Adams Asset Advisors LLC Has $13.97 Million Stock Holdings in Altria Group, Inc. $MO

Key Points

• Adams Asset Advisors LLC reduced its holdings in Altria Group by 12.5% in the second quarter, now owning 238,344 shares valued at approximately $13.97 million.
• Multiple hedge funds have adjusted positions in Altria, with GQG Partners LLC increasing its holdings by a dramatic 8,146.4% in the first quarter.
• Altria recently declared a quarterly dividend of $1.06, representing a 6.4% dividend yield, which is an increase from the previous quarterly dividend of $1.02.

Adams Asset Advisors LLC trimmed its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 12.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 238,344 shares of the company's stock after selling 34,108 shares during the period. Altria Group comprises about 2.0% of Adams Asset Advisors LLC's investment portfolio, making the stock its 9th largest position. Adams Asset Advisors LLC's holdings in Altria Group were worth $13,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Altria Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 158,117,225 shares of the company's stock worth $9,490,196,000 after purchasing an additional 1,300,787 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Altria Group by 5.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company's stock worth $3,798,592,000 after purchasing an additional 3,483,487 shares during the last quarter. GQG Partners LLC grew its holdings in shares of Altria Group by 8,146.4% during the first quarter. GQG Partners LLC now owns 18,698,594 shares of the company's stock worth $1,122,290,000 after purchasing an additional 18,471,846 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Altria Group by 3.7% during the first quarter. Invesco Ltd. now owns 12,243,041 shares of the company's stock worth $734,827,000 after purchasing an additional 441,083 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Altria Group by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 11,961,220 shares of the company's stock worth $717,913,000 after purchasing an additional 3,415,237 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Down 0.1%

Shares of NYSE:MO traded down $0.08 during mid-day trading on Tuesday, reaching $64.81. 9,532,798 shares of the stock were exchanged, compared to its average volume of 6,945,190. The company has a market cap of $108.87 billion, a P/E ratio of 12.54, a P/E/G ratio of 3.49 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 stock's 50 day simple moving average is $63.48 and its 200-day simple moving average is $60.26.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.07. The firm 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 was up .2% compared to the same quarter last year. During the same period last year, the company earned $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Analysts anticipate that Altria Group, Inc. will post 5.32 EPS 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. Shareholders of record on Monday, September 15th will be paid a $1.06 dividend. This is a positive change from Altria Group's previous quarterly dividend of $1.02. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Monday, September 15th. Altria Group's dividend payout ratio is 82.01%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MO. Stifel Nicolaus set a $72.00 target price on Altria Group in a report on Thursday, August 21st. Bank of America increased their target price on Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Jefferies Financial Group began coverage on Altria Group in a report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 target price on the stock. Morgan Stanley increased their target price on Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Finally, Needham & Company LLC raised Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.