RNC Capital Management LLC Has $56.03 Million Stake in Altria Group, Inc. (NYSE:MO)

RNC Capital Management LLC trimmed its stake in Altria Group, Inc. (NYSE:MO) by 2.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,071,434 shares of the company’s stock after selling 26,825 shares during the quarter. Altria Group comprises approximately 3.0% of RNC Capital Management LLC’s portfolio, making the stock its 10th biggest holding. RNC Capital Management LLC’s holdings in Altria Group were worth $56,025,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Diversified Trust Co lifted its stake in Altria Group by 2.2% during the third quarter. Diversified Trust Co now owns 12,391 shares of the company’s stock worth $632,000 after purchasing an additional 263 shares during the last quarter. Atomi Financial Group Inc. raised its holdings in shares of Altria Group by 32.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 11,566 shares of the company’s stock valued at $590,000 after buying an additional 2,851 shares in the last quarter. Brookstone Capital Management lifted its position in Altria Group by 0.6% in the 3rd quarter. Brookstone Capital Management now owns 112,740 shares of the company’s stock worth $5,754,000 after buying an additional 700 shares during the last quarter. Daymark Wealth Partners LLC boosted its stake in Altria Group by 0.8% in the third quarter. Daymark Wealth Partners LLC now owns 29,828 shares of the company’s stock worth $1,522,000 after buying an additional 236 shares in the last quarter. Finally, CWM LLC grew its position in Altria Group by 15.3% during the third quarter. CWM LLC now owns 305,704 shares of the company’s stock valued at $15,603,000 after acquiring an additional 40,574 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Price Performance

MO opened at $52.66 on Friday. Altria Group, Inc. has a one year low of $39.25 and a one year high of $58.03. The business has a 50 day simple moving average of $53.29 and a two-hundred day simple moving average of $52.42. The firm has a market capitalization of $89.24 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 2.78 and a beta of 0.64.

Altria Group (NYSE:MO) last announced its quarterly earnings results 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, sell-side analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s payout ratio is currently 62.29%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MO shares. Morgan Stanley lowered their price objective on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Stifel Nicolaus upped their price target 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. Deutsche Bank Aktiengesellschaft lifted their price objective on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $55.00 to $65.00 in a report on Friday, December 6th. Finally, StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $53.29.

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.