Altria Group, Inc. $MO Shares Purchased by HighMark Wealth Management LLC

Key Points

• HighMark Wealth Management LLC significantly increased its stake in Altria Group, purchasing 7,324 shares, representing a growth of 3,625.7% by the end of the second quarter.
• Altria Group announced a quarterly dividend increase to $1.06 per share, reflecting a 6.4% dividend yield and a payout ratio of 82.01%.
• Analysts have raised price targets for Altria Group, with estimates ranging from $57.00 to $72.00, while the company holds a consensus rating of "Hold."

HighMark Wealth Management LLC grew its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 3,625.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,526 shares of the company's stock after acquiring an additional 7,324 shares during the quarter. HighMark Wealth Management LLC's holdings in Altria Group were worth $441,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of MO. Mattson Financial Services LLC acquired a new position in Altria Group during the 1st quarter valued at about $25,000. Global X Japan Co. Ltd. acquired a new stake in shares of Altria Group in the second quarter valued at approximately $25,000. Carderock Capital Management Inc. bought a new stake in shares of Altria Group during the second quarter valued at approximately $26,000. Sierra Ocean LLC boosted its position in shares of Altria Group by 226.3% during the first quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after buying an additional 353 shares during the period. Finally, Inlight Wealth Management LLC acquired a new position in shares of Altria Group during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 57.41% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus set a $72.00 target price on Altria Group in a research report on Thursday, August 21st. Morgan Stanley increased their price target on Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Barclays lifted their price objective on shares of Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. UBS Group raised shares of Altria Group from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Finally, Bank of America raised their target price on shares of Altria Group from $64.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $60.88.

Altria Group Stock Down 0.8%

NYSE:MO opened at $65.74 on Friday. The business's 50-day moving average price is $65.07 and its 200 day moving average price is $60.86. Altria Group, Inc. has a 52-week low of $48.86 and a 52-week high of $68.60. The firm has a market cap of $110.44 billion, a P/E ratio of 12.72, a PEG ratio of 3.56 and a beta of 0.55.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $5.29 billion during 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 revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Sell-side analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The business also recently declared 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 is an increase from Altria Group's previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Monday, September 15th. Altria Group's dividend payout ratio 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.

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