PNC Financial Services Group Inc. Has $98.36 Million Stock Holdings in Altria Group, Inc. (NYSE:MO)

PNC Financial Services Group Inc. cut its stake in shares of Altria Group, Inc. (NYSE:MO) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,881,006 shares of the company’s stock after selling 41,734 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.11% of Altria Group worth $98,358,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aviance Capital Partners LLC raised its position in Altria Group by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock valued at $2,060,000 after purchasing an additional 191 shares in the last quarter. Horst & Graben Wealth Management LLC lifted its position in shares of Altria Group by 1.5% during the 4th quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock worth $681,000 after buying an additional 198 shares during the last quarter. Fragasso Financial Advisors Inc boosted its stake in Altria Group by 3.3% in the fourth quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock valued at $330,000 after buying an additional 199 shares in the last quarter. Ridgecrest Wealth Partners LLC grew its position in Altria Group by 3.5% in the third quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after acquiring an additional 200 shares during the last quarter. Finally, First Citizens Financial Corp lifted its holdings in shares of Altria Group by 4.8% in the fourth quarter. First Citizens Financial Corp now owns 4,402 shares of the company’s stock worth $230,000 after acquiring an additional 200 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MO shares. Morgan Stanley decreased their price target on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Two 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’s stock. According to data from MarketBeat, Altria Group has a consensus rating of “Hold” and a consensus target price of $53.29.

Altria Group Stock Up 1.4 %

Shares of Altria Group stock opened at $57.79 on Friday. The stock has a market cap of $97.70 billion, a price-to-earnings ratio of 8.82, a P/E/G ratio of 2.89 and a beta of 0.56. Altria Group, Inc. has a twelve month low of $40.65 and a twelve month high of $58.59. The company’s fifty day moving average is $53.15 and its 200 day moving average is $53.10.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. As a group, equities analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be given a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.06%. Altria Group’s payout ratio is presently 62.29%.

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.