Aberdeen Group plc Increases Stock Holdings in Altria Group, Inc. $MO

Key Points

• Aberdeen Group plc increased its stake in Altria Group, Inc. by 12.1%, owning a total of 237,793 shares valued at approximately $13.9 million.
• Altria recently reported a quarterly earnings per share (EPS) of $1.44, exceeding estimates, along with a 0.2% year-over-year growth in revenue at $5.29 billion.
• The company has announced a dividend increase to $1.06 per share, representing an annual yield of 6.5%, up from the previous $1.02.

Aberdeen Group plc increased its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 12.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,793 shares of the company's stock after buying an additional 25,750 shares during the period. Aberdeen Group plc's holdings in Altria Group were worth $13,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Jacobi Capital Management LLC lifted its position in shares of Altria Group by 0.6% during the 1st quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company's stock valued at $1,581,000 after buying an additional 168 shares in the last quarter. Bar Harbor Wealth Management lifted its holdings in Altria Group by 3.1% in the 2nd quarter. Bar Harbor Wealth Management now owns 5,656 shares of the company's stock valued at $332,000 after purchasing an additional 169 shares in the last quarter. Vista Investment Partners II LLC lifted its holdings in Altria Group by 4.2% in the 1st quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company's stock valued at $258,000 after purchasing an additional 174 shares in the last quarter. Wealth Alliance LLC lifted its holdings in Altria Group by 1.9% in the 1st quarter. Wealth Alliance LLC now owns 9,452 shares of the company's stock valued at $567,000 after purchasing an additional 174 shares in the last quarter. Finally, Patten & Patten Inc. TN lifted its holdings in Altria Group by 1.5% in the 1st quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company's stock valued at $723,000 after purchasing an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Stock Up 0.7%

NYSE MO opened at $65.41 on Wednesday. Altria Group, Inc. has a 52 week low of $48.86 and a 52 week high of $68.60. The business's fifty day simple moving average is $65.83 and its 200-day simple moving average is $61.32. The firm has a market cap of $109.87 billion, a PE ratio of 12.65, a P/E/G ratio of 3.61 and a beta of 0.55.

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

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 15th were given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend was Monday, September 15th. This is a positive change from Altria Group's previous quarterly dividend of $1.02. Altria Group's dividend payout ratio is 82.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. The Goldman Sachs Group raised their price objective on Altria Group from $65.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, October 1st. Stifel Nicolaus set a $72.00 price objective on Altria Group in a report on Thursday, August 21st. UBS Group upgraded Altria Group from a "sell" rating to a "neutral" rating and raised their price objective for the company from $47.00 to $59.00 in a report on Wednesday, July 2nd. Weiss Ratings restated a "buy (b)" rating on shares of Altria Group in a report on Wednesday, October 8th. Finally, Barclays raised their price objective on Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $62.11.

Altria Group 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.

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