Baugh & Associates LLC Has $5.35 Million Stock Holdings in Altria Group, Inc. $MO

Key Points

• Baugh & Associates LLC reduced its stake in Altria Group, Inc. (NYSE:MO) by 4.2% in the second quarter, holding 98,714 shares worth approximately $5.35 million.
• Several hedge funds increased their positions in Altria, with Wedge Capital Management growing their holdings by an astounding 13,343.2%, now owning 530,066 shares.
• Altria Group recently increased its quarterly dividend to $1.06 per share, up from $1.02, reflecting a yield of 6.5% and a dividend payout ratio of 82.01%.

Baugh & Associates LLC trimmed its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,714 shares of the company's stock after selling 4,375 shares during the quarter. Altria Group accounts for approximately 2.8% of Baugh & Associates LLC's holdings, making the stock its 13th biggest holding. Baugh & Associates LLC's holdings in Altria Group were worth $5,345,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. NorthCrest Asset Manangement LLC grew its position in shares of Altria Group by 88.5% in the first quarter. NorthCrest Asset Manangement LLC now owns 8,536 shares of the company's stock valued at $512,000 after purchasing an additional 4,007 shares during the period. Invst LLC grew its holdings in shares of Altria Group by 252.0% during the first quarter. Invst LLC now owns 16,188 shares of the company's stock worth $972,000 after buying an additional 11,589 shares in the last quarter. Central Valley Advisors LLC acquired a new position in shares of Altria Group during the second quarter worth $1,715,000. Focus Partners Wealth increased its stake in Altria Group by 18.0% during the first quarter. Focus Partners Wealth now owns 202,587 shares of the company's stock valued at $12,218,000 after purchasing an additional 30,860 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in Altria Group by 17.4% in the second quarter. Exchange Traded Concepts LLC now owns 1,086,060 shares of the company's stock worth $63,676,000 after purchasing an additional 161,356 shares during the period. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Stock Performance

Shares of NYSE MO traded up $0.91 during mid-day trading on Friday, hitting $64.85. 22,701,500 shares of the stock traded hands, compared to its average volume of 7,889,683. The company has a market cap of $108.94 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 3.49 and a beta of 0.59. The stock has a fifty day moving average price of $63.89 and a 200-day moving average price of $60.45. 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 announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.07. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.21 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. Altria Group's quarterly revenue was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, sell-side analysts predict 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. Investors of record on Monday, September 15th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.5%. This is a boost from Altria Group's previous quarterly dividend of $1.02. The ex-dividend date is Monday, September 15th. Altria Group's payout ratio is presently 82.01%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MO. Bank of America raised their target price on Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Morgan Stanley raised their price target on shares of Altria Group from $57.00 to $62.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Stifel Nicolaus set a $72.00 target price on shares of Altria Group in a report on Thursday, August 21st. UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Finally, Barclays lifted their price objective on shares of Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus 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.