Belpointe Asset Management LLC Has $3.22 Million Position in Altria Group, Inc. $MO

Key Points

• Belpointe Asset Management LLC has reduced its holdings in Altria Group by 14.0%, now owning 53,573 shares valued at $3.2 million after selling off 8,687 shares in the first quarter.
• Altria Group declared a quarterly dividend of $1.06 per share, up from $1.02, representing a 6.4% yield, with the ex-dividend date set for September 15th.
• Analysts give Altria Group an average rating of "Hold" with a consensus price target of $60.88, while recent upgrades from UBS and others reflect varying sentiments in the market.

Belpointe Asset Management LLC lowered its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 14.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,573 shares of the company's stock after selling 8,687 shares during the period. Belpointe Asset Management LLC's holdings in Altria Group were worth $3,215,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Sierra Ocean LLC increased its stake in shares of Altria Group by 226.3% during the first quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after purchasing an additional 353 shares during the period. Inlight Wealth Management LLC bought a new position in Altria Group during the 1st quarter worth $31,000. Pinney & Scofield Inc. bought a new position in Altria Group during the 4th quarter worth $33,000. TruNorth Capital Management LLC increased its stake in Altria Group by 51.8% during the 1st quarter. TruNorth Capital Management LLC now owns 636 shares of the company's stock worth $38,000 after acquiring an additional 217 shares during the period. Finally, Abound Financial LLC bought a new position in Altria Group during the 1st quarter worth $40,000. Institutional investors own 57.41% of the company's stock.

Altria Group Price Performance

Shares of NYSE MO traded up $0.28 during mid-day trading on Friday, hitting $66.64. 7,962,739 shares of the stock traded hands, compared to its average volume of 6,965,362. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $68.60. The company has a market cap of $111.95 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. The firm has a 50 day simple moving average of $63.28 and a two-hundred day simple moving average of $60.09.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.21 billion. During the same quarter last year, the business posted $1.31 EPS. Altria Group's revenue for the quarter was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 15th will be issued a dividend of $1.06 per share. This is a positive change 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 (DPR) is 78.92%.

Analysts Set New Price Targets

MO has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Bank of America raised their price objective on Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Needham & Company LLC raised Altria Group to a "hold" rating in a report on Thursday, May 22nd. Stifel Nicolaus set a $72.00 target price on Altria Group in a report on Thursday, August 21st. Finally, Barclays raised their target price on Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Altria Group currently has an average rating of "Hold" and a consensus 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.