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

Artisan Partners Limited Partnership grew its position in shares of Altria Group, Inc. (NYSE:MO) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,619,963 shares of the company’s stock after buying an additional 66,197 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Altria Group were worth $84,708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of Altria Group in the 4th quarter worth $25,000. True Wealth Design LLC increased 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 buying an additional 462 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in Altria Group in the 4th quarter worth about $29,000. Marshall Investment Management LLC bought a new position in Altria Group during the 4th quarter valued at about $32,000. Finally, Promus Capital LLC purchased a new stake in shares of Altria Group during the 4th quarter valued at about $33,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $65.00 in a 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 on the stock in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $53.29.

Altria Group Price Performance

NYSE:MO opened at $58.32 on Friday. Altria Group, Inc. has a one year low of $40.65 and a one year high of $59.67. The business has a fifty day moving average price of $54.94 and a 200-day moving average price of $53.57. The firm has a market capitalization 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.

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

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be given a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.00%. Altria Group’s payout ratio is currently 62.29%.

Altria Group 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.