Exchange Traded Concepts LLC Boosts Holdings in Altria Group, Inc. $MO

Key Points

• Exchange Traded Concepts LLC increased its stake in Altria Group by 17.4%, now owning over 1 million shares, making it the firm's 15th biggest holding.
• Altria Group recently reported $1.44 earnings per share, beating estimates and showing a slight revenue growth compared to the previous year.
• The company announced a quarterly dividend increase to $1.06 per share, providing a yield of 6.5%, with an ex-dividend date of September 15th.

Exchange Traded Concepts LLC boosted its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 17.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,086,060 shares of the company's stock after purchasing an additional 161,356 shares during the period. Altria Group comprises 0.8% of Exchange Traded Concepts LLC's holdings, making the stock its 15th biggest holding. Exchange Traded Concepts LLC owned approximately 0.06% of Altria Group worth $63,676,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MO. Jacobi Capital Management LLC grew its stake in Altria Group by 0.6% in the 1st quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company's stock worth $1,581,000 after acquiring an additional 168 shares in the last quarter. Vista Investment Partners II LLC grew its stake 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 worth $258,000 after acquiring an additional 174 shares in the last quarter. Wealth Alliance LLC grew its stake in Altria Group by 1.9% in the 1st quarter. Wealth Alliance LLC now owns 9,452 shares of the company's stock worth $567,000 after acquiring an additional 174 shares in the last quarter. Patten & Patten Inc. TN grew its stake 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 acquiring an additional 174 shares in the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC grew its stake in Altria Group by 2.7% in the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company's stock worth $406,000 after acquiring an additional 175 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Altria Group Stock Down 1.4%

Shares of NYSE:MO traded down $0.93 during midday trading on Monday, reaching $63.96. The company's stock had a trading volume of 3,855,585 shares, compared to its average volume of 9,023,686. The firm has a market capitalization of $107.45 billion, a PE ratio of 12.37, a P/E/G ratio of 3.49 and a beta of 0.59. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $68.60. The stock has a fifty day moving average of $63.89 and a 200 day moving average of $60.45.

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

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 15th will be paid a $1.06 dividend. The ex-dividend date is Monday, September 15th. This is an increase 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 6.6%. Altria Group's dividend payout ratio (DPR) is currently 82.01%.

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.