Altria Group, Inc. $MO Shares Sold by Dover Advisors LLC

Key Points

• Dover Advisors LLC significantly reduced its holdings in Altria Group, Inc. by 59.6%, selling 7,947 shares, and now owns 5,377 shares worth approximately $315,000.
• Altria recently declared a quarterly dividend of $1.06, increasing from its previous amount of $1.02, resulting in an annualized yield of 6.4%.
• Analyst ratings for Altria are mixed, with two analysts recommending a "Buy," five a "Hold," and two a "Sell," leading to an average target price of $60.88.

Dover Advisors LLC decreased its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 59.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,377 shares of the company's stock after selling 7,947 shares during the period. Dover Advisors LLC's holdings in Altria Group were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mattson Financial Services LLC purchased a new stake in shares of Altria Group during the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC purchased a new stake in shares of Altria Group during the 1st quarter worth approximately $31,000. Sierra Ocean LLC boosted its stake in shares of Altria Group by 226.3% during the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after acquiring an additional 353 shares in the last quarter. Pinney & Scofield Inc. purchased a new stake in shares of Altria Group during the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC lifted 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 valued at $38,000 after buying an additional 217 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus set a $72.00 target price on Altria Group in a research note on Thursday, August 21st. Bank of America upped their target price on Altria Group from $64.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and upped their target price for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Needham & Company LLC raised Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley upped their target price 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 investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $60.88.

Altria Group Stock Up 0.4%

MO stock opened at $66.64 on Monday. The company has a market cap of $111.95 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 3.58 and a beta of 0.59. The business has a fifty day simple moving average of $63.28 and a 200-day simple moving average of $60.17. Altria Group, Inc. has a 52 week low of $48.86 and a 52 week high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The business's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal 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 issued a $1.06 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.24 annualized dividend and a yield of 6.4%. This is an increase from Altria Group's previous quarterly dividend of $1.02. Altria Group's payout ratio is currently 78.92%.

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.

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.