Curi RMB Capital LLC Cuts Stock Holdings in Altria Group, Inc. $MO

Key Points

• Curi RMB Capital LLC reduced its stake in Altria Group by 10.4% during the first quarter, now holding 88,123 shares valued at approximately $5.38 million.
• Altria recently announced a quarterly dividend increase to $1.06 per share, reflecting an annual yield of 6.4%.
• Analysts have mixed ratings on Altria Group; two rated it as a Buy, five as Hold, and two as Sell, with a consensus price target of $60.88.

Curi RMB Capital LLC cut its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 10.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 88,123 shares of the company's stock after selling 10,201 shares during the quarter. Curi RMB Capital LLC's holdings in Altria Group were worth $5,379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC acquired a new position in shares of Altria Group in the first quarter valued at approximately $31,000. Sierra Ocean LLC lifted its position in shares of Altria Group by 226.3% in the first quarter. Sierra Ocean LLC now owns 509 shares of the company's stock valued at $31,000 after acquiring an additional 353 shares in the last quarter. Pinney & Scofield Inc. acquired a new stake in Altria Group in the 4th quarter worth about $33,000. TruNorth Capital Management LLC boosted its stake in Altria Group by 51.8% in the 1st quarter. TruNorth Capital Management LLC now owns 636 shares of the company's stock worth $38,000 after buying an additional 217 shares during the last quarter. Finally, Menard Financial Group LLC acquired a new stake in Altria Group in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Trading Down 0.2%

NYSE:MO traded down $0.12 during trading hours on Wednesday, hitting $66.07. 2,265,473 shares of the company were exchanged, compared to its average volume of 8,948,540. The stock has a market capitalization of $110.99 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 3.54 and a beta of 0.59. Altria Group, Inc. has a one year low of $48.86 and a one year high of $68.60. The company has a fifty day simple moving average of $62.86 and a 200 day simple moving average of $59.90.

Altria Group (NYSE:MO - Get Free Report) last announced 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. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.Altria Group's revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 15th will be given a $1.06 dividend. This is a boost from Altria Group's previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.24 annualized dividend and a dividend yield of 6.4%. Altria Group's dividend payout ratio is 78.92%.

Wall Street Analysts Forecast Growth

MO has been the topic of a number of research analyst reports. Jefferies Financial Group began coverage on Altria Group in a research note on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price target on the stock. UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Barclays lifted their price objective on Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Needham & Company LLC raised Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley lifted their price objective on Altria Group from $57.00 to $62.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Altria Group presently has a consensus rating of "Hold" and an average price target of $60.88.

Altria Group Company 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.