Altria Group, Inc. (NYSE:MO) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its position in Altria Group, Inc. (NYSE:MO - Free Report) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 787,254 shares of the company's stock after selling 9,157 shares during the quarter. Pictet Asset Management Holding SA's holdings in Altria Group were worth $41,166,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MO. Public Sector Pension Investment Board raised its position in shares of Altria Group by 10.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 72,830 shares of the company's stock valued at $3,717,000 after purchasing an additional 6,800 shares during the last quarter. Fred Alger Management LLC lifted its stake in shares of Altria Group by 3.7% during the third quarter. Fred Alger Management LLC now owns 84,863 shares of the company's stock worth $4,331,000 after buying an additional 3,063 shares during the period. Arete Wealth Advisors LLC purchased a new stake in shares of Altria Group during the third quarter valued at $963,000. Cobblestone Capital Advisors LLC NY increased its position in shares of Altria Group by 3.4% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 8,425 shares of the company's stock valued at $430,000 after acquiring an additional 277 shares during the period. Finally, Semmax Financial Advisors Inc. increased its position in shares of Altria Group by 3.0% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 21,036 shares of the company's stock valued at $1,145,000 after acquiring an additional 612 shares during the period. 57.41% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analysts Set New Price Targets

Several analysts have weighed in on MO shares. UBS Group boosted their price target on Altria Group from $42.00 to $46.00 and gave the company a "sell" rating in a research note on Tuesday. Morgan Stanley cut 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 raised shares of Altria Group from a "neutral" rating to a "buy" rating and raised their price target for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Altria Group from a "buy" rating to a "hold" rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $54.00.

Altria Group Stock Down 1.8 %

Shares of NYSE MO traded down $1.06 during midday trading on Tuesday, reaching $58.96. 19,146,750 shares of the stock were exchanged, compared to its average volume of 8,921,810. The firm has a 50-day simple moving average of $55.23 and a two-hundred day simple moving average of $53.65. Altria Group, Inc. has a twelve month low of $40.65 and a twelve month high of $60.20. The firm has a market cap of $99.68 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. Research analysts expect 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 Wednesday, April 30th. Shareholders 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 yield of 6.92%. Altria Group's dividend payout ratio is currently 62.29%.

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.