Busey Bank Boosts Stake in Altria Group, Inc. (NYSE:MO)

Busey Bank increased its stake in shares of Altria Group, Inc. (NYSE:MO) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 184,268 shares of the company’s stock after purchasing an additional 4,448 shares during the period. Busey Bank’s holdings in Altria Group were worth $9,635,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in shares of 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 buying an additional 462 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Altria Group during the 3rd quarter valued at about $34,000. Peterson Financial Group Inc. purchased a new stake in shares of Altria Group during the 3rd quarter valued at about $41,000. Fairman Group LLC lifted its stake 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 purchasing an additional 410 shares during the period. Finally, Asset Dedication LLC boosted its holdings in shares of Altria Group by 27.7% in the fourth quarter. Asset Dedication LLC now owns 921 shares of the company’s stock worth $48,000 after buying an additional 200 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of MO opened at $52.81 on Thursday. The firm has a market cap of $89.50 billion, a P/E ratio of 8.92, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. Altria Group, Inc. has a 1 year low of $39.25 and a 1 year high of $58.03. The company has a 50 day simple moving average of $53.81 and a two-hundred day simple moving average of $52.29.

Altria Group (NYSE:MO) last posted its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. On average, sell-side analysts anticipate that Altria Group, Inc. will post 5.13 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently announced 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 of this dividend was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.73%. Altria Group’s dividend payout ratio is currently 68.92%.

Analyst Ratings Changes

Several research analysts have weighed in on MO shares. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Citigroup upped their price target on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Barclays lifted their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $53.43.

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.