Burke & Herbert Bank & Trust Co. Increases Stake in Altria Group, Inc. (NYSE:MO)

Burke & Herbert Bank & Trust Co. lifted its position in Altria Group, Inc. (NYSE:MO) by 6.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 21,283 shares of the company’s stock after purchasing an additional 1,245 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Altria Group were worth $964,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MO. Loomis Sayles & Co. L P bought a new position in shares of Altria Group during the first quarter valued at about $25,000. Ruedi Wealth Management Inc. bought a new position in shares of Altria Group during the fourth quarter valued at approximately $30,000. Ellevest Inc. lifted its stake in Altria Group by 346.7% in the first quarter. Ellevest Inc. now owns 670 shares of the company’s stock worth $30,000 after acquiring an additional 520 shares during the period. NewSquare Capital LLC boosted its holdings in Altria Group by 153.8% in the first quarter. NewSquare Capital LLC now owns 731 shares of the company’s stock valued at $33,000 after acquiring an additional 443 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new position in Altria Group in the 4th quarter worth $34,000. 58.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Altria Group from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, August 22nd. StockNews.com started coverage on 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 given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Altria Group has a consensus rating of “Hold” and a consensus target price of $47.50.

Altria Group Price Performance

Altria Group stock traded down $0.09 during mid-day trading on Monday, reaching $43.44. The stock had a trading volume of 3,084,858 shares, compared to its average volume of 7,807,353. Altria Group, Inc. has a one year low of $40.35 and a one year high of $51.57. The company has a 50-day moving average price of $44.38 and a two-hundred day moving average price of $45.04. The company has a market capitalization of $77.09 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 2.35 and a beta of 0.59.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $1.31 earnings per share for the quarter, meeting the consensus estimate of $1.31. Altria Group had a net margin of 27.40% and a negative return on equity of 225.61%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Altria Group, Inc. will post 5 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.98 per share. This is an increase from Altria Group’s previous quarterly dividend of $0.94. This represents a $3.92 dividend on an annualized basis and a dividend yield of 9.02%. The ex-dividend date of this dividend is Thursday, September 14th. Altria Group’s payout ratio is currently 102.89%.

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.