1,015,581 Shares in Altria Group, Inc. $MO Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP purchased 1,015,581 Altria shares worth approximately $42.9 million, while institutional investors and hedge funds collectively own 57.41% of the company.
• Altria reported quarterly EPS of $1.48, slightly below the $1.50 consensus, while revenue of $5.36 billion edged above expectations and increased 1.2% year over year.
• The company raised its quarterly dividend to $1.11 per share, or $4.44 annually, yielding about 6.6%; analysts maintain a consensus “Hold” rating with a $70.11 price target.

Corient Private Wealth LP purchased a new stake in Altria Group, Inc. (NYSE:MO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,015,581 shares of the company's stock, valued at approximately $42,930,000. Corient Private Wealth LP owned approximately 0.06% of Altria Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. GQG Partners LLC purchased a new position in shares of Altria Group during the second quarter valued at approximately $1,806,782,000. Bank of America Corp DE purchased a new stake in Altria Group in the 2nd quarter valued at $1,104,566,000. Legal & General Group Plc purchased a new stake in Altria Group in the 2nd quarter valued at $631,606,000. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $3,777,931,000 after acquiring an additional 6,265,780 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Altria Group during the 2nd quarter valued at $349,743,000. Institutional investors and hedge funds own 57.41% of the company's stock.

Altria Group Trading Down 2.1%

MO stock opened at $67.66 on Friday. The stock has a market cap of $112.97 billion, a P/E ratio of 14.27, a P/E/G ratio of 2.45 and a beta of 0.46. The stock's fifty day simple moving average is $70.11 and its two-hundred day simple moving average is $68.95. Altria Group, Inc. has a 1-year low of $54.70 and a 1-year high of $77.06.

Altria Group (NYSE:MO - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). The business had revenue of $5.36 billion for the quarter, compared to analysts' expectations of $5.35 billion. Altria Group had a net margin of 33.99% and a negative return on equity of 315.29%. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.44 earnings per share. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. As a group, analysts forecast that Altria Group, Inc. will post 5.67 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Tuesday, September 15th will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 6.6%. This is a boost from Altria Group's previous quarterly dividend of $1.06. The ex-dividend date is Tuesday, September 15th. Altria Group's dividend payout ratio is 89.45%.

Analyst Upgrades and Downgrades

MO has been the subject of several recent analyst reports. Barclays reduced their target price on shares of Altria Group from $64.00 to $58.00 and set an "underweight" rating for the company in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Altria Group from $60.00 to $66.00 and gave the company a "hold" rating in a research report on Monday, May 4th. UBS Group boosted their price target on shares of Altria Group from $76.00 to $79.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Citigroup upped their price objective on shares of Altria Group from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Altria Group in a research note on Tuesday, July 14th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Altria Group has a consensus rating of "Hold" and a consensus price target of $70.11.

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.

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