Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Holdings in Altria Group, Inc. $MO

Key Points

• Empirical Wealth Management increased its stake in Altria Group by 3.3%, now owning 322,451 shares valued at approximately $18.9 million.
• Altria Group recently raised its quarterly dividend from $1.02 to $1.06 per share, providing a yield of 6.4%.
• Analysts have mixed views on Altria, with a consensus rating of "Hold" and a target price averaging $60.88.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 322,451 shares of the company's stock after buying an additional 10,181 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Altria Group were worth $18,907,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MO. Mattson Financial Services LLC purchased a new position in Altria Group during the first quarter valued at approximately $25,000. Global X Japan Co. Ltd. purchased a new position in Altria Group in the second quarter worth $25,000. Carderock Capital Management Inc. purchased a new position in Altria Group in the second quarter worth $26,000. Inlight Wealth Management LLC purchased a new position in Altria Group in the first quarter worth $31,000. Finally, Sierra Ocean LLC grew its holdings in Altria Group by 226.3% in the first quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after purchasing an additional 353 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. 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 on the stock. Bank of America lifted 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. Morgan Stanley lifted 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. Barclays lifted 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. Finally, Stifel Nicolaus set a $72.00 price target on shares of Altria Group in a report on Thursday, August 21st. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $60.88.

Altria Group Trading Down 0.8%

NYSE:MO opened at $65.74 on Friday. Altria Group, Inc. has a 12 month low of $48.86 and a 12 month high of $68.60. The firm has a fifty day simple moving average of $65.07 and a 200-day simple moving average of $60.86. The company has a market capitalization of $110.44 billion, a P/E ratio of 12.72, a PEG ratio of 3.56 and a beta of 0.55.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.37 by $0.07. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.21 billion. During the same period in the previous year, the firm posted $1.31 earnings per share. The business's revenue for the quarter was up .2% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors 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. This represents a $4.24 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Monday, September 15th. Altria Group's payout ratio is presently 82.01%.

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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