Pictet Asset Management Holding SA Sells 28,893 Shares of Altria Group, Inc. $MO

Pictet Asset Management Holding SA lowered its stake in Altria Group, Inc. (NYSE:MO) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 769,254 shares of the company’s stock after selling 28,893 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Altria Group were worth $50,763,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its position in Altria Group by 10.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 65,516,916 shares of the company’s stock worth $3,777,931,000 after purchasing an additional 6,265,780 shares in the last quarter. Marshall Wace LLP lifted its stake in Altria Group by 286.7% in the 3rd quarter. Marshall Wace LLP now owns 4,479,699 shares of the company’s stock valued at $295,929,000 after purchasing an additional 3,321,262 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Altria Group by 19.4% in the third quarter. Ameriprise Financial Inc. now owns 19,567,823 shares of the company’s stock valued at $1,285,575,000 after buying an additional 3,172,753 shares in the last quarter. SG Americas Securities LLC boosted its position in Altria Group by 438.6% in the fourth quarter. SG Americas Securities LLC now owns 3,637,678 shares of the company’s stock valued at $209,749,000 after buying an additional 2,962,270 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Altria Group by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 160,980,626 shares of the company’s stock worth $9,282,143,000 after buying an additional 1,903,530 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Altria Group Stock Up 0.4%

Shares of Altria Group stock opened at $74.10 on Tuesday. The stock has a market cap of $123.74 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 2.76 and a beta of 0.46. Altria Group, Inc. has a twelve month low of $54.70 and a twelve month high of $74.56. The company’s fifty day moving average is $70.47 and its 200 day moving average is $65.95.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, April 30th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. Altria Group had a negative return on equity of 298.69% and a net margin of 34.34%.The firm had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.58 billion. During the same period in the previous year, the business earned $1.23 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Altria Group has set its FY 2026 guidance at 5.560-5.72 EPS. As a group, equities analysts anticipate that Altria Group, Inc. will post 5.68 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be issued a $1.06 dividend. The ex-dividend date is Monday, June 15th. This represents a $4.24 annualized dividend and a yield of 5.7%. Altria Group’s dividend payout ratio is presently 88.70%.

Analyst Ratings Changes

Several research analysts have recently issued reports on MO shares. Jefferies Financial Group upped their price target on shares of Altria Group from $50.00 to $60.00 and gave the stock an “underperform” rating in a report on Wednesday, May 27th. The Goldman Sachs Group restated a “buy” rating and set a $77.00 price objective on shares of Altria Group in a research report on Thursday, April 30th. Wall Street Zen cut Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Citigroup increased their target price on Altria Group from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Finally, Morgan Stanley set a $71.00 price target on Altria Group in a research note on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Altria Group has an average rating of “Hold” and a consensus price target of $70.44.

Insider Buying and Selling

In other news, Director Ellen R. Strahlman sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $72.56, for a total value of $145,120.00. Following the transaction, the director owned 25,102 shares in the company, valued at approximately $1,821,401.12. The trade was a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ennis Debra J. Kelly sold 5,790 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total transaction of $418,327.50. Following the completion of the sale, the director directly owned 73,809 shares in the company, valued at approximately $5,332,700.25. This represents a 7.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.10% of the company’s stock.

Altria Group Company 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.