Argent Trust Co boosted its stake in shares of Altria Group Inc (NYSE:MO) by 83.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,403 shares of the company’s stock after purchasing an additional 15,195 shares during the period. Argent Trust Co’s holdings in Altria Group were worth $1,897,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Independence Bank of Kentucky boosted its holdings in shares of Altria Group by 13.2% in the 2nd quarter. Independence Bank of Kentucky now owns 14,488 shares of the company’s stock valued at $823,000 after acquiring an additional 1,685 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Altria Group by 86.2% in the 2nd quarter. Private Advisor Group LLC now owns 222,215 shares of the company’s stock valued at $12,456,000 after acquiring an additional 102,859 shares during the last quarter. Financial Sense Advisors Inc. boosted its holdings in shares of Altria Group by 1,507.5% in the 2nd quarter. Financial Sense Advisors Inc. now owns 56,262 shares of the company’s stock valued at $3,195,000 after acquiring an additional 52,762 shares during the last quarter. LVW Advisors LLC boosted its holdings in shares of Altria Group by 5.4% in the 2nd quarter. LVW Advisors LLC now owns 59,179 shares of the company’s stock valued at $3,361,000 after acquiring an additional 3,008 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Altria Group in the 2nd quarter valued at $178,215,000. 63.27% of the stock is currently owned by institutional investors.

MO opened at $62.44 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.65 and a debt-to-equity ratio of 0.83. Altria Group Inc has a 1 year low of $53.91 and a 1 year high of $74.38. The firm has a market capitalization of $119.58 billion, a P/E ratio of 18.47, a PEG ratio of 1.80 and a beta of 0.62.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, July 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a net margin of 42.00% and a return on equity of 48.88%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. equities research analysts forecast that Altria Group Inc will post 4 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Friday, September 14th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, September 13th. This is a boost from Altria Group’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 5.12%. Altria Group’s dividend payout ratio is currently 94.67%.

Several research firms recently issued reports on MO. Jefferies Financial Group cut shares of Altria Group from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a research note on Friday, August 24th. Stifel Nicolaus decreased their target price on shares of Altria Group from $78.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Piper Jaffray Companies set a $75.00 target price on shares of Altria Group and gave the company a “buy” rating in a research note on Monday, July 23rd. Zacks Investment Research upgraded shares of Altria Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 31st. Finally, Consumer Edge began coverage on shares of Altria Group in a research note on Monday, June 11th. They issued an “equal weight” rating and a $69.31 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Altria Group presently has an average rating of “Buy” and an average price target of $70.95.

In other Altria Group news, Director Dinyar S. Devitre sold 3,165 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $58.44, for a total transaction of $184,962.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.11% of the company’s stock.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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

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