Alliancebernstein L.P. Buys 1,953,966 Shares of Altria Group, Inc. $MO

Key Points

• Alliancebernstein L.P. significantly increased its stake in Altria Group, Inc. by 97.0%, now owning approximately 3,968,342 shares worth about $238 million.
• Altria Group announced a quarterly dividend of $1.06 per share, raising its annualized dividend to $4.24 and indicating a yield of 6.4%.
• Analysts have mixed ratings for Altria Group, with an average target price of $60.88 and two ratings classified as 'Buy', alongside several 'Hold' and 'Sell' recommendations.

Alliancebernstein L.P. grew its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 97.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,968,342 shares of the company's stock after purchasing an additional 1,953,966 shares during the period. Alliancebernstein L.P. owned 0.24% of Altria Group worth $238,180,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MO. Vista Investment Partners II LLC boosted its position in Altria Group by 4.2% during the first 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 period. Wealth Alliance LLC boosted 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 during the period. Patten & Patten Inc. TN grew its position in Altria Group by 1.5% in 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. Baron Silver Stevens Financial Advisors LLC increased its holdings 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 period. Finally, Ironwood Investment Counsel LLC raised its position in shares of Altria Group by 4.1% during the first quarter. Ironwood Investment Counsel LLC now owns 4,721 shares of the company's stock valued at $283,000 after buying an additional 187 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MO shares. Bank of America lifted their target price on Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Jefferies Financial Group initiated coverage on Altria Group in a research report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective on the stock. Needham & Company LLC raised Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley lifted their price target on shares of Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Two equities 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 stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $60.88.

Altria Group Trading Up 0.0%

MO stock traded up $0.02 during trading on Tuesday, hitting $65.79. The company had a trading volume of 3,002,938 shares, compared to its average volume of 8,965,237. The company has a fifty day moving average price of $62.70 and a two-hundred day moving average price of $59.85. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $68.60. The company has a market cap of $110.52 billion, a P/E ratio of 12.73, a P/E/G ratio of 3.58 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.21 billion. During the same period last year, the business earned $1.31 earnings per share. The business's revenue was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, analysts expect 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. Shareholders of record on Monday, September 15th will be paid a dividend of $1.06 per share. This is a positive change from Altria Group's previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Monday, September 15th. Altria Group's payout ratio is currently 78.92%.

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.