Bangor Savings Bank Sells 1,307 Shares of Altria Group, Inc. (NYSE:MO)

Bangor Savings Bank reduced its position in shares of Altria Group, Inc. (NYSE:MO) by 11.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,228 shares of the company’s stock after selling 1,307 shares during the period. Bangor Savings Bank’s holdings in Altria Group were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC lifted its holdings in shares of 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. Legacy Investment Solutions LLC bought a new position in Altria Group during the 3rd quarter worth $34,000. Valley Wealth Managers Inc. lifted its holdings in Altria Group by 63.9% during the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after buying an additional 260 shares during the period. Peterson Financial Group Inc. bought a new stake in shares of Altria Group in the 3rd quarter valued at about $41,000. Finally, Fairman Group LLC increased its stake in shares of Altria Group by 85.1% in the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock valued at $46,000 after buying an additional 410 shares during the period. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Trading Down 2.1 %

MO opened at $52.02 on Tuesday. The company has a fifty day moving average price of $54.63 and a two-hundred day moving average price of $51.70. Altria Group, Inc. has a 1-year low of $39.25 and a 1-year high of $58.03. The company has a market cap of $88.16 billion, a P/E ratio of 8.79, a price-to-earnings-growth ratio of 3.03 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, October 31st. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm’s revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. On average, research analysts forecast that Altria Group, Inc. will post 5.12 EPS for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 26th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.84%. The ex-dividend date is Thursday, December 26th. Altria Group’s payout ratio is currently 68.92%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. UBS Group lifted their price objective on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Citigroup upped 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. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Stifel Nicolaus upped their price target on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Barclays lifted their price objective on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Altria Group presently has an average rating of “Hold” and an average price target of $53.33.

About Altria Group

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.