Altria Group, Inc. (NYSE:MO) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. decreased its holdings in shares of Altria Group, Inc. (NYSE:MO) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 225,060 shares of the company’s stock after selling 2,357 shares during the period. Cullen Frost Bankers Inc.’s holdings in Altria Group were worth $10,251,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Maryland Capital Advisors Inc. raised its position in Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after buying an additional 349 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in Altria Group in the second quarter valued at about $27,000. BNP Paribas purchased a new stake in Altria Group in the 1st quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new stake in Altria Group in the 2nd quarter valued at approximately $30,000. Finally, Westend Capital Management LLC purchased a new position in shares of Altria Group during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of NYSE MO opened at $53.69 on Friday. The firm’s 50-day moving average is $50.15 and its two-hundred day moving average is $46.02. Altria Group, Inc. has a 12-month low of $39.06 and a 12-month high of $54.95. The company has a market capitalization of $92.22 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 3.13 and a beta of 0.65.

Altria Group (NYSE:MO) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the business posted $1.31 EPS. The business’s quarterly revenue was up 14.2% on a year-over-year basis. On average, analysts forecast that Altria Group, Inc. will post 5.1 EPS for the current fiscal year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be 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 annualized dividend and a dividend yield of 7.60%. The ex-dividend date is Monday, September 16th. Altria Group’s dividend payout ratio (DPR) is currently 85.36%.

Wall Street Analyst Weigh In

MO has been the topic of a number of analyst reports. Argus upgraded Altria Group to a “hold” rating in a research note on Friday, May 31st. Stifel Nicolaus upped their price target on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Barclays increased their target price on shares of Altria Group from $37.00 to $43.00 and gave the company an “underweight” rating in a report on Wednesday, August 14th. Finally, Bank of America boosted their price target on Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.58.

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.