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

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas bought a new stake in shares of Altria Group during the first quarter worth about $27,000. MFA Wealth Advisors LLC bought a new stake in Altria Group in the 2nd quarter worth about $27,000. Hobbs Group Advisors LLC bought a new stake in Altria Group in the 2nd quarter worth about $30,000. Valley Wealth Managers Inc. grew its position in Altria Group by 63.9% in the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after purchasing an additional 260 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in Altria Group in the 1st quarter worth about $36,000. 57.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MO shares. Barclays upped their price objective on shares of Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, September 9th. UBS Group upped their price objective on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Citigroup upped their price objective on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Finally, Bank of America dropped their target price 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.20.

Altria Group Stock Performance

MO traded down $0.13 during midday trading on Friday, reaching $49.61. The company had a trading volume of 7,148,405 shares, compared to its average volume of 9,961,041. The stock has a market cap of $85.21 billion, a PE ratio of 10.38, a P/E/G ratio of 2.90 and a beta of 0.65. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $54.95. The business has a 50-day moving average price of $51.54 and a two-hundred day moving average price of $47.79.

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

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were paid a dividend of $1.02 per share. This is a boost from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 8.22%. The ex-dividend date of this dividend was Monday, September 16th. Altria Group’s dividend payout ratio is presently 85.36%.

Altria Group 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.