Zurcher Kantonalbank Zurich Cantonalbank Acquires 175,973 Shares of Altria Group, Inc. (NYSE:MO)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Altria Group, Inc. (NYSE:MO) by 27.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 811,748 shares of the company’s stock after acquiring an additional 175,973 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Altria Group were worth $42,446,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aviance Capital Partners LLC grew its position in shares of Altria Group by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock worth $2,060,000 after buying an additional 191 shares during the last quarter. Enterprise Financial Services Corp grew its position in shares of Altria Group by 4.0% in the 4th quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company’s stock worth $264,000 after buying an additional 194 shares during the last quarter. Horst & Graben Wealth Management LLC grew its position in shares of Altria Group by 1.5% in the 4th quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock worth $681,000 after buying an additional 198 shares during the last quarter. Fragasso Financial Advisors Inc grew its position in shares of Altria Group by 3.3% in the 4th quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock worth $330,000 after buying an additional 199 shares during the last quarter. Finally, Ridgecrest Wealth Partners LLC grew its position in Altria Group by 3.5% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock worth $299,000 after purchasing an additional 200 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Trading Up 2.1 %

Shares of NYSE MO opened at $58.98 on Tuesday. Altria Group, Inc. has a 12 month low of $40.65 and a 12 month high of $59.67. The company has a 50 day simple moving average of $53.29 and a two-hundred day simple moving average of $53.16. The stock has a market cap of $99.72 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. Analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 6.92%. The ex-dividend date is Tuesday, March 25th. Altria Group’s payout ratio is 62.29%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Morgan Stanley dropped their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.29.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.