1832 Asset Management L.P. Takes $88.47 Million Position in Altria Group, Inc. $MO

Key Points

• 1832 Asset Management L.P. has taken a significant $88.47 million position in Altria Group, purchasing approximately 1.47 million shares, amounting to 0.09% of the company.
• Altria Group recently increased its quarterly dividend to $1.06 per share, representing a dividend yield of 6.3% and marking an increase from the previous dividend of $1.02.
• The company's latest earnings report revealed $1.44 EPS, surpassing estimates and showing a slight revenue increase year-over-year despite a negative return on equity of 295.26%.

1832 Asset Management L.P. purchased a new position in shares of Altria Group, Inc. (NYSE:MO - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,474,004 shares of the company's stock, valued at approximately $88,470,000. 1832 Asset Management L.P. owned 0.09% of Altria Group as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in MO. NorthCrest Asset Manangement LLC increased its holdings in Altria Group by 88.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 8,536 shares of the company's stock worth $512,000 after purchasing an additional 4,007 shares in the last quarter. Brighton Jones LLC increased its holdings in Altria Group by 64.7% during the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company's stock worth $926,000 after purchasing an additional 6,954 shares in the last quarter. GAMMA Investing LLC increased its holdings in Altria Group by 17.8% during the 1st quarter. GAMMA Investing LLC now owns 36,028 shares of the company's stock worth $2,162,000 after purchasing an additional 5,440 shares in the last quarter. Patron Partners LLC increased its holdings in Altria Group by 12.2% during the 1st quarter. Patron Partners LLC now owns 12,217 shares of the company's stock worth $733,000 after purchasing an additional 1,325 shares in the last quarter. Finally, Simplicity Wealth LLC increased its holdings in Altria Group by 152.2% during the 1st quarter. Simplicity Wealth LLC now owns 58,268 shares of the company's stock worth $3,497,000 after purchasing an additional 35,168 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Trading Down 0.1%

Altria Group stock opened at $67.6150 on Friday. Altria Group, Inc. has a 12 month low of $48.86 and a 12 month high of $68.60. The business's 50 day simple moving average is $61.07 and its 200 day simple moving average is $58.76. The company has a market cap of $113.59 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 3.64 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The business's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, equities research analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 15th will be given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.3%. This is a boost from Altria Group's previous quarterly dividend of $1.02. The ex-dividend date is Monday, September 15th. Altria Group's dividend payout ratio (DPR) is 78.92%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MO shares. Barclays boosted their price objective on Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Citigroup upped their target price on Altria Group from $52.00 to $55.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Stifel Nicolaus upped their target price on Altria Group from $63.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Jefferies Financial Group began coverage on Altria Group in a report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 target price for the company. Finally, Bank of America upped their target price on Altria Group from $64.00 to $72.00 and gave the company a "buy" rating in a report on Friday. Two 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $60.00.

Altria Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.