AlTi Global Inc. Decreases Holdings in Altria Group, Inc. $MO

Key Points

• AlTi Global Inc. reduced its stake in Altria Group, Inc. by 36.0%, now holding 103,865 shares valued at $6,288,000 following a sale of 58,482 shares.
• Altria recently declared a quarterly dividend of $1.06 per share, representing a yield of 6.3%, an increase from the previous dividend of $1.02.
• The company reported a net revenue of $5.29 billion for the last quarter, surpassing analysts' expectations and achieving a year-over-year revenue growth of 0.2%.

AlTi Global Inc. lessened its position in Altria Group, Inc. (NYSE:MO - Free Report) by 36.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,865 shares of the company's stock after selling 58,482 shares during the quarter. AlTi Global Inc.'s holdings in Altria Group were worth $6,288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MO. Inlight Wealth Management LLC bought a new position in Altria Group in the first quarter valued at $31,000. Sierra Ocean LLC grew its stake in shares of Altria Group by 226.3% during the first quarter. Sierra Ocean LLC now owns 509 shares of the company's stock valued at $31,000 after buying an additional 353 shares during the last quarter. Pinney & Scofield Inc. bought a new position in shares of Altria Group during the fourth quarter valued at about $33,000. TruNorth Capital Management LLC grew its stake in shares of Altria Group by 51.8% during the first quarter. TruNorth Capital Management LLC now owns 636 shares of the company's stock valued at $38,000 after buying an additional 217 shares during the last quarter. Finally, Menard Financial Group LLC bought a new position in shares of Altria Group during the fourth quarter valued at about $39,000. Institutional investors own 57.41% of the company's stock.

Altria Group Stock Down 0.1%

Shares of Altria Group stock traded down $0.07 during trading on Friday, reaching $66.52. 5,935,439 shares of the stock were exchanged, compared to its average volume of 7,133,504. The stock's fifty day moving average is $62.56 and its 200 day moving average is $59.70. The firm has a market cap of $111.74 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 3.58 and a beta of 0.59. Altria Group, Inc. has a 1 year low of $48.86 and a 1 year high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data 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 net margin of 37.24% and a negative return on equity of 295.26%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.21 billion. During the same period last year, the business posted $1.31 earnings per share. Altria Group'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. Equities analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 15th will be issued a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 6.4%. 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 Analyst Weigh In

A number of brokerages have recently issued reports on MO. Needham & Company LLC raised Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Jefferies Financial Group began coverage on Altria Group in a research note on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective on the stock. Barclays raised their price objective on Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Stifel Nicolaus set a $72.00 target price on shares of Altria Group in a report on Thursday, August 21st. Finally, UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and increased their target price for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently 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.