Altria Group, Inc. $MO Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its stake in shares of Altria Group, Inc. (NYSE:MO) by 13.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 110,277 shares of the company’s stock after buying an additional 12,888 shares during the quarter. Fisher Asset Management LLC’s holdings in Altria Group were worth $7,285,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Journey Strategic Wealth LLC lifted its stake in Altria Group by 47.8% in the third quarter. Journey Strategic Wealth LLC now owns 21,784 shares of the company’s stock worth $1,439,000 after acquiring an additional 7,043 shares during the last quarter. Geneva Partners LLC purchased a new stake in shares of Altria Group during the 3rd quarter worth $1,099,000. PKS Advisory Services LLC grew its stake in shares of Altria Group by 7.9% during the third quarter. PKS Advisory Services LLC now owns 10,083 shares of the company’s stock worth $666,000 after purchasing an additional 739 shares in the last quarter. RFP Financial Group LLC increased its holdings in Altria Group by 3.0% in the third quarter. RFP Financial Group LLC now owns 6,611 shares of the company’s stock valued at $431,000 after buying an additional 190 shares during the last quarter. Finally, Ted Buchan & Co raised its stake in Altria Group by 6.9% in the third quarter. Ted Buchan & Co now owns 17,818 shares of the company’s stock valued at $1,177,000 after buying an additional 1,148 shares in the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Down 1.6%

MO opened at $67.06 on Friday. Altria Group, Inc. has a 52 week low of $52.82 and a 52 week high of $70.51. The business’s 50 day moving average is $63.07 and its two-hundred day moving average is $62.64. The firm has a market cap of $112.12 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 2.93 and a beta of 0.45.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.Altria Group’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS. Equities analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be paid a $1.06 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 dividend on an annualized basis and a yield of 6.3%. Altria Group’s payout ratio is currently 103.16%.

Wall Street Analyst Weigh In

MO has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Barclays upped their price target on Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. UBS Group raised their price objective on shares of Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Argus upgraded shares of Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Finally, Citigroup increased their target price on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $64.33.

Altria Group Company Profile

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.