Czech National Bank Buys 22,480 Shares of Altria Group, Inc. $MO

Key Points

• The Czech National Bank increased its stake in Altria Group by 5.8%, owning a total of 411,739 shares valued at approximately $24.14 million after acquiring 22,480 additional shares.
• Altria Group recently announced a quarterly dividend of $1.06, raising its previous dividend of $1.02, which reflects a dividend yield of 6.5%.
• Wall Street analysts have mixed ratings on Altria Group, with a consensus rating of "Hold" and an average target price of $60.88, while some analysts have raised their target prices significantly.

Czech National Bank lifted its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 5.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 411,739 shares of the company's stock after buying an additional 22,480 shares during the quarter. Czech National Bank's holdings in Altria Group were worth $24,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. NorthCrest Asset Manangement LLC raised its stake in Altria Group by 88.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 8,536 shares of the company's stock valued at $512,000 after purchasing an additional 4,007 shares during the period. Invst LLC raised its stake in Altria Group by 252.0% during the 1st quarter. Invst LLC now owns 16,188 shares of the company's stock valued at $972,000 after purchasing an additional 11,589 shares during the period. Brighton Jones LLC raised its stake in Altria Group by 64.7% during the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company's stock valued at $926,000 after purchasing an additional 6,954 shares during the period. Focus Partners Wealth raised its stake in Altria Group by 18.0% during the 1st quarter. Focus Partners Wealth now owns 202,587 shares of the company's stock valued at $12,218,000 after purchasing an additional 30,860 shares during the period. Finally, GAMMA Investing LLC raised its stake in Altria Group by 17.8% during the 1st quarter. GAMMA Investing LLC now owns 36,028 shares of the company's stock valued at $2,162,000 after purchasing an additional 5,440 shares during the period. Institutional investors own 57.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and lifted their target price for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Jefferies Financial Group assumed coverage on Altria Group in a research note on Wednesday, July 9th. They set an "underperform" rating and a $50.00 target price on the stock. Stifel Nicolaus set a $72.00 target price on Altria Group in a research note on Thursday, August 21st. Needham & Company LLC raised Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Finally, Barclays raised their price target on Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Altria Group presently has a consensus rating of "Hold" and an average target price of $60.88.

Altria Group Price Performance

NYSE MO opened at $64.85 on Tuesday. The stock has a market capitalization of $108.94 billion, a PE ratio of 12.54, a P/E/G ratio of 3.58 and a beta of 0.59. The business has a 50 day simple moving average of $63.38 and a two-hundred day simple moving average of $60.23. Altria Group, Inc. has a 1-year low of $48.86 and a 1-year high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The firm's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, analysts anticipate 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. Stockholders of record on Monday, September 15th will be issued a $1.06 dividend. This is a positive change from Altria Group's previous quarterly dividend of $1.02. The ex-dividend date 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 (DPR) 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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