Pictet Asset Management Holding SA Boosts Stock Position in Altria Group, Inc. $MO

Pictet Asset Management Holding SA grew its position in Altria Group, Inc. (NYSE:MO) by 3.3% during the fourth quarter, Holdings Channel reports. The firm owned 798,147 shares of the company’s stock after acquiring an additional 25,711 shares during the period. Pictet Asset Management Holding SA’s holdings in Altria Group were worth $46,021,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Altria Group by 64.7% in the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock worth $926,000 after buying an additional 6,954 shares during the period. Sivia Capital Partners LLC lifted its stake in Altria Group by 86.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 6,361 shares of the company’s stock valued at $373,000 after acquiring an additional 2,946 shares during the period. Schnieders Capital Management LLC. lifted its stake in Altria Group by 6.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 9,630 shares of the company’s stock valued at $565,000 after acquiring an additional 618 shares during the period. Gamco Investors INC. ET AL purchased a new stake in shares of Altria Group in the 2nd quarter valued at $346,000. Finally, AXA S.A. purchased a new stake in shares of Altria Group in the 2nd quarter valued at $5,752,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Price Performance

NYSE:MO opened at $68.15 on Thursday. The company has a 50 day moving average price of $66.61 and a 200-day moving average price of $62.61. Altria Group, Inc. has a 1-year low of $54.70 and a 1-year high of $70.51. The firm has a market cap of $113.90 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 2.64 and a beta of 0.41.

Altria Group (NYSE:MO) last announced its quarterly 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). The firm had revenue of $5.08 billion for 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%.The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $1.30 earnings per share. On average, sell-side analysts anticipate that Altria Group, Inc. will post 5.61 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be given a $1.06 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.2%. Altria Group’s dividend payout ratio is 103.16%.

Insider Activity

In other news, SVP Charles N. Whitaker sold 27,908 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the sale, the senior vice president directly owned 180,869 shares in the company, valued at $12,221,318.33. This trade represents a 13.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MO. Barclays raised their target price on shares of Altria Group from $57.00 to $63.00 and gave the stock an “underweight” rating in a report on Monday, February 23rd. Stifel Nicolaus lowered their price target on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, January 30th. UBS Group increased their price target on Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Jefferies Financial Group lifted their price objective on Altria Group from $47.00 to $50.00 and gave the company an “underperform” rating in a research note on Wednesday, March 4th. Finally, Citigroup boosted their price objective on Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $65.88.

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.