Geneva Partners LLC Invests $1.10 Million in Altria Group, Inc. $MO

Geneva Partners LLC bought a new position in Altria Group, Inc. (NYSE:MO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 16,640 shares of the company’s stock, valued at approximately $1,099,000.

Other large investors have also added to or reduced their stakes in the company. Kercheville Advisors LLC boosted its holdings in shares of 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 lifted its position in 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 buying an additional 165 shares during the last quarter. Westside Investment Management Inc. boosted its stake in 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 in the last quarter. Generali Asset Management SPA SGR grew its position in 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, Zullo Investment Group Inc. raised 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 worth $488,000 after acquiring an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Altria Group Stock Down 0.7%

Shares of Altria Group stock opened at $68.98 on Monday. The company’s fifty day simple moving average is $62.33 and its two-hundred day simple moving average is $62.52. Altria Group, Inc. has a 12-month low of $52.82 and a 12-month high of $70.51. The firm has a market cap of $115.32 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 2.97 and a beta of 0.45.

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 net margin of 29.84% and a negative return on equity of 287.61%. Altria Group’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be issued a $1.06 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $4.24 annualized dividend and a yield of 6.1%. Altria Group’s dividend payout ratio (DPR) is 103.16%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MO. Argus raised shares of Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Stifel Nicolaus cut 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. UBS Group lifted their price objective on Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Citigroup boosted their target price on Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Finally, Barclays raised their price target on Altria Group from $57.00 to $63.00 and gave the stock an “underweight” rating in a research report on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.33.

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.