Altria Group, Inc. (NYSE:MO) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC increased its holdings in Altria Group, Inc. (NYSE:MO) by 24.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,111 shares of the company’s stock after purchasing an additional 11,111 shares during the quarter. Fisher Asset Management LLC’s holdings in Altria Group were worth $2,304,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Taylor & Morgan Wealth Management LLC raised its stake in shares of Altria Group by 2.1% during the 4th quarter. Taylor & Morgan Wealth Management LLC now owns 11,981 shares of the company’s stock worth $483,000 after buying an additional 246 shares during the period. Whitener Capital Management Inc. grew its position in shares of Altria Group by 2.6% in the third quarter. Whitener Capital Management Inc. now owns 9,797 shares of the company’s stock valued at $412,000 after purchasing an additional 250 shares during the period. Salvus Wealth Management LLC increased its stake in shares of Altria Group by 1.8% during the fourth quarter. Salvus Wealth Management LLC now owns 14,326 shares of the company’s stock worth $578,000 after purchasing an additional 250 shares in the last quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its stake in Altria Group by 0.4% in the 3rd quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 58,143 shares of the company’s stock valued at $2,445,000 after buying an additional 253 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its holdings in Altria Group by 5.7% in the 3rd quarter. Resonant Capital Advisors LLC now owns 4,738 shares of the company’s stock worth $204,000 after buying an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MO. UBS Group increased their target price on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a report on Monday, April 8th. StockNews.com downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Sunday, April 14th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective on shares of Altria Group in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Altria Group has an average rating of “Hold” and a consensus price target of $46.90.

Insider Activity at Altria Group

In other news, VP Charles N. Whitaker sold 22,487 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total transaction of $988,303.65. Following the completion of the transaction, the vice president now directly owns 173,485 shares in the company, valued at approximately $7,624,665.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by insiders.

Altria Group Stock Performance

Shares of Altria Group stock opened at $44.29 on Thursday. Altria Group, Inc. has a one year low of $39.06 and a one year high of $46.67. The company has a market cap of $76.07 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 2.66 and a beta of 0.66. The business’s 50 day moving average price is $42.62 and its 200 day moving average price is $41.50.

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

Altria Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, March 25th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 8.85%. The ex-dividend date of this dividend was Friday, March 22nd. Altria Group’s payout ratio is presently 82.01%.

Altria Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.