Pictet Asset Management Holding SA Sells 28,893 Shares of Altria Group, Inc. $MO

Pictet Asset Management Holding SA cut its stake in Altria Group, Inc. (NYSE:MO) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 769,254 shares of the company’s stock after selling 28,893 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Altria Group were worth $50,763,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MO. Darwin Wealth Management LLC bought a new position in Altria Group in the 2nd quarter valued at about $27,000. Navalign LLC bought a new stake in shares of Altria Group during the fourth quarter worth approximately $28,000. Creative Capital Management Investments LLC acquired a new position in shares of Altria Group in the fourth quarter valued at approximately $29,000. Hughes Financial Services LLC grew its position in shares of Altria Group by 62.9% in the fourth quarter. Hughes Financial Services LLC now owns 510 shares of the company’s stock valued at $29,000 after purchasing an additional 197 shares during the last quarter. Finally, Miller Capital Partners Inc. bought a new position in shares of Altria Group during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MO. Wall Street Zen cut Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Barclays upped their price objective on Altria Group from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Friday, May 15th. Citigroup lifted their target price on Altria Group from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. UBS Group boosted their target price on shares of Altria Group from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Bank of America upped their price target on shares of Altria Group from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Altria Group presently has an average rating of “Hold” and an average price target of $70.44.

Insider Transactions at Altria Group

In related news, Director Ennis Debra J. Kelly sold 5,790 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total transaction of $418,327.50. Following the completion of the sale, the director owned 73,809 shares of the company’s stock, valued at $5,332,700.25. This represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ellen R. Strahlman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total transaction of $145,120.00. Following the sale, the director directly owned 25,102 shares of the company’s stock, valued at $1,821,401.12. This represents a 7.38% decrease in their position. The SEC filing for this sale provides additional information. 0.10% of the stock is owned by insiders.

Altria Group Trading Up 0.4%

Shares of MO stock opened at $74.10 on Tuesday. The stock has a market cap of $123.74 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 2.76 and a beta of 0.46. Altria Group, Inc. has a 1 year low of $54.70 and a 1 year high of $74.56. The stock has a 50 day simple moving average of $70.47 and a 200 day simple moving average of $65.95.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.58 billion. Altria Group had a negative return on equity of 298.69% and a net margin of 34.34%.The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.23 EPS. Altria Group has set its FY 2026 guidance at 5.560-5.72 EPS. Analysts forecast that Altria Group, Inc. will post 5.68 EPS for the current year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Monday, June 15th. Altria Group’s payout ratio is 88.70%.

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.