VeraBank N.A. Buys 8,534 Shares of Altria Group, Inc. (NYSE:MO)

VeraBank N.A. boosted its stake in Altria Group, Inc. (NYSE:MO) by 57.0% in the third quarter, HoldingsChannel reports. The firm owned 23,506 shares of the company’s stock after acquiring an additional 8,534 shares during the period. VeraBank N.A.’s holdings in Altria Group were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MO. Delta Investment Management LLC lifted its holdings in shares of Altria Group by 2.9% in the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock worth $322,000 after buying an additional 198 shares during the period. Scarborough Advisors LLC grew its holdings in Altria Group by 18.5% during the 2nd quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock worth $58,000 after acquiring an additional 200 shares in the last quarter. American Institute for Advanced Investment Management LLP increased its position in Altria Group by 3.5% during the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares during the period. Zhang Financial LLC raised its holdings in shares of Altria Group by 1.1% in the 3rd quarter. Zhang Financial LLC now owns 18,454 shares of the company’s stock valued at $942,000 after purchasing an additional 202 shares in the last quarter. Finally, Hollencrest Capital Management lifted its position in shares of Altria Group by 0.3% in the 2nd quarter. Hollencrest Capital Management now owns 76,595 shares of the company’s stock worth $3,489,000 after purchasing an additional 203 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Trading Up 1.0 %

Shares of MO stock traded up $0.51 during trading hours on Friday, reaching $54.05. 5,712,292 shares of the company’s stock were exchanged, compared to its average volume of 7,669,546. The stock has a market cap of $91.60 billion, a PE ratio of 9.13, a PEG ratio of 3.09 and a beta of 0.64. The stock’s fifty day moving average price is $51.50 and its two-hundred day moving average price is $48.85. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $55.05.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the prior year, the business posted $1.28 EPS. Altria Group’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, equities analysts expect that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.55%. The ex-dividend date was Monday, September 16th. This is an increase from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is presently 68.92%.

Wall Street Analysts Forecast Growth

MO has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Bank of America cut their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus lifted their price objective on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.33.

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.