America dropped their target price on Altria Group from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, July 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.00.

Altria Group Company Profile

(Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

See Also

Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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