Altria Group, Inc. (NYSE:MO) Shares Purchased by Alta Capital Management LLC

Alta Capital Management LLC increased its position in shares of Altria Group, Inc. (NYSE:MO) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,216 shares of the company’s stock after purchasing an additional 3,855 shares during the period. Alta Capital Management LLC’s holdings in Altria Group were worth $2,992,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Advocates Investment Management purchased a new stake in Altria Group in the third quarter valued at $209,000. Gladstone Institutional Advisory LLC lifted its position in Altria Group by 9.6% in the third quarter. Gladstone Institutional Advisory LLC now owns 11,421 shares of the company’s stock valued at $583,000 after acquiring an additional 999 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in Altria Group by 21.4% in the third quarter. Chicago Partners Investment Group LLC now owns 14,090 shares of the company’s stock valued at $702,000 after acquiring an additional 2,485 shares during the last quarter. Pure Financial Advisors LLC lifted its position in Altria Group by 122.1% in the third quarter. Pure Financial Advisors LLC now owns 16,652 shares of the company’s stock valued at $850,000 after acquiring an additional 9,155 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Altria Group by 5.4% in the third quarter. Harbor Capital Advisors Inc. now owns 25,664 shares of the company’s stock valued at $1,310,000 after acquiring an additional 1,321 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of NYSE:MO opened at $57.33 on Tuesday. The company has a 50-day simple moving average of $52.84 and a 200-day simple moving average of $52.96. Altria Group, Inc. has a one year low of $39.25 and a one year high of $58.03. The stock has a market capitalization of $96.93 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 2.89 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. As a group, research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.12%. Altria Group’s dividend payout ratio (DPR) is 62.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MO shares. Barclays boosted their price target on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $55.00 to $65.00 in a research report on Friday, December 6th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Morgan Stanley reduced their target price 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.