Altria Group, Inc. $MO Shares Acquired by Oak Hill Wealth Advisors LLC

Key Points

• Oak Hill Wealth Advisors LLC has increased its holdings in Altria Group by 9.6%, now owning 44,466 shares valued at approximately $2.65 million.
• Altria Group declared a quarterly dividend of $1.06 per share, up from its previous dividend of $1.02, representing an annual yield of 6.5%.
• Analysts have mixed ratings on Altria Group, with an average target price of $60.88 and notable upgrades, including UBS raising their target from $47 to $59.

Oak Hill Wealth Advisors LLC increased its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 9.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,466 shares of the company's stock after acquiring an additional 3,899 shares during the quarter. Oak Hill Wealth Advisors LLC's holdings in Altria Group were worth $2,648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mattson Financial Services LLC acquired a new stake in shares of Altria Group in the first quarter valued at approximately $25,000. Global X Japan Co. Ltd. purchased a new stake in shares of Altria Group in the 2nd quarter valued at approximately $25,000. Carderock Capital Management Inc. purchased a new stake in shares of Altria Group in the 2nd quarter valued at approximately $26,000. Inlight Wealth Management LLC purchased a new stake in Altria Group in the 1st quarter worth approximately $31,000. Finally, Sierra Ocean LLC lifted its position in Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after buying an additional 353 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MO shares. UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and raised their price target for the company from $47.00 to $59.00 in a report on Wednesday, July 2nd. Morgan Stanley raised 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 report on Thursday, July 31st. Jefferies Financial Group started coverage on shares of Altria Group in a report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective for the company. Stifel Nicolaus set a $72.00 price objective on shares of Altria Group in a report on Thursday, August 21st. Finally, Barclays lifted their price target on shares of Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $60.88.

Altria Group Stock Down 0.1%

Shares of MO stock opened at $65.70 on Friday. The firm has a market capitalization of $110.38 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 3.54 and a beta of 0.55. Altria Group, Inc. has a 12-month low of $48.86 and a 12-month high of $68.60. The firm has a fifty day moving average of $65.19 and a 200-day moving average of $60.91.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating 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 company had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.21 billion. During the same quarter in the prior year, the company earned $1.31 earnings per share. The business'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. Research 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 declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 15th will be paid a $1.06 dividend. 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 yield of 6.5%. The ex-dividend date is Monday, September 15th. Altria Group's dividend payout ratio is 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.

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.