Washington Trust Bank Has $1.86 Million Stake in Altria Group, Inc. (NYSE:MO)

Washington Trust Bank lowered its stake in shares of Altria Group, Inc. (NYSE:MO) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,566 shares of the company’s stock after selling 588 shares during the quarter. Washington Trust Bank’s holdings in Altria Group were worth $1,860,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Financial Life Planners acquired a new stake in shares of Altria Group during the 4th quarter worth $25,000. True Wealth Design LLC lifted its position in Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares during the period. VSM Wealth Advisory LLC acquired a new stake in Altria Group during the fourth quarter worth about $29,000. Marshall Investment Management LLC bought a new position in Altria Group in the 4th quarter valued at about $32,000. Finally, Promus Capital LLC acquired a new position in shares of Altria Group in the 4th quarter valued at approximately $33,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Down 1.1 %

Shares of MO stock opened at $57.46 on Friday. Altria Group, Inc. has a twelve month low of $40.65 and a twelve month high of $59.67. The stock’s fifty day simple moving average is $54.42 and its 200 day simple moving average is $53.47. The firm has a market capitalization of $97.14 billion, a P/E ratio of 8.77, a P/E/G ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. As a group, equities research analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.10%. The ex-dividend date is Tuesday, March 25th. Altria Group’s payout ratio is currently 62.29%.

Wall Street Analysts Forecast Growth

MO has been the topic of several analyst reports. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Morgan Stanley reduced their target price on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.29.

Altria Group Company 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.