Altria Group, Inc. $MO Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC grew its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 21.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 401,497 shares of the company's stock after buying an additional 71,693 shares during the period. NewEdge Advisors LLC's holdings in Altria Group were worth $28,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Cornerstone Planning Group LLC raised its position in shares of Altria Group by 5.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 2,619 shares of the company's stock worth $191,000 after acquiring an additional 143 shares in the last quarter. Angeles Wealth Management LLC boosted its holdings in Altria Group by 1.3% in the second quarter. Angeles Wealth Management LLC now owns 11,239 shares of the company's stock valued at $821,000 after purchasing an additional 146 shares in the last quarter. Bernardo Wealth Planning LLC boosted its holdings in Altria Group by 4.6% in the second quarter. Bernardo Wealth Planning LLC now owns 3,379 shares of the company's stock valued at $243,000 after purchasing an additional 149 shares in the last quarter. Old Peak Finance LLC increased its stake in Altria Group by 1.3% in the second quarter. Old Peak Finance LLC now owns 11,920 shares of the company's stock valued at $858,000 after purchasing an additional 151 shares during the last quarter. Finally, Joel Isaacson & Co. LLC increased its stake in Altria Group by 0.7% in the second quarter. Joel Isaacson & Co. LLC now owns 23,324 shares of the company's stock valued at $1,678,000 after purchasing an additional 152 shares during the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on MO. Wall Street Zen cut shares of Altria Group from a "buy" rating to a "hold" rating in a report on Sunday, June 21st. Barclays lowered their target price on shares of Altria Group from $64.00 to $58.00 and set an "underweight" rating for the company in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Altria Group in a research report on Tuesday, July 14th. Jefferies Financial Group lifted their price target on shares of Altria Group from $50.00 to $60.00 and gave the stock an "underperform" rating in a research note on Wednesday, May 27th. Finally, UBS Group boosted their price target on shares of Altria Group from $76.00 to $79.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $70.11.

Altria Group Price Performance

NYSE:MO opened at $67.88 on Thursday. The firm has a market cap of $113.34 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 2.42 and a beta of 0.45. The firm's fifty day moving average price is $69.56 and its 200 day moving average price is $69.10. Altria Group, Inc. has a 1-year low of $54.70 and a 1-year high of $77.06.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $5.35 billion. During the same quarter in the previous year, the company posted $1.44 EPS. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. As a group, analysts expect that Altria Group, Inc. will post 5.67 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 6.5%. This is a positive change from Altria Group's previous quarterly dividend of $1.06. The ex-dividend date is Tuesday, September 15th. Altria Group's dividend payout ratio (DPR) is presently 89.45%.

Altria Group Company Profile

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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