WBI Investments LLC Increases Stake in Altria Group, Inc. $MO

WBI Investments LLC lifted its position in Altria Group, Inc. (NYSE:MO) by 33.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 58,022 shares of the company’s stock after buying an additional 14,555 shares during the period. Altria Group accounts for 1.0% of WBI Investments LLC’s portfolio, making the stock its 12th biggest position. WBI Investments LLC’s holdings in Altria Group were worth $3,833,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Kercheville Advisors LLC increased its position in Altria Group by 3.7% during the 3rd quarter. Kercheville Advisors LLC now owns 4,397 shares of the company’s stock valued at $290,000 after purchasing an additional 156 shares during the period. Founders Grove Wealth Partners LLC lifted its position in shares of Altria Group by 2.9% in the 3rd quarter. Founders Grove Wealth Partners LLC now owns 5,781 shares of the company’s stock worth $382,000 after purchasing an additional 165 shares during the period. Generali Asset Management SPA SGR lifted its position 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 worth $3,356,000 after purchasing an additional 170 shares during the period. Zullo Investment Group Inc. boosted its stake in shares of Altria Group by 2.4% during the third quarter. Zullo Investment Group Inc. now owns 7,386 shares of the company’s stock valued at $488,000 after purchasing an additional 175 shares in the last quarter. Finally, Optimist Retirement Group LLC boosted its stake in shares of Altria Group by 0.5% during the third quarter. Optimist Retirement Group LLC now owns 35,577 shares of the company’s stock valued at $2,350,000 after purchasing an additional 178 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Down 0.9%

NYSE MO opened at $66.96 on Wednesday. Altria Group, Inc. has a 52 week low of $52.82 and a 52 week high of $70.51. The company has a 50 day moving average price of $64.68 and a 200 day moving average price of $62.59. The firm has a market cap of $111.94 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 2.88 and a beta of 0.45.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a net margin of 29.84% and a negative return on equity of 287.61%. During the same quarter last year, the company earned $1.30 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be given a $1.06 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.3%. Altria Group’s dividend payout ratio (DPR) is presently 103.16%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MO shares. UBS Group boosted their price objective on shares of Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Argus raised Altria Group to a “hold” rating in a research report on Tuesday, January 13th. Barclays lifted their price target on Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. Jefferies Financial Group boosted their price target on Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 4th. Finally, Citigroup raised their price objective on Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $65.11.

Insider Buying and Selling at Altria Group

In related news, SVP Charles N. Whitaker sold 27,908 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total transaction of $1,885,743.56. Following the transaction, the senior vice president directly owned 180,869 shares in the company, valued at $12,221,318.33. The trade was a 13.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by insiders.

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.