Artisan Partners Limited Partnership Raises Holdings in Altria Group, Inc. (NYSE:MO)

Artisan Partners Limited Partnership boosted its stake in Altria Group, Inc. (NYSE:MO) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,619,963 shares of the company’s stock after purchasing an additional 66,197 shares during the period. Artisan Partners Limited Partnership owned about 0.10% of Altria Group worth $84,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Financial Life Planners bought a new position in shares of Altria Group in the fourth quarter worth approximately $25,000. True Wealth Design LLC grew its holdings in Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after acquiring an additional 462 shares during the last quarter. VSM Wealth Advisory LLC bought a new position in shares of Altria Group during the fourth quarter valued at about $29,000. Marshall Investment Management LLC purchased a new stake in shares of Altria Group during the fourth quarter worth about $32,000. Finally, Promus Capital LLC bought a new stake in shares of Altria Group in the fourth quarter worth about $33,000. Institutional investors own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on MO shares. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Morgan Stanley dropped their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $53.29.

Altria Group Trading Up 1.0 %

MO opened at $58.32 on Friday. The company has a market cap of $98.60 billion, a price-to-earnings ratio of 8.90, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. The stock has a fifty day simple moving average of $54.94 and a two-hundred day simple moving average of $53.57. Altria Group, Inc. has a 12-month low of $40.65 and a 12-month high of $59.67.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. On average, analysts predict that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 7.00%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

Altria Group Company Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.