OLD National Bancorp IN Sells 14,006 Shares of Altria Group, Inc. (NYSE:MO)

OLD National Bancorp IN lessened its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,633 shares of the company's stock after selling 14,006 shares during the period. OLD National Bancorp IN's holdings in Altria Group were worth $8,295,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in shares of Altria Group by 420.0% in the third 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 acquired a new position in Altria Group during the third quarter valued at approximately $34,000. Peterson Financial Group Inc. acquired a new position in Altria Group during the third quarter valued at approximately $41,000. Fairman Group LLC raised its position in Altria Group by 85.1% during the third quarter. Fairman Group LLC now owns 892 shares of the company's stock valued at $46,000 after purchasing an additional 410 shares in the last quarter. Finally, Asset Dedication LLC raised its position in Altria Group by 27.7% during the fourth quarter. Asset Dedication LLC now owns 921 shares of the company's stock valued at $48,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 57.41% of the company's stock.

Altria Group Price Performance

Shares of Altria Group stock traded down $1.07 during trading on Thursday, hitting $51.59. The company's stock had a trading volume of 16,525,339 shares, compared to its average volume of 7,842,010. Altria Group, Inc. has a 52 week low of $39.25 and a 52 week high of $58.03. The stock has a market cap of $87.44 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The stock has a 50-day moving average price of $53.75 and a two-hundred day moving average price of $52.29.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping 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, equities analysts predict that Altria Group, Inc. will post 5.13 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a dividend of $1.02 per share. The ex-dividend date was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a yield of 7.91%. Altria Group's dividend payout ratio (DPR) is currently 68.92%.

Analysts Set New Price Targets

Several research analysts have commented on MO shares. Stifel Nicolaus boosted their price objective on shares of Altria Group from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Citigroup boosted their price objective on shares of Altria Group from $44.50 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, October 8th. Morgan Stanley initiated coverage on shares of Altria Group in a report on Thursday, January 16th. They set an "equal weight" rating and a $54.00 price target for the company. Barclays upped their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an "underweight" rating in a report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Altria Group from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company 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.