LSV Asset Management Increases Stock Position in Altria Group, Inc. $MO

LSV Asset Management raised its holdings in shares of Altria Group, Inc. (NYSE:MO) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,315,676 shares of the company’s stock after purchasing an additional 58,076 shares during the quarter. Altria Group accounts for 0.8% of LSV Asset Management’s portfolio, making the stock its 24th largest position. LSV Asset Management’s holdings in Altria Group were worth $351,154,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Darwin Wealth Management LLC acquired a new position in Altria Group in the second quarter worth approximately $27,000. Country Trust Bank raised its position in shares of Altria Group by 400.0% in the second quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Anfield Capital Management LLC raised its holdings in Altria Group by 334.7% in the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock worth $32,000 after acquiring an additional 415 shares during the period. Winnow Wealth LLC acquired a new position in Altria Group during the 2nd quarter worth $35,000. Finally, WFA of San Diego LLC acquired a new stake in Altria Group in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MO. Argus raised Altria Group to a “hold” rating in a report on Tuesday, January 13th. Stifel Nicolaus lowered their target price on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, January 30th. UBS Group boosted their target price on Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Citigroup upped their price target on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.67.

Altria Group Stock Performance

NYSE:MO opened at $65.92 on Thursday. Altria Group, Inc. has a 52-week low of $52.40 and a 52-week high of $68.60. The company has a market cap of $110.65 billion, a PE ratio of 16.04, a PEG ratio of 3.55 and a beta of 0.47. The stock has a 50-day simple moving average of $60.06 and a 200 day simple moving average of $62.08.

Altria Group (NYSE:MO) last posted its quarterly earnings results 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 firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The business’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $1.30 earnings per share. On average, research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group declared that its board has approved a stock buyback program on Thursday, October 30th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend was Friday, December 26th. Altria Group’s dividend payout ratio is currently 103.16%.

Altria Group 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.