Huntington National Bank trimmed its stake in shares of Altria Group Inc (NYSE:MO) by 5.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 302,237 shares of the company’s stock after selling 18,434 shares during the quarter. Huntington National Bank’s holdings in Altria Group were worth $17,357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in Altria Group by 82,381.0% in the third quarter. Bank of New York Mellon Corp now owns 22,356,466 shares of the company’s stock worth $1,348,318,000 after purchasing an additional 22,329,361 shares in the last quarter. Man Group plc grew its stake in Altria Group by 181.9% in the third quarter. Man Group plc now owns 106,641 shares of the company’s stock worth $6,432,000 after purchasing an additional 68,807 shares in the last quarter. Macquarie Group Ltd. grew its stake in Altria Group by 23.9% in the third quarter. Macquarie Group Ltd. now owns 138,032 shares of the company’s stock worth $8,324,000 after purchasing an additional 26,618 shares in the last quarter. Kentucky Retirement Systems bought a new position in Altria Group in the third quarter worth approximately $6,339,000. Finally, TIAA CREF Investment Management LLC grew its stake in Altria Group by 17.3% in the third quarter. TIAA CREF Investment Management LLC now owns 6,693,973 shares of the company’s stock worth $403,714,000 after purchasing an additional 988,827 shares in the last quarter. Institutional investors own 64.35% of the company’s stock.

Altria Group stock opened at $54.37 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.20 and a debt-to-equity ratio of 0.80. The firm has a market cap of $101.81 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 1.63 and a beta of 0.39. Altria Group Inc has a twelve month low of $42.40 and a twelve month high of $66.04.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, January 31st. The company reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.81 billion. Altria Group had a return on equity of 49.05% and a net margin of 27.45%. During the same quarter in the prior year, the business earned $0.91 earnings per share. Analysts anticipate that Altria Group Inc will post 4.2 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, March 25th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, March 22nd. This represents a $3.20 dividend on an annualized basis and a yield of 5.89%. Altria Group’s dividend payout ratio is currently 80.20%.

Several research analysts recently issued reports on the company. Morgan Stanley cut Altria Group from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, January 22nd. Zacks Investment Research raised Altria Group from a “sell” rating to a “hold” rating in a research note on Monday, April 8th. ValuEngine raised Altria Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 31st. Citigroup cut Altria Group from a “neutral” rating to a “sell” rating in a research note on Friday, December 21st. Finally, Bank of America increased their price objective on Altria Group from $56.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $63.11.

In related news, Director Nabil Y. Sakkab bought 1,352 shares of the stock in a transaction on Monday, February 25th. The stock was bought at an average price of $52.11 per share, for a total transaction of $70,452.72. Following the completion of the acquisition, the director now directly owns 39,660 shares in the company, valued at $2,066,682.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ivan S. Feldman sold 6,802 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $51.18, for a total value of $348,126.36. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

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Altria Group Company Profile

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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