Chevy Chase Trust Holdings LLC Has $54.89 Million Holdings in Altria Group, Inc. (NYSE:MO)

Chevy Chase Trust Holdings LLC boosted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 914,549 shares of the company’s stock after buying an additional 18,653 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Altria Group were worth $54,891,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position in Altria Group by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 59,805,286 shares of the company’s stock worth $3,127,218,000 after buying an additional 2,296,972 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Altria Group by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 41,938,507 shares of the company’s stock valued at $2,193,687,000 after purchasing an additional 1,134,748 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Altria Group by 0.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 22,273,491 shares of the company’s stock valued at $1,164,681,000 after purchasing an additional 76,004 shares during the last quarter. Northern Trust Corp grew its position in shares of Altria Group by 9.6% in the fourth quarter. Northern Trust Corp now owns 16,432,535 shares of the company’s stock valued at $859,257,000 after purchasing an additional 1,444,021 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Altria Group by 9.1% in the fourth quarter. Invesco Ltd. now owns 11,801,958 shares of the company’s stock valued at $617,124,000 after purchasing an additional 983,328 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Analysts Set New Price Targets

MO has been the topic of several research reports. Needham & Company LLC raised Altria Group to a “hold” rating in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Altria Group in a research report on Tuesday, April 1st. Stifel Nicolaus upped their target price on Altria Group from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Wall Street Zen downgraded Altria Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. Finally, Barclays boosted their price target on Altria Group from $46.00 to $49.00 and gave the company an “underweight” rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.00.

Altria Group Trading Up 1.3%

Shares of Altria Group stock opened at $60.52 on Tuesday. The business has a 50-day moving average price of $59.11 and a two-hundred day moving average price of $56.19. Altria Group, Inc. has a 1-year low of $45.17 and a 1-year high of $61.26. The company has a market cap of $101.94 billion, a P/E ratio of 10.14, a PEG ratio of 3.49 and a beta of 0.61.

Altria Group (NYSE:MO) last issued its earnings results on Tuesday, April 29th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.64 billion. Altria Group had a negative return on equity of 295.44% and a net margin of 43.09%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the business posted $1.15 EPS. Equities research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Monday, June 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.08 annualized dividend and a yield of 6.74%. Altria Group’s payout ratio is 68.34%.

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.