Blue Rock Wealth Management LLC Takes $323,000 Position in Altria Group, Inc. $MO

Key Points

• Blue Rock Wealth Management LLC acquired 5,375 shares of Altria Group, Inc. valued at approximately $323,000 in the first quarter of 2023.
• Altria Group announced a quarterly dividend of $1.06, representing a 6.4% dividend yield, with a positive adjustment from its previous dividend of $1.02.
• Analysts are optimistic about Altria Group, with a consensus rating of "Hold" and an average target price of $60.88 following recent upgrades from various research firms.

Blue Rock Wealth Management LLC bought a new position in shares of Altria Group, Inc. (NYSE:MO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,375 shares of the company's stock, valued at approximately $323,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC raised its position in Altria Group by 88.5% during the first quarter. NorthCrest Asset Manangement LLC now owns 8,536 shares of the company's stock worth $512,000 after acquiring an additional 4,007 shares during the last quarter. Brighton Jones LLC raised its position in shares of Altria Group by 64.7% in the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company's stock valued at $926,000 after buying an additional 6,954 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Altria Group by 17.8% in the first quarter. GAMMA Investing LLC now owns 36,028 shares of the company's stock valued at $2,162,000 after buying an additional 5,440 shares during the last quarter. Patron Partners LLC raised its position in shares of Altria Group by 12.2% in the first quarter. Patron Partners LLC now owns 12,217 shares of the company's stock valued at $733,000 after buying an additional 1,325 shares during the last quarter. Finally, Simplicity Wealth LLC raised its position in shares of Altria Group by 152.2% in the first quarter. Simplicity Wealth LLC now owns 58,268 shares of the company's stock valued at $3,497,000 after buying an additional 35,168 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MO shares. Needham & Company LLC raised shares of Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Barclays boosted their target price on shares of Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and boosted their target price for the company from $47.00 to $59.00 in a report on Wednesday, July 2nd. Morgan Stanley boosted their target price on shares of Altria Group from $57.00 to $62.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Finally, Stifel Nicolaus set a $72.00 target price on shares of Altria Group in a report on Thursday, August 21st. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Altria Group presently has an average rating of "Hold" and an average target price of $60.88.

Altria Group Price Performance

MO traded up $0.28 during trading on Friday, hitting $66.64. The company had a trading volume of 7,962,739 shares, compared to its average volume of 6,965,362. The company has a market cap of $111.95 billion, a PE ratio of 12.89, a P/E/G ratio of 3.57 and a beta of 0.59. The business has a 50-day moving average of $63.28 and a 200-day moving average of $60.09. Altria Group, Inc. has a 1-year low of $48.86 and a 1-year high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The firm's revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Research analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 15th will be given a $1.06 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.24 dividend on an annualized basis and a yield of 6.4%. This is a boost 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.