Altria Group, Inc. $MO Shares Acquired by Assetmark Inc.

Assetmark Inc. lifted its holdings in shares of Altria Group, Inc. (NYSE:MO) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,571,497 shares of the company’s stock after acquiring an additional 37,466 shares during the period. Assetmark Inc. owned 0.15% of Altria Group worth $169,873,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new position in Altria Group in the second quarter valued at approximately $27,000. Country Trust Bank boosted its holdings in shares of Altria Group by 400.0% in the 2nd quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after buying an additional 400 shares in the last quarter. Anfield Capital Management LLC boosted its holdings in shares of Altria Group by 334.7% in the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after buying an additional 415 shares in the last quarter. Winnow Wealth LLC purchased a new position in shares of Altria Group in the 2nd quarter valued at $35,000. Finally, Physician Wealth Advisors Inc. boosted its position in shares of Altria Group by 634.5% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 639 shares of the company’s stock valued at $42,000 after purchasing an additional 552 shares during the period. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Up 1.6%

Altria Group stock opened at $66.98 on Friday. The firm has a fifty day moving average of $60.23 and a 200-day moving average of $62.12. Altria Group, Inc. has a 52-week low of $52.40 and a 52-week high of $68.60. The firm has a market capitalization of $112.43 billion, a P/E ratio of 16.30, a PEG ratio of 3.63 and a beta of 0.47.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.02). The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.02 billion. Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.Altria Group’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 EPS. On average, research analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group announced that its Board of Directors has approved a stock repurchase plan on Thursday, October 30th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were paid a dividend of $1.06 per share. The ex-dividend date was Friday, December 26th. This represents a $4.24 annualized dividend and a yield of 6.3%. Altria Group’s payout ratio is presently 103.16%.

Analysts Set New Price Targets

Several brokerages have issued reports on MO. Citigroup raised their price objective on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday. UBS Group upped their price target on shares of Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Stifel Nicolaus decreased their price objective on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, Argus raised Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Altria Group presently has a consensus rating of “Hold” and a consensus price target of $63.67.

About Altria Group

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.