HighTower Advisors LLC Buys 47,340 Shares of Altria Group, Inc. $MO

HighTower Advisors LLC raised its stake in shares of Altria Group, Inc. (NYSE:MO) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,704,860 shares of the company’s stock after acquiring an additional 47,340 shares during the period. HighTower Advisors LLC owned about 0.16% of Altria Group worth $178,680,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MO. Kercheville Advisors LLC grew its position in Altria Group by 3.7% in the 3rd quarter. Kercheville Advisors LLC now owns 4,397 shares of the company’s stock worth $290,000 after purchasing an additional 156 shares in the last quarter. Founders Grove Wealth Partners LLC grew its holdings in shares of Altria Group by 2.9% in the third quarter. Founders Grove Wealth Partners LLC now owns 5,781 shares of the company’s stock valued at $382,000 after acquiring an additional 165 shares in the last quarter. Westside Investment Management Inc. increased its position in shares of Altria Group by 4.5% during the second quarter. Westside Investment Management Inc. now owns 3,816 shares of the company’s stock valued at $224,000 after acquiring an additional 166 shares during the last quarter. Generali Asset Management SPA SGR increased its position in shares of Altria Group by 0.3% during the third 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 holdings in Altria Group by 1.6% during the second quarter. Parcion Private Wealth LLC now owns 11,172 shares of the company’s stock worth $655,000 after acquiring an additional 172 shares during the period. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

Shares of MO stock opened at $67.23 on Friday. The stock has a market capitalization of $112.85 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 3.71 and a beta of 0.47. The company’s fifty day simple moving average is $60.42 and its two-hundred day simple moving average is $62.19. Altria Group, Inc. has a 1 year low of $52.46 and a 1 year high of $68.60.

Altria Group (NYSE:MO) last announced its quarterly 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%. 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 firm posted $1.30 earnings per share. Altria Group’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

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

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date was Friday, December 26th. Altria Group’s dividend payout ratio (DPR) is 103.16%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. UBS Group raised their target price on Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Stifel Nicolaus reduced 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. Argus upgraded shares of Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Finally, Citigroup lifted their price target on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Five 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.com, Altria Group has a consensus 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.