Bangor Savings Bank Has $481,000 Stake in Altria Group, Inc. (NYSE:MO)

Bangor Savings Bank reduced its holdings in Altria Group, Inc. (NYSE:MO) by 17.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,608 shares of the company’s stock after selling 2,200 shares during the quarter. Bangor Savings Bank’s holdings in Altria Group were worth $481,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MO. Charles Schwab Investment Management Inc. raised its stake in shares of Altria Group by 8.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,066,327 shares of the company’s stock valued at $2,000,861,000 after purchasing an additional 3,516,646 shares during the period. Geode Capital Management LLC raised its position in Altria Group by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 35,856,051 shares of the company’s stock valued at $1,596,257,000 after buying an additional 671,929 shares during the last quarter. FMR LLC raised its position in Altria Group by 8.3% in the 1st quarter. FMR LLC now owns 25,132,929 shares of the company’s stock valued at $1,121,431,000 after buying an additional 1,926,492 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Altria Group by 5.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 24,517,169 shares of the company’s stock valued at $990,002,000 after acquiring an additional 1,192,266 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its position in Altria Group by 108,222.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 18,590,308 shares of the company’s stock worth $849,763,000 after acquiring an additional 18,573,146 shares during the last quarter. Institutional investors and hedge funds own 58.94% of the company’s stock.

Altria Group Stock Down 1.3 %

Shares of Altria Group stock opened at $43.51 on Friday. The stock has a market cap of $77.21 billion, a P/E ratio of 11.42, a P/E/G ratio of 2.35 and a beta of 0.59. Altria Group, Inc. has a 12-month low of $40.35 and a 12-month high of $51.57. The business’s 50 day moving average is $44.42 and its 200-day moving average is $45.08.

Altria Group (NYSE:MO) last issued its earnings results on Tuesday, August 1st. The company reported $1.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.31. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.43 billion. Altria Group had a net margin of 27.40% and a negative return on equity of 225.61%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. On average, sell-side analysts expect that Altria Group, Inc. will post 5 EPS for the current year.

Altria Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be paid a $0.98 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.94. This represents a $3.92 annualized dividend and a yield of 9.01%. The ex-dividend date is Thursday, September 14th. Altria Group’s dividend payout ratio (DPR) is 102.89%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of Altria Group from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, August 22nd. StockNews.com assumed coverage on shares of Altria Group in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Altria Group has an average rating of “Hold” and a consensus price target of $47.50.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; moist smokeless tobacco products and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; and on! oral nicotine pouches.