Abound Wealth Management Buys 6,229 Shares of Altria Group, Inc. $MO

Key Points

• Abound Wealth Management has significantly increased its stake in Altria Group by acquiring 6,229 shares during the 2nd quarter, raising its total holdings to 6,314 shares worth approximately $370,000.
• Altria Group recently announced a quarterly dividend increase from $1.02 to $1.06 per share, resulting in an annualized dividend yield of 6.5%.
• The company's latest quarterly earnings report showed an EPS of $1.44, surpassing analysts' expectations, with revenue of $5.29 billion up slightly from the previous year.

Abound Wealth Management lifted its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 7,328.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,314 shares of the company's stock after acquiring an additional 6,229 shares during the quarter. Abound Wealth Management's holdings in Altria Group were worth $370,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in MO. 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 worth $1,581,000 after purchasing an additional 168 shares during the last quarter. Vista Investment Partners II LLC lifted its position in shares of Altria Group by 4.2% during the 1st quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company's stock worth $258,000 after purchasing an additional 174 shares during the last quarter. Wealth Alliance LLC lifted its position in shares of Altria Group by 1.9% during the 1st quarter. Wealth Alliance LLC now owns 9,452 shares of the company's stock worth $567,000 after purchasing an additional 174 shares during the last quarter. Patten & Patten Inc. TN lifted its position in shares of Altria Group by 1.5% during the 1st quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company's stock worth $723,000 after purchasing an additional 174 shares during the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC lifted its position in shares of Altria Group by 2.7% during the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company's stock worth $406,000 after purchasing an additional 175 shares during the last quarter. Institutional investors own 57.41% of the company's stock.

Altria Group Stock Performance

Altria Group stock opened at $64.85 on Friday. Altria Group, Inc. has a 52 week low of $48.86 and a 52 week high of $68.60. The stock has a market capitalization of $108.94 billion, a P/E ratio of 12.54, a PEG ratio of 3.49 and a beta of 0.59. The stock has a 50-day simple moving average of $63.89 and a 200 day simple moving average of $60.43.

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 analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.21 billion. During the same quarter last year, the company posted $1.31 earnings per share. Altria Group's quarterly revenue was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Research analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.06 per share. This is a boost from Altria Group's previous quarterly dividend of $1.02. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Monday, September 15th. Altria Group's dividend payout ratio is presently 82.01%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Barclays boosted their price objective on Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Stifel Nicolaus set a $72.00 price target on Altria Group in a report on Thursday, August 21st. Bank of America upped their price target on Altria Group from $64.00 to $72.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Finally, Jefferies Financial Group started coverage on Altria Group in a report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price target for the company. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $60.88.

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.

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