D.A. Davidson & CO. Has $20.95 Million Holdings in Altria Group, Inc. $MO

Key Points

• D.A. Davidson & CO. increased its holdings in Altria Group by 17.7%, owning 357,324 shares valued at approximately $20.95 million after purchasing 53,709 additional shares.
• Altria Group recently reported earnings of $1.44 per share for the latest quarter, surpassing estimates and showing a slight revenue increase, while also increasing its quarterly dividend to $1.06 per share.
• Analysts have mixed views on Altria Group, with a consensus rating of "Hold" and a price target of $62.11, reflecting various estimations of future growth potential.

D.A. Davidson & CO. lifted its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 17.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 357,324 shares of the company's stock after buying an additional 53,709 shares during the quarter. D.A. Davidson & CO.'s holdings in Altria Group were worth $20,950,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mattson Financial Services LLC acquired a new stake in shares of Altria Group during the first quarter worth $25,000. Global X Japan Co. Ltd. acquired a new stake in shares of Altria Group during the second quarter worth $25,000. Carderock Capital Management Inc. acquired a new stake in shares of Altria Group during the second quarter worth $26,000. Sierra Ocean LLC increased its position in shares of Altria Group by 226.3% during the first quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after buying an additional 353 shares during the period. Finally, TruNorth Capital Management LLC increased its position in shares of Altria Group by 51.8% during 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 institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Barclays raised their price target on shares of Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Bank of America raised their price target on shares of Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Jefferies Financial Group assumed coverage on shares of Altria Group in a report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price target for the company. Finally, Morgan Stanley raised their price target on shares of Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Altria Group presently has a consensus rating of "Hold" and a consensus price target of $62.11.

Altria Group Price Performance

Shares of NYSE MO opened at $63.77 on Wednesday. The stock has a market capitalization of $107.13 billion, a P/E ratio of 12.34, a P/E/G ratio of 3.58 and a beta of 0.55. The company has a 50-day moving average price of $65.83 and a 200-day moving average price of $61.54. Altria Group, Inc. has a 1 year low of $49.16 and a 1 year high of $68.60.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The business's revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, equities research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 15th were issued a dividend of $1.06 per share. This is an increase from Altria Group's previous quarterly dividend of $1.02. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date was Monday, September 15th. Altria Group's dividend payout ratio 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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