Zurcher Kantonalbank Zurich Cantonalbank Buys 50,513 Shares of Altria Group, Inc. $MO

Key Points

• Zurcher Kantonalbank increased its stake in Altria by 6%, buying 50,513 shares to hold 886,890 shares worth about $51.14 million (≈0.05% of the company).
• SVP Charles N. Whitaker sold 27,908 shares on March 5 at an average price of $67.57 for roughly $1.89 million, trimming his position by 13.37%.
• Altria announced a quarterly dividend of $1.06 (annualized $4.24) for a yield of ~6.6%, with record date March 25 and payment on April 30; the payout ratio is about 103%.

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Altria Group, Inc. (NYSE:MO - Free Report) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 886,890 shares of the company's stock after acquiring an additional 50,513 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of Altria Group worth $51,138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MO. Darwin Wealth Management LLC bought a new stake in shares of Altria Group during the 2nd quarter valued at $27,000. Creative Capital Management Investments LLC purchased a new position in shares of Altria Group during the 4th quarter valued at $29,000. EMC Capital Management purchased a new stake in Altria Group in the 3rd quarter worth $33,000. Elevation Wealth Partners LLC increased its stake in Altria Group by 79.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 630 shares of the company's stock worth $36,000 after buying an additional 278 shares in the last quarter. Finally, Gould Capital LLC purchased a new stake in Altria Group in the 3rd quarter worth $39,000. Institutional investors own 57.41% of the company's stock.

Insider Transactions at Altria Group

In other news, SVP Charles N. Whitaker sold 27,908 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $12,221,318.33. This represents a 13.37% decrease in their position. The sale 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

MO has been the topic of several research analyst reports. Stifel Nicolaus lowered their price objective on Altria Group from $72.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, January 30th. Citigroup increased their target price on Altria Group from $57.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, February 9th. UBS Group lifted their target price on Altria Group from $67.00 to $74.00 and gave the company a "buy" rating in a research note on Monday, March 9th. Argus raised Altria Group to a "hold" rating in a report on Tuesday, January 13th. Finally, Barclays upped their price target on Altria Group from $57.00 to $63.00 and gave the stock an "underweight" rating in a research note on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Altria Group currently has a consensus rating of "Hold" and an average target price of $65.88.

Altria Group Stock Up 0.7%

MO opened at $64.60 on Tuesday. The firm has a 50-day simple moving average of $66.59 and a two-hundred day simple moving average of $62.56. Altria Group, Inc. has a 52 week low of $54.70 and a 52 week high of $70.51. The company has a market capitalization of $107.97 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 2.57 and a beta of 0.41.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share 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 net margin of 29.84% and a negative return on equity of 287.61%. The company'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. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.61 earnings per share for the current year.

Altria Group Announces Dividend

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 paid a $1.06 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $4.24 dividend on an annualized basis and a yield of 6.6%. Altria Group's payout ratio is presently 103.16%.

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.

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