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

Key Points

• Pictet Asset Management increased its stake in Altria by 3.3% in Q4 to 798,147 shares valued at about $46.0 million, while institutional investors now own roughly 57.41% of the company (notable holders include Vanguard, Ameriprise, Northern Trust and BNY Mellon).
• Altria declared a quarterly dividend of $1.06 (annualized $4.24) implying a 6.2% yield, payable April 30 with record/ex-dividend date March 25, and the company’s payout ratio stands at 103.16%.
• The stock opened at $68.15 (market cap $113.9B) with a trailing PE of 16.58 and a 52‑week range of $54.70–$70.51, while analysts’ consensus target is $65.88 amid mixed ratings (5 Buy, 4 Hold, 2 Sell).

Pictet Asset Management Holding SA grew its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 798,147 shares of the company's stock after purchasing an additional 25,711 shares during the quarter. Pictet Asset Management Holding SA's holdings in Altria Group were worth $46,021,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Altria Group by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 160,980,626 shares of the company's stock valued at $9,282,143,000 after acquiring an additional 1,903,530 shares during the period. Ameriprise Financial Inc. boosted its position in Altria Group by 19.4% during the third quarter. Ameriprise Financial Inc. now owns 19,567,823 shares of the company's stock valued at $1,285,575,000 after purchasing an additional 3,172,753 shares in the last quarter. Northern Trust Corp boosted its position in Altria Group by 0.4% during the third quarter. Northern Trust Corp now owns 16,705,159 shares of the company's stock valued at $1,103,543,000 after purchasing an additional 59,189 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Altria Group by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 12,747,828 shares of the company's stock valued at $842,122,000 after purchasing an additional 132,846 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in Altria Group by 0.4% in the third quarter. Capital Research Global Investors now owns 12,131,644 shares of the company's stock valued at $801,412,000 after purchasing an additional 47,757 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Stock Performance

Shares of NYSE MO opened at $68.15 on Thursday. The company has a market cap of $113.90 billion, a PE ratio of 16.58, a P/E/G ratio of 2.64 and a beta of 0.41. The business has a 50-day simple moving average of $66.61 and a two-hundred day simple moving average of $62.61. Altria Group, Inc. has a fifty-two week low of $54.70 and a fifty-two week high of $70.51.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.02). The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. The business's revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. On average, sell-side analysts predict that Altria Group, Inc. will post 5.61 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group's payout ratio is currently 103.16%.

Insider Transactions at Altria Group

In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the transaction, the senior vice president owned 180,869 shares in the company, valued at approximately $12,221,318.33. This represents a 13.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

MO has been the subject of several analyst reports. Citigroup increased their price target 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. Bank of America lifted their price objective on shares of Altria Group from $72.00 to $73.00 and gave the stock a "buy" rating in a research report on Friday, April 10th. Barclays boosted their price objective on shares of Altria Group from $57.00 to $63.00 and gave the stock an "underweight" rating in a research note on Monday, February 23rd. Argus upgraded shares of Altria Group to a "hold" rating in a research note on Tuesday, January 13th. Finally, UBS Group lifted their price target on shares of Altria Group from $67.00 to $74.00 and gave the stock a "buy" rating in a report on Monday, March 9th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $65.88.

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.

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