Altria Group, Inc. $MO Holdings Raised by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its Altria stake by 3.6% in the second quarter, bringing its holdings to 494,560 shares valued at approximately $35.6 million. Institutional investors collectively own 57.41% of Altria’s stock.
• Analyst sentiment remains mixed, with five Buy, five Hold, and two Sell ratings; the consensus rating is Hold with an average price target of $70.11.
• Altria raised its quarterly dividend from $1.06 to $1.11 per share, equating to a $4.44 annualized payout and a 6.4% yield. The company’s latest quarterly earnings slightly missed estimates, while revenue rose 1.2% year over year.

QRG Capital Management Inc. increased its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 494,560 shares of the company's stock after purchasing an additional 17,000 shares during the quarter. QRG Capital Management Inc.'s holdings in Altria Group were worth $35,584,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MO. Illinois Municipal Retirement Fund boosted its holdings in shares of Altria Group by 7.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 668,243 shares of the company's stock valued at $38,531,000 after acquiring an additional 44,267 shares in the last quarter. Procyon Advisors LLC lifted its position in Altria Group by 59.3% in the first quarter. Procyon Advisors LLC now owns 38,926 shares of the company's stock worth $2,569,000 after purchasing an additional 14,490 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Altria Group by 2.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 665,297 shares of the company's stock valued at $38,361,000 after purchasing an additional 15,728 shares in the last quarter. Stephens Inc. AR boosted its stake in Altria Group by 8.6% during the 1st quarter. Stephens Inc. AR now owns 266,504 shares of the company's stock valued at $17,696,000 after purchasing an additional 21,124 shares in the last quarter. Finally, Callan Family Office LLC acquired a new position in shares of Altria Group during the 2nd quarter valued at $2,911,000. Institutional investors own 57.41% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MO. BTIG Research assumed coverage on Altria Group in a report on Tuesday, July 21st. They issued a "neutral" rating for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Altria Group in a research report on Tuesday, July 14th. Jefferies Financial Group upped their price target on shares of Altria Group from $50.00 to $60.00 and gave the company an "underperform" rating in a report on Wednesday, May 27th. Wall Street Zen lowered shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. Finally, Freedom Broker raised shares of Altria Group to a "hold" rating in a research note on Wednesday, September 16th. Five 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 presently has an average rating of "Hold" and an average target price of $70.11.

Insiders Place Their Bets

In other news, Director Kathryn McQuade bought 1,500 shares of the business's stock in a transaction on Wednesday, September 9th. The shares were bought at an average cost of $67.62 per share, with a total value of $101,430.00. Following the purchase, the director directly owned 114,929 shares in the company, valued at $7,771,498.98. This trade represents a 1.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.10% of the company's stock.

Altria Group Trading Up 0.3%

MO stock traded up $0.22 during mid-day trading on Wednesday, reaching $68.86. 9,559,669 shares of the stock traded hands, compared to its average volume of 9,261,146. Altria Group, Inc. has a 52-week low of $54.70 and a 52-week high of $77.06. The stock's fifty day moving average is $69.09 and its 200-day moving average is $69.14. The company has a market cap of $114.98 billion, a P/E ratio of 14.53, a P/E/G ratio of 2.43 and a beta of 0.45.

Altria Group (NYSE:MO - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.02). Altria Group had a negative return on equity of 315.29% and a net margin of 33.99%.The firm had revenue of $5.36 billion during the quarter, compared to analysts' expectations of $5.35 billion. During the same period last year, the business earned $1.44 earnings per share. The business's revenue was up 1.2% on a year-over-year basis. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. Equities research analysts expect that Altria Group, Inc. will post 5.67 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 9th. Shareholders of record on Tuesday, September 15th will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 6.4%. The ex-dividend date is Tuesday, September 15th. This is a positive change from Altria Group's previous quarterly dividend of $1.06. Altria Group's dividend payout ratio is presently 93.67%.

About Altria Group

Altria Group, Inc NYSE: MO is a tobacco and nicotine company headquartered in Richmond, Virginia. Through its operating companies, Altria develops, manufactures and markets cigarettes, cigars, oral tobacco products, nicotine pouches and electronic vaping products, with its business focused primarily on the United States.

Altria's smokeable products portfolio includes Marlboro cigarettes, which are manufactured and marketed in the U.S. by Philip Morris USA, as well as Black & Mild cigars through John Middleton.

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