Simmons Bank Acquires 2,181 Shares of Altria Group, Inc. (NYSE:MO)

Simmons Bank increased its holdings in Altria Group, Inc. (NYSE:MO) by 5.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 43,708 shares of the company’s stock after buying an additional 2,181 shares during the quarter. Simmons Bank’s holdings in Altria Group were worth $1,763,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Altshuler Shaham Ltd purchased a new position in shares of Altria Group during the third quarter valued at approximately $26,000. Nemes Rush Group LLC lifted its holdings in shares of Altria Group by 103.2% during the 3rd quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock valued at $27,000 after buying an additional 323 shares during the period. ZRC Wealth Management LLC lifted its holdings in shares of Altria Group by 67.6% during the 4th quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock valued at $28,000 after buying an additional 273 shares during the period. Criterion Capital Advisors LLC purchased a new position in shares of Altria Group in the 4th quarter worth $27,000. Finally, Financial Gravity Asset Management Inc. grew its holdings in shares of Altria Group by 1,800.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the company’s stock worth $30,000 after acquiring an additional 666 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MO has been the topic of several research reports. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 target price on shares of Altria Group in a research report on Monday, March 25th. UBS Group raised their price objective on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a report on Monday, April 8th. Finally, StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and an average target price of $46.90.

Insider Transactions at Altria Group

In related news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total transaction of $988,303.65. Following the sale, the vice president now owns 173,485 shares of the company’s stock, valued at approximately $7,624,665.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Altria Group Price Performance

Shares of NYSE:MO traded up $0.36 during mid-day trading on Tuesday, reaching $43.85. 12,050,526 shares of the company traded hands, compared to its average volume of 11,849,357. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $46.82. The firm has a market cap of $75.32 billion, a PE ratio of 9.17, a PEG ratio of 2.66 and a beta of 0.66. The company’s 50 day moving average price is $42.62 and its 200-day moving average price is $41.50.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same period in the prior year, the company posted $1.18 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, research analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, March 25th were given a $0.98 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $3.92 annualized dividend and a dividend yield of 8.94%. Altria Group’s payout ratio is 82.01%.

Altria Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.