Wealthfront Advisers LLC Purchases 15,637 Shares of Altria Group, Inc. $MO

Wealthfront Advisers LLC increased its position in Altria Group, Inc. (NYSE:MO) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 304,810 shares of the company’s stock after buying an additional 15,637 shares during the quarter. Wealthfront Advisers LLC’s holdings in Altria Group were worth $20,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kercheville Advisors LLC lifted its stake in Altria Group by 3.7% in the third quarter. Kercheville Advisors LLC now owns 4,397 shares of the company’s stock worth $290,000 after purchasing an additional 156 shares during the last quarter. Founders Grove Wealth Partners LLC grew its stake in shares of Altria Group by 2.9% during the third quarter. Founders Grove Wealth Partners LLC now owns 5,781 shares of the company’s stock valued at $382,000 after buying an additional 165 shares during the last quarter. Westside Investment Management Inc. increased its holdings in shares of Altria Group by 4.5% in the second quarter. Westside Investment Management Inc. now owns 3,816 shares of the company’s stock worth $224,000 after buying an additional 166 shares during the period. Generali Asset Management SPA SGR lifted its stake in shares of Altria Group by 0.3% in the 3rd quarter. Generali Asset Management SPA SGR now owns 50,805 shares of the company’s stock valued at $3,356,000 after acquiring an additional 170 shares during the last quarter. Finally, Parcion Private Wealth LLC lifted its stake in shares of Altria Group by 1.6% in the 2nd quarter. Parcion Private Wealth LLC now owns 11,172 shares of the company’s stock valued at $655,000 after acquiring an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Trading Down 1.5%

Shares of MO opened at $64.43 on Tuesday. Altria Group, Inc. has a 1-year low of $52.40 and a 1-year high of $68.60. The firm’s 50-day moving average price is $59.80 and its 200-day moving average price is $62.02. The firm has a market capitalization of $108.16 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 3.60 and a beta of 0.47.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, January 29th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter last year, the business earned $1.30 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, research analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 30th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were given a dividend of $1.06 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $4.24 annualized dividend and a yield of 6.6%. Altria Group’s dividend payout ratio (DPR) is currently 103.16%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MO shares. Argus upgraded Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Citigroup raised their target price on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday. UBS Group upped their price target on shares of Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Stifel Nicolaus dropped their price target on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $63.67.

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.