Cyndeo Wealth Partners LLC Grows Position in Altria Group, Inc. $MO

Key Points

• Cyndeo Wealth Partners LLC increased its investment in Altria Group, Inc. by 2.6% in the second quarter, bringing their total holdings to 189,967 shares, valued at approximately $11.14 million.
• Altria Group has announced a new quarterly dividend of $1.06, increasing from the previous $1.02, which results in an annualized dividend yield of 6.5%.
• Analysts have issued mixed ratings for Altria Group, with an average target price of $62.11, reflecting a range of sentiments from "Buy" to "Sell".

Cyndeo Wealth Partners LLC grew its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,967 shares of the company's stock after purchasing an additional 4,776 shares during the period. Cyndeo Wealth Partners LLC's holdings in Altria Group were worth $11,138,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MO. Mattson Financial Services LLC purchased a new stake in Altria Group in the 1st quarter worth approximately $25,000. Global X Japan Co. Ltd. purchased a new stake in Altria Group in the 2nd quarter worth approximately $25,000. Carderock Capital Management Inc. purchased a new stake in Altria Group in the 2nd quarter worth approximately $26,000. Inlight Wealth Management LLC purchased a new stake in Altria Group in the 1st quarter worth approximately $31,000. Finally, Sierra Ocean LLC boosted its position in Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after purchasing an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MO shares. Jefferies Financial Group started coverage on Altria Group in a research note on Wednesday, July 9th. They set an "underperform" rating and a $50.00 target price for the company. UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and upped their target price for the stock from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Barclays upped their target price on Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. Morgan Stanley increased their price objective on Altria Group from $57.00 to $62.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus set a $72.00 price objective on Altria Group in a research note on Thursday, August 21st. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $62.11.

Altria Group Stock Performance

NYSE MO opened at $65.72 on Friday. The business has a fifty day moving average price of $65.62 and a 200 day moving average price of $61.13. Altria Group, Inc. has a one year low of $48.86 and a one year high of $68.60. The company has a market cap of $110.40 billion, a P/E ratio of 12.71, a P/E/G ratio of 3.52 and a beta of 0.55.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.21 billion. During the same period last year, the company earned $1.31 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, sell-side analysts predict that Altria Group, Inc. will post 5.32 EPS 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 paid a $1.06 dividend. 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 dividend on an annualized basis and a dividend yield of 6.5%. Altria Group's dividend payout ratio is 82.01%.

Altria Group 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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