LSV Asset Management Acquires 58,076 Shares of Altria Group, Inc. $MO

LSV Asset Management lifted its stake in Altria Group, Inc. (NYSE:MO) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,315,676 shares of the company’s stock after acquiring an additional 58,076 shares during the quarter. Altria Group accounts for about 0.8% of LSV Asset Management’s investment portfolio, making the stock its 24th largest holding. LSV Asset Management owned 0.32% of Altria Group worth $351,154,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MO. Darwin Wealth Management LLC bought a new stake in Altria Group during the second quarter valued at about $27,000. Country Trust Bank grew its position in shares of Altria Group by 400.0% during 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 in the last quarter. Anfield Capital Management LLC grew its holdings in Altria Group by 334.7% during the 2nd quarter. Anfield Capital Management LLC now owns 539 shares of the company’s stock valued at $32,000 after buying an additional 415 shares in the last quarter. Winnow Wealth LLC bought a new stake in shares of Altria Group in the 2nd quarter worth about $35,000. Finally, WFA of San Diego LLC purchased a new stake in shares of Altria Group during the 2nd quarter valued at about $39,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Up 2.4%

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 firm has a 50-day moving average price of $60.06 and a 200 day moving average price of $62.08. The stock has a market capitalization of $110.65 billion, a P/E ratio of 16.04, a P/E/G ratio of 3.55 and a beta of 0.47.

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

Altria Group declared that its board has authorized a stock repurchase plan on Thursday, October 30th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a dividend of $1.06 per share. The ex-dividend date was Friday, December 26th. This represents a $4.24 dividend on an annualized basis and a yield of 6.4%. Altria Group’s dividend payout ratio (DPR) is 103.16%.

Wall Street Analyst Weigh In

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

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.