Wealthfront Advisers LLC Increases Stake in Altria Group Inc (NYSE:MO)

Wealthfront Advisers LLC increased its holdings in Altria Group Inc (NYSE:MO) by 22.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 60,835 shares of the company’s stock after acquiring an additional 11,102 shares during the period. Wealthfront Advisers LLC’s holdings in Altria Group were worth $3,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its position in Altria Group by 6.6% during the 3rd quarter. State Street Corp now owns 78,832,176 shares of the company’s stock valued at $3,286,972,000 after buying an additional 4,850,215 shares during the period. Nuveen Asset Management LLC boosted its position in Altria Group by 584.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 8,679,362 shares of the company’s stock valued at $410,968,000 after buying an additional 7,411,523 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Altria Group by 4.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,332,848 shares of the company’s stock valued at $299,913,000 after buying an additional 281,053 shares during the period. First Trust Advisors LP boosted its position in Altria Group by 27.7% during the 3rd quarter. First Trust Advisors LP now owns 3,187,487 shares of the company’s stock valued at $130,368,000 after buying an additional 691,381 shares during the period. Finally, Rhumbline Advisers boosted its position in Altria Group by 2.2% during the 3rd quarter. Rhumbline Advisers now owns 3,063,078 shares of the company’s stock valued at $125,280,000 after buying an additional 65,371 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE MO opened at $51.09 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.27 and a debt-to-equity ratio of 2.53. Altria Group Inc has a 12 month low of $39.30 and a 12 month high of $57.88. The firm has a market capitalization of $95.31 billion, a PE ratio of 54.35, a price-to-earnings-growth ratio of 1.81 and a beta of 0.44. The firm has a fifty day simple moving average of $50.44 and a two-hundred day simple moving average of $47.01.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.04. Altria Group had a net margin of 7.00% and a return on equity of 56.17%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same period in the prior year, the business earned $1.08 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts predict that Altria Group Inc will post 4.21 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were issued a $0.84 dividend. The ex-dividend date was Tuesday, December 24th. This represents a $3.36 annualized dividend and a yield of 6.58%. Altria Group’s dividend payout ratio (DPR) is presently 84.21%.

Several equities research analysts have weighed in on the stock. Bank of America set a $54.00 price target on shares of Altria Group and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus reissued a “buy” rating on shares of Altria Group in a research report on Tuesday, October 15th. Citigroup raised shares of Altria Group from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Monday, December 2nd. Argus set a $60.00 price target on shares of Altria Group and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Piper Jaffray Companies set a $49.00 price target on shares of Altria Group and gave the company a “hold” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Altria Group has a consensus rating of “Hold” and a consensus target price of $54.86.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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Institutional Ownership by Quarter for Altria Group (NYSE:MO)

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