Concord Asset Management LLC VA Invests $529,000 in Altria Group, Inc. $MO

Key Points

• Concord Asset Management LLC has invested approximately $529,000 in Altria Group, acquiring 9,025 shares of the company's stock in the second quarter.
• Altria Group's recent earnings report showed $1.44 earnings per share, surpassing analyst expectations, with a quarterly revenue of $5.29 billion.
• The company increased its quarterly dividend to $1.06 per share, reflecting a yield of 6.5% and indicating a positive change from the previous dividend of $1.02.

Concord Asset Management LLC VA purchased a new position in Altria Group, Inc. (NYSE:MO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 9,025 shares of the company's stock, valued at approximately $529,000.

Several other large investors have also recently modified their holdings of the stock. RoundAngle Advisors LLC raised its position in shares of Altria Group by 2.9% in the 2nd quarter. RoundAngle Advisors LLC now owns 29,482 shares of the company's stock worth $1,729,000 after purchasing an additional 831 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Altria Group by 15.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 85,850 shares of the company's stock worth $5,033,000 after purchasing an additional 11,430 shares during the last quarter. Vest Financial LLC raised its position in shares of Altria Group by 39.2% in the 2nd quarter. Vest Financial LLC now owns 23,248 shares of the company's stock worth $1,363,000 after purchasing an additional 6,552 shares during the last quarter. Griffin Asset Management Inc. raised its position in shares of Altria Group by 3.3% in the 2nd quarter. Griffin Asset Management Inc. now owns 31,497 shares of the company's stock worth $1,847,000 after purchasing an additional 1,012 shares during the last quarter. Finally, MGO One Seven LLC raised its position in shares of Altria Group by 11.9% in the 2nd quarter. MGO One Seven LLC now owns 53,503 shares of the company's stock worth $3,137,000 after purchasing an additional 5,686 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Altria Group from $65.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, October 1st. Weiss Ratings restated a "buy (b)" rating on shares of Altria Group in a research note on Wednesday, October 8th. Stifel Nicolaus set a $72.00 target price on shares of Altria Group in a research note on Thursday, August 21st. UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and upped their target price for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Finally, Jefferies Financial Group assumed coverage on shares of Altria Group in a research note on Wednesday, July 9th. They set an "underperform" rating and a $50.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Altria Group presently has a consensus rating of "Hold" and a consensus price target of $62.11.

Altria Group Stock Down 2.4%

Shares of NYSE:MO opened at $64.92 on Tuesday. The firm's 50 day moving average price is $65.78 and its 200-day moving average price is $61.29. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $68.60. The stock has a market capitalization of $109.07 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 3.70 and a beta of 0.55.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.07. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The firm had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.21 billion. During the same quarter in the prior year, the business earned $1.31 EPS. The business'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. Analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 15th were paid a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date was Monday, September 15th. This is a positive change from Altria Group's previous quarterly dividend of $1.02. Altria Group's dividend payout ratio (DPR) is 82.01%.

About Altria Group

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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