Cullen Capital Management LLC Trims Stake in Altria Group, Inc. $MO

Key Points

• Cullen Capital Management cut its stake in Altria Group by 5.8% in the fourth quarter, selling 142,696 shares and leaving it with 2.34 million shares valued at about $134.8 million.
• Altria reported better-than-expected first-quarter results, with EPS of $1.32 versus estimates of $1.25 and revenue of $4.76 billion, up 5.3% year over year.
• The company declared a quarterly dividend of $1.06 per share, implying an annualized yield of 5.9%, while analysts currently maintain a consensus rating of Hold with an average price target of $70.44.

Cullen Capital Management LLC trimmed its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,338,076 shares of the company's stock after selling 142,696 shares during the quarter. Cullen Capital Management LLC owned about 0.14% of Altria Group worth $134,813,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MO. Marshall Wace LLP grew its position in Altria Group by 286.7% during the third quarter. Marshall Wace LLP now owns 4,479,699 shares of the company's stock worth $295,929,000 after buying an additional 3,321,262 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Altria Group by 19.4% during the third quarter. Ameriprise Financial Inc. now owns 19,567,823 shares of the company's stock worth $1,285,575,000 after purchasing an additional 3,172,753 shares during the last quarter. SG Americas Securities LLC lifted its stake in Altria Group by 438.6% during the fourth quarter. SG Americas Securities LLC now owns 3,637,678 shares of the company's stock worth $209,749,000 after purchasing an additional 2,962,270 shares during the last quarter. Vanguard Group Inc. lifted its stake in Altria Group by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 160,980,626 shares of the company's stock worth $9,282,143,000 after purchasing an additional 1,903,530 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Altria Group by 333.1% during the fourth quarter. Federated Hermes Inc. now owns 2,071,154 shares of the company's stock worth $119,423,000 after purchasing an additional 1,592,940 shares during the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Altria Group

In other news, Director Ennis Debra J. Kelly sold 5,790 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total value of $418,327.50. Following the completion of the sale, the director owned 73,809 shares of the company's stock, valued at approximately $5,332,700.25. The trade was a 7.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ellen R. Strahlman sold 2,000 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $72.56, for a total value of $145,120.00. Following the completion of the sale, the director directly owned 25,102 shares of the company's stock, valued at approximately $1,821,401.12. This trade represents a 7.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.10% of the company's stock.

Altria Group Stock Up 0.6%

Shares of MO stock opened at $71.83 on Friday. The business has a 50-day moving average price of $69.40 and a two-hundred day moving average price of $64.92. Altria Group, Inc. has a 12-month low of $54.70 and a 12-month high of $74.56. The firm has a market cap of $119.95 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 2.67 and a beta of 0.46.

Altria Group (NYSE:MO - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.07. Altria Group had a negative return on equity of 298.69% and a net margin of 34.34%.The company had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.58 billion. During the same quarter in the previous year, the company posted $1.23 EPS. Altria Group's revenue for the quarter was up 5.3% on a year-over-year basis. Altria Group has set its FY 2026 guidance at 5.560-5.72 EPS. As a group, research analysts expect that Altria Group, Inc. will post 5.68 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Monday, June 15th. Altria Group's payout ratio is 88.70%.

Analyst Ratings Changes

MO has been the subject of several research analyst reports. UBS Group lifted their price target on Altria Group from $74.00 to $76.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Citigroup lifted their price target on Altria Group from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. The Goldman Sachs Group reaffirmed a "buy" rating and set a $77.00 price target on shares of Altria Group in a research note on Thursday, April 30th. Barclays lifted their price target on Altria Group from $63.00 to $64.00 and gave the stock an "underweight" rating in a research note on Friday, May 15th. Finally, Bank of America lifted their price target on Altria Group from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, April 10th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Altria Group presently has a consensus rating of "Hold" and an average price target of $70.44.

About Altria Group

Altria Group, Inc NYSE: MO is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company's operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria's principal operating businesses include Philip Morris USA (cigarettes), U.S.

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