Altria Group, Inc. $MO Shares Sold by C2C Wealth Management LLC

Key Points

• C2C Wealth Management LLC significantly reduced its stake in Altria Group by 54.6%, now holding 4,204 shares valued at $246,000.
• Multiple institutional investors have increased their holdings in Altria, with GQG Partners LLC boosting their position by an astonishing 8,146.4% during Q1.
• Altria recently raised its quarterly dividend to $1.06 per share, yielding 6.5%, marking an increase from its previous dividend of $1.02.

C2C Wealth Management LLC decreased its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 54.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,204 shares of the company's stock after selling 5,048 shares during the quarter. C2C Wealth Management LLC's holdings in Altria Group were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MO. GQG Partners LLC boosted its position in shares of Altria Group by 8,146.4% during the 1st quarter. GQG Partners LLC now owns 18,698,594 shares of the company's stock valued at $1,122,290,000 after acquiring an additional 18,471,846 shares during the last quarter. Nuveen LLC acquired a new position in shares of Altria Group during the 1st quarter valued at about $219,141,000. Charles Schwab Investment Management Inc. boosted its position in shares of Altria Group by 5.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company's stock valued at $3,798,592,000 after acquiring an additional 3,483,487 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Altria Group by 40.0% during the 1st quarter. JPMorgan Chase & Co. now owns 11,961,220 shares of the company's stock valued at $717,913,000 after acquiring an additional 3,415,237 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its position in shares of Altria Group by 111.3% during the 1st quarter. Raymond James Financial Inc. now owns 5,558,252 shares of the company's stock valued at $333,606,000 after acquiring an additional 2,928,006 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company's stock.

Wall Street Analyst Weigh In

MO has been the topic of several recent research reports. Bank of America boosted their price target 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. Stifel Nicolaus set a $72.00 target price on shares of Altria Group in a research note on Thursday, August 21st. Morgan Stanley increased their target price on shares of Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. UBS Group raised shares of Altria Group from a "sell" rating to a "neutral" rating and increased their target price for the stock from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Finally, Jefferies Financial Group started coverage on shares of Altria Group in a research note 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $60.88.

Altria Group Price Performance

Shares of MO stock opened at $65.58 on Tuesday. The firm has a market cap of $110.17 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. Altria Group, Inc. has a 1-year low of $48.86 and a 1-year high of $68.60. The company has a 50-day moving average of $64.68 and a two-hundred day moving average of $60.73.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly 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. The business had revenue of $5.29 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company 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 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders 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. This represents a $4.24 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Monday, September 15th. Altria Group's dividend payout ratio is currently 82.01%.

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.

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