Mechanics Bank Trust Department Sells 300 Shares of Altria Group, Inc. (NYSE:MO)

Mechanics Bank Trust Department trimmed its stake in shares of Altria Group, Inc. (NYSE:MO) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,368 shares of the company’s stock after selling 300 shares during the quarter. Mechanics Bank Trust Department’s holdings in Altria Group were worth $3,052,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. True Wealth Design LLC lifted its holdings in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after purchasing an additional 462 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Altria Group during the third quarter worth approximately $34,000. Peterson Financial Group Inc. bought a new position in shares of Altria Group in the third quarter valued at approximately $41,000. Fairman Group LLC boosted its holdings in shares of Altria Group by 85.1% in the 3rd quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after acquiring an additional 410 shares in the last quarter. Finally, IFS Advisors LLC grew its position in Altria Group by 330.4% during the 4th quarter. IFS Advisors LLC now owns 977 shares of the company’s stock worth $51,000 after acquiring an additional 750 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MO has been the topic of a number of recent analyst reports. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Barclays upped their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus boosted their target price on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Morgan Stanley assumed coverage on shares of Altria Group in a report on Thursday. They issued an “equal weight” rating and a $54.00 price target for the company. Finally, Citigroup upped their price objective on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $53.43.

Altria Group Stock Performance

Shares of MO stock opened at $51.92 on Monday. The firm’s 50 day moving average price is $54.29 and its two-hundred day moving average price is $51.99. The stock has a market cap of $87.99 billion, a PE ratio of 8.77, a PEG ratio of 2.69 and a beta of 0.64. Altria Group, Inc. has a 52-week low of $39.25 and a 52-week high of $58.03.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same period last year, the company earned $1.28 EPS. The firm’s revenue was up 18.6% on a year-over-year basis. As a group, sell-side analysts predict that Altria Group, Inc. will post 5.12 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were given a $1.02 dividend. The ex-dividend date was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.86%. Altria Group’s dividend payout ratio is 68.92%.

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.