Newport Trust Company LLC Sells 4,561 Shares of Altria Group, Inc. (NYSE:MO)

Newport Trust Company LLC lowered its stake in Altria Group, Inc. (NYSE:MO) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,780 shares of the company’s stock after selling 4,561 shares during the period. Newport Trust Company LLC’s holdings in Altria Group were worth $7,278,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Maryland Capital Advisors Inc. increased its stake in Altria Group by 154.4% in the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 349 shares during the period. BNP Paribas purchased a new stake in shares of Altria Group during the first quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new position in shares of Altria Group in the second quarter worth approximately $27,000. Pineridge Advisors LLC purchased a new position in shares of Altria Group in the fourth quarter worth $28,000. Finally, Westend Capital Management LLC bought a new stake in Altria Group during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of NYSE:MO opened at $50.23 on Friday. The firm has a market capitalization of $86.28 billion, a P/E ratio of 10.51, a P/E/G ratio of 3.07 and a beta of 0.65. The stock has a 50 day moving average price of $51.22 and a 200-day moving average price of $46.69. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $54.95.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the company posted $1.31 EPS. Altria Group’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities analysts forecast that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 8.12%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is presently 85.36%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MO. Argus raised shares of Altria Group to a “hold” rating in a report on Friday, May 31st. Barclays upped their price target on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, September 9th. Bank of America lifted their price objective on Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. UBS Group upped their target price on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Finally, Stifel Nicolaus raised their price target on Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $49.67.

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.