OLD National Bancorp IN Has $8.81 Million Holdings in Altria Group, Inc. (NYSE:MO)

OLD National Bancorp IN grew its stake in shares of Altria Group, Inc. (NYSE:MO) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 172,639 shares of the company’s stock after acquiring an additional 2,034 shares during the period. OLD National Bancorp IN’s holdings in Altria Group were worth $8,811,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. CWM LLC increased its holdings in shares of Altria Group by 15.3% during the third quarter. CWM LLC now owns 305,704 shares of the company’s stock worth $15,603,000 after purchasing an additional 40,574 shares during the period. Albion Financial Group UT increased its holdings in shares of Altria Group by 49.1% during the first quarter. Albion Financial Group UT now owns 2,767 shares of the company’s stock worth $121,000 after purchasing an additional 911 shares during the period. Nordea Investment Management AB increased its holdings in shares of Altria Group by 1.6% during the first quarter. Nordea Investment Management AB now owns 1,027,886 shares of the company’s stock worth $44,960,000 after purchasing an additional 16,541 shares during the period. Regal Investment Advisors LLC increased its holdings in shares of Altria Group by 4.2% during the second quarter. Regal Investment Advisors LLC now owns 251,933 shares of the company’s stock worth $11,476,000 after purchasing an additional 10,079 shares during the period. Finally, Atomi Financial Group Inc. increased its holdings in shares of Altria Group by 7.2% during the first quarter. Atomi Financial Group Inc. now owns 5,953 shares of the company’s stock worth $260,000 after purchasing an additional 399 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MO. StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Bank of America decreased their price objective on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Citigroup lifted their price objective on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Stifel Nicolaus lifted their price objective on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group lifted their price objective on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Altria Group presently has a consensus rating of “Hold” and a consensus target price of $48.20.

Altria Group Trading Down 0.3 %

MO stock traded down $0.13 during midday trading on Friday, hitting $49.61. The stock had a trading volume of 7,148,405 shares, compared to its average volume of 9,961,041. The firm has a market cap of $85.21 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 2.90 and a beta of 0.65. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $54.95. The business has a fifty day moving average price of $51.54 and a two-hundred day moving average price of $47.79.

Altria Group (NYSE:MO) last released its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. Altria Group’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.31 EPS. On average, equities analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 8.22%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio is currently 85.36%.

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.