Pinnacle Bancorp Inc. Has $360,000 Position in Altria Group, Inc. (NYSE:MO)

by · The Cerbat Gem

Pinnacle Bancorp Inc. boosted its stake in shares of Altria Group, Inc. (NYSE:MO – Free Report) by 37.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,059 shares of the company’s stock after acquiring an additional 1,910 shares during the period. Pinnacle Bancorp Inc.’s holdings in Altria Group were worth $360,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its stake in shares of Altria Group by 120.6% in the 1st quarter. Van ECK Associates Corp now owns 8,762,047 shares of the company’s stock valued at $382,201,000 after purchasing an additional 4,789,788 shares during the last quarter. AQR Capital Management LLC grew its position in Altria Group by 25.0% in the second quarter. AQR Capital Management LLC now owns 6,490,441 shares of the company’s stock valued at $295,055,000 after acquiring an additional 1,299,703 shares during the last quarter. Cetera Investment Advisers raised its stake in Altria Group by 415.4% during the first quarter. Cetera Investment Advisers now owns 984,285 shares of the company’s stock worth $42,935,000 after acquiring an additional 793,327 shares in the last quarter. Ilex Capital Partners UK LLP bought a new position in shares of Altria Group in the first quarter worth about $27,613,000. Finally, Distillate Capital Partners LLC lifted its holdings in shares of Altria Group by 182,943.7% in the second quarter. Distillate Capital Partners LLC now owns 569,266 shares of the company’s stock worth $25,930,000 after acquiring an additional 568,955 shares during the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MO has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price objective on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays upped their price target on shares of Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, September 9th. UBS Group raised their price objective on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Bank of America upped their target price on Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, StockNews.com lowered Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and a consensus price target of $50.17.

View Our Latest Report on MO

Altria Group Trading Down 1.1 %

Shares of MO stock opened at $49.67 on Friday. The stock has a 50-day moving average of $51.58 and a 200-day moving average of $47.47. The stock has a market cap of $84.75 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 2.90 and a beta of 0.65. Altria Group, Inc. has a 1-year low of $39.06 and a 1-year high of $54.95.

Altria Group (NYSE:MO – Get Free Report) last issued its quarterly earnings results 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 analyst estimates of $5.39 billion. During the same quarter last year, the firm posted $1.31 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Sell-side analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 8.21%. This is a boost from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio is 70.34%.

About Altria Group

(Free Report)

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.

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