Centurion Wealth Management LLC Acquires Shares of 3,968 Altria Group, Inc. $MO

Key Points

• Centurion Wealth Management LLC acquired 3,968 shares of Altria Group, Inc., valued at approximately $233,000, during the 2nd quarter of the year.
• Altria Group recently announced a quarterly dividend of $1.06, representing an annualized yield of 6.4%, an increase from the previous dividend of $1.02.
• Several analysts have upgraded their ratings for Altria Group, with Morgan Stanley raising their target price from $57.00 to $62.00 as part of a generally positive outlook.

Centurion Wealth Management LLC acquired a new stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,968 shares of the company's stock, valued at approximately $233,000.

Several other large investors have also recently made changes to their positions in the business. Taylor & Morgan Wealth Management LLC increased its position in shares of Altria Group by 1.6% during the 2nd quarter. Taylor & Morgan Wealth Management LLC now owns 12,914 shares of the company's stock valued at $757,000 after purchasing an additional 209 shares during the last quarter. Fiduciary Financial Group LLC increased its position in shares of Altria Group by 3.5% during the 2nd quarter. Fiduciary Financial Group LLC now owns 6,388 shares of the company's stock valued at $371,000 after purchasing an additional 215 shares during the last quarter. Crumly & Associates Inc. increased its position in shares of Altria Group by 9.2% during the 2nd quarter. Crumly & Associates Inc. now owns 4,212 shares of the company's stock valued at $247,000 after purchasing an additional 354 shares during the last quarter. First Financial Bank Trust Division increased its position in shares of Altria Group by 7.1% during the 2nd quarter. First Financial Bank Trust Division now owns 7,238 shares of the company's stock valued at $424,000 after purchasing an additional 477 shares during the last quarter. Finally, Central Pacific Bank Trust Division increased its position in shares of Altria Group by 2.4% during the 2nd quarter. Central Pacific Bank Trust Division now owns 36,254 shares of the company's stock valued at $2,126,000 after purchasing an additional 835 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MO has been the subject of several research analyst reports. Morgan Stanley raised their target price on Altria Group from $57.00 to $62.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Needham & Company LLC raised shares of Altria Group to a "hold" rating in a report on Thursday, May 22nd. UBS Group upgraded shares of 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 research note on Wednesday, July 2nd. Barclays upped their price target on shares of Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Finally, Bank of America raised their price objective on shares of Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $60.88.

Altria Group Trading Up 0.4%

Shares of MO opened at $66.64 on Monday. The company has a market cap of $111.95 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 3.58 and a beta of 0.59. The stock has a 50-day moving average price of $63.28 and a 200-day moving average price of $60.17. Altria Group, Inc. has a 12-month low of $48.86 and a 12-month high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last released 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 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%.Altria Group's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Increases Dividend

The company 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. This represents a $4.24 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Monday, September 15th. This is a positive change from Altria Group's previous quarterly dividend of $1.02. Altria Group's dividend payout ratio is presently 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.

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