Altria Group, Inc. $MO Shares Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. has increased its stake in Altria Group by 6.9%, owning 239,066 shares worth approximately $14.35 million after purchasing an additional 15,397 shares in the first quarter.
• Altria Group reported quarterly earnings of $1.44 per share, exceeding analysts' expectations of $1.37, along with a revenue of $5.29 billion.
• The company has announced a dividend increase to $1.06 per share, reflecting a yield of 6.3%, with the next payment scheduled for October 10th.

Northwestern Mutual Wealth Management Co. grew its position in Altria Group, Inc. (NYSE:MO - Free Report) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 239,066 shares of the company's stock after purchasing an additional 15,397 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Altria Group were worth $14,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MO. Haverford Trust Co grew its holdings in shares of Altria Group by 4.7% during the first quarter. Haverford Trust Co now owns 58,815 shares of the company's stock valued at $3,530,000 after buying an additional 2,625 shares during the last quarter. Sax Wealth Advisors LLC purchased a new stake in shares of Altria Group during the first quarter valued at $303,000. Van Hulzen Asset Management LLC grew its holdings in shares of Altria Group by 9.8% during the first quarter. Van Hulzen Asset Management LLC now owns 4,454 shares of the company's stock valued at $267,000 after buying an additional 399 shares during the last quarter. D.B. Root & Company LLC purchased a new stake in shares of Altria Group during the first quarter valued at $214,000. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Altria Group during the first quarter valued at $88,470,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Up 1.2%

Shares of MO stock traded up $0.79 during mid-day trading on Friday, hitting $67.21. 5,929,232 shares of the stock were exchanged, compared to its average volume of 9,053,823. The firm has a fifty day moving average of $61.67 and a 200 day moving average of $59.14. Altria Group, Inc. has a 52-week low of $48.86 and a 52-week high of $68.60. The company has a market cap of $112.91 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same period in the prior year, the company posted $1.31 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Equities analysts predict 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. Investors of record on Monday, September 15th will be given a dividend of $1.06 per share. This is a boost from Altria Group's previous quarterly dividend of $1.02. The ex-dividend date is Monday, September 15th. This represents a $4.24 annualized dividend and a dividend yield of 6.3%. Altria Group's payout ratio is currently 78.92%.

Analyst Ratings Changes

MO has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Altria Group from $57.00 to $62.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. UBS Group raised shares of Altria Group from a "sell" rating to a "neutral" rating and upped their price target for the company from $47.00 to $59.00 in a report on Wednesday, July 2nd. Needham & Company LLC raised shares of Altria Group to a "hold" rating in a report on Thursday, May 22nd. Jefferies Financial Group initiated coverage on shares of Altria Group in a report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price target on the stock. Finally, Bank of America upped their price target on shares of Altria Group from $64.00 to $72.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $60.88.

Altria Group Profile

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.