Credit Agricole S A Sells 683,112 Shares of Altria Group, Inc. $MO

Key Points

• Credit Agricole S A has reduced its holdings in Altria Group by 59.8%, selling 683,112 shares and now owning 458,809 shares worth approximately $27.5 million.
• Altria Group's stock opened at $66.51, showing a market cap of $111.72 billion and reporting earnings per share (EPS) of $1.44 for the most recent quarter, exceeding analysts' expectations.
• Several investment firms have recently revised their price targets for Altria Group, with Morgan Stanley raising theirs from $57.00 to $62.00 and Stifel Nicolaus from $63.00 to $65.00, indicating a generally favorable outlook.

Credit Agricole S A cut its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 59.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 458,809 shares of the company's stock after selling 683,112 shares during the period. Credit Agricole S A's holdings in Altria Group were worth $27,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MO. Inlight Wealth Management LLC purchased a new stake in Altria Group during the first quarter valued at approximately $31,000. Sierra Ocean LLC raised its position in Altria Group by 226.3% during the first quarter. Sierra Ocean LLC now owns 509 shares of the company's stock valued at $31,000 after purchasing an additional 353 shares during the period. Pinney & Scofield Inc. purchased a new stake in shares of Altria Group in the fourth quarter worth approximately $33,000. Bellwether Advisors LLC purchased a new stake in shares of Altria Group in the fourth quarter worth approximately $38,000. Finally, TruNorth Capital Management LLC raised its holdings in shares of Altria Group by 51.8% in the first quarter. TruNorth Capital Management LLC now owns 636 shares of the company's stock worth $38,000 after buying an additional 217 shares during the period. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Down 0.1%

NYSE:MO traded down $0.0650 during midday trading on Friday, hitting $67.6150. The stock had a trading volume of 9,600,585 shares, compared to its average volume of 8,618,873. Altria Group, Inc. has a one year low of $48.86 and a one year high of $68.60. The company has a market capitalization of $113.59 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 3.64 and a beta of 0.59. The stock has a 50-day moving average of $61.07 and a 200 day moving average of $58.76.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $5.21 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. Altria Group's revenue was up .2% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, sell-side analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 15th will be given a dividend of $1.06 per share. This is a boost 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 yield of 6.3%. Altria Group's payout ratio is 78.92%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Altria Group in a report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price target on the stock. UBS Group upgraded Altria Group from a "sell" rating to a "neutral" rating and increased their price target for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Barclays increased their price target on Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Wall Street Zen downgraded Altria Group from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Finally, Morgan Stanley increased their price target on Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Two 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $60.00.

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.