Meyer Handelman Co. Has $4.21 Million Stock Position in Altria Group, Inc. (NYSE:MO)

Meyer Handelman Co. increased its position in shares of Altria Group, Inc. (NYSE:MO) by 32.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,482 shares of the company’s stock after purchasing an additional 23,800 shares during the period. Meyer Handelman Co.’s holdings in Altria Group were worth $4,209,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MO. Northern Trust Corp boosted its stake in shares of Altria Group by 0.3% in the 3rd quarter. Northern Trust Corp now owns 16,609,568 shares of the company’s stock valued at $698,432,000 after purchasing an additional 42,490 shares in the last quarter. Capital Research Global Investors grew its stake in Altria Group by 1.9% during the fourth quarter. Capital Research Global Investors now owns 13,279,658 shares of the company’s stock worth $535,701,000 after buying an additional 242,442 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Altria Group by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 9,259,451 shares of the company’s stock worth $373,526,000 after buying an additional 1,343,094 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Altria Group by 8.5% in the third quarter. Ameriprise Financial Inc. now owns 9,174,355 shares of the company’s stock valued at $381,278,000 after acquiring an additional 722,258 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of Altria Group by 7.6% in the 3rd quarter. Truist Financial Corp now owns 4,762,934 shares of the company’s stock worth $200,281,000 after acquiring an additional 337,548 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Altria Group news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total value of $988,303.65. Following the transaction, the vice president now owns 173,485 shares of the company’s stock, valued at $7,624,665.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on MO. StockNews.com lowered Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday. Argus raised shares of Altria Group to a “hold” rating in a research note on Friday, May 31st. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 target price on shares of Altria Group in a research report on Monday, March 25th. Finally, UBS Group raised their price target on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Altria Group currently has an average rating of “Hold” and a consensus price target of $46.90.

Altria Group Stock Performance

MO opened at $45.74 on Friday. The company has a fifty day moving average price of $44.71 and a two-hundred day moving average price of $42.58. The firm has a market capitalization of $78.56 billion, a PE ratio of 9.57, a P/E/G ratio of 2.80 and a beta of 0.64. Altria Group, Inc. has a 52 week low of $39.06 and a 52 week high of $47.19.

Altria Group (NYSE:MO) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. Equities analysts forecast that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.57%. The ex-dividend date is Friday, June 14th. Altria Group’s dividend payout ratio is currently 82.01%.

Altria Group 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.