Pictet Asset Management Holding SA reduced its stake in Altria Group, Inc. (NYSE:MO – Free Report) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 783,497 shares of the company’s stock after selling 11,655 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Altria Group were worth $52,761,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Cortland Associates Inc. MO grew its position in Altria Group by 1.2% in the 3rd quarter. Cortland Associates Inc. MO now owns 11,079 shares of the company’s stock valued at $746,000 after acquiring an additional 131 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Altria Group by 5.8% during the first quarter. Cornerstone Planning Group LLC now owns 2,619 shares of the company’s stock valued at $191,000 after acquiring an additional 143 shares in the last quarter. Riverbend Wealth Management LLC boosted its holdings in shares of Altria Group by 1.8% in the third quarter. Riverbend Wealth Management LLC now owns 8,194 shares of the company’s stock valued at $552,000 after purchasing an additional 143 shares during the period. Angeles Wealth Management LLC boosted its holdings in shares of Altria Group by 1.3% in the second quarter. Angeles Wealth Management LLC now owns 11,239 shares of the company’s stock valued at $821,000 after purchasing an additional 146 shares during the period. Finally, Bernardo Wealth Planning LLC boosted its holdings in shares of Altria Group by 4.6% in the second quarter. Bernardo Wealth Planning LLC now owns 3,379 shares of the company’s stock valued at $243,000 after purchasing an additional 149 shares during the period. 57.41% of the stock is owned by institutional investors.
Key Altria Group News
Here are the key news stories impacting Altria Group this week:
- Positive Sentiment: Altria’s smokeable business posted a reported 64.5% margin; pricing strength and tax refunds have helped offset lower cigarette volumes and higher manufacturing costs, supporting profit growth. Can Altria’s 64.5% Smokeable Margin Sustain Profit Growth Ahead?
- Positive Sentiment: Commentary highlighted Altria’s roughly 5.7% dividend yield and resilient income profile, noting a $10,000 investment would generate about $568 annually at the cited payout. This may appeal to income-focused investors. Here’s How Much $10,000 in Altria Stock Pays You Each Year
- Positive Sentiment: Altria’s 42% stake in Cronos Group could offer longer-term upside if U.S. cannabis regulations change. The article also points to Cronos’ record results and international expansion, though any U.S. opportunity remains contingent on regulatory developments. One Regulator Could Soon Unlock Altria And Cronos’ Cannabis Fortune
- Neutral Sentiment: Altria appeared in general roundups of high-yield dividend stocks and portfolio strategies. These articles reinforce its visibility among income investors but do not report a new company-specific development. I’d Put $100 Into Each of These 3 Dividend Stocks and Lose the Password
- Negative Sentiment: Altria’s reliance on cigarettes leaves earnings exposed to ongoing volume declines; the cited margin strength depends partly on pricing and tax refunds to counter those declines and manufacturing costs. Can Altria’s 64.5% Smokeable Margin Sustain Profit Growth Ahead?
Insider Buying and Selling
In other Altria Group news, Director Kathryn McQuade purchased 1,500 shares of Altria Group stock in a transaction that occurred on Wednesday, September 9th. The stock was purchased at an average price of $67.62 per share, for a total transaction of $101,430.00. Following the transaction, the director directly owned 114,929 shares in the company, valued at $7,771,498.98. This trade represents a 1.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.10% of the stock is currently owned by company insiders.
Altria Group Price Performance
Shares of MO stock opened at $75.72 on Tuesday. The firm’s 50-day simple moving average is $71.52 and its 200-day simple moving average is $69.22. Altria Group, Inc. has a 1-year low of $54.70 and a 1-year high of $79.87. The firm has a market cap of $125.95 billion, a P/E ratio of 13.88, a PEG ratio of 2.65 and a beta of 0.43.
Altria Group (NYSE:MO – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.01. Altria Group had a negative return on equity of 330.66% and a net margin of 34.51%. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. Analysts expect that Altria Group, Inc. will post 5.70 earnings per share for the current fiscal year.
Altria Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Tuesday, September 15th were given a $1.11 dividend. This is a positive change from Altria Group’s previous quarterly dividend of $1.06. The ex-dividend date was Tuesday, September 15th. This represents a $4.44 annualized dividend and a yield of 5.9%. Altria Group’s payout ratio is currently 91.74%.
Analyst Upgrades and Downgrades
Several research analysts have commented on MO shares. BTIG Research began coverage on Altria Group in a report on Tuesday, July 21st. They set a “neutral” rating on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Altria Group in a research report on Monday, October 12th. Barclays upped their target price on Altria Group from $58.00 to $60.00 and gave the stock an “underweight” rating in a report on Monday, November 2nd. Freedom Broker raised Altria Group to a “hold” rating in a research report on Wednesday, September 16th. Finally, Citigroup raised their price target on Altria Group from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.67.
Altria Group Company Profile
Altria Group, Inc is a U.S.-based tobacco and nicotine company whose businesses focus primarily on the domestic market. Its products include cigarettes, smokeless tobacco, cigars, oral nicotine products and e-vapor products.
Altria’s portfolio includes Marlboro cigarettes, made by Philip Morris USA; Copenhagen and Skoal smokeless tobacco products, made by U.S. Smokeless Tobacco Company; and products from John Middleton and Helix Innovations. The company also owns NJOY, an e-vapor brand.
The company was established as Philip Morris Companies Inc and adopted the Altria name in 2003.
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