Envestnet Portfolio Solutions Inc. Purchases 61,147 Shares of Altria Group, Inc. $MO

Key Points

• Envestnet Portfolio Solutions Inc. increased its holdings in Altria Group by 26.9%, acquiring 61,147 additional shares for a total of 288,324 shares valued at approximately $16.9 million.
• Altria Group announced a quarterly dividend increase to $1.06 per share, reflecting a yield of 6.5% and a payout ratio of 82.01%.
• Altria's stock has a market capitalization of $109.07 billion and a recent P/E ratio of 12.56, with analysts maintaining a consensus rating of "Hold" and an average target price of $62.11.

Envestnet Portfolio Solutions Inc. grew its position in Altria Group, Inc. (NYSE:MO - Free Report) by 26.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,324 shares of the company's stock after purchasing an additional 61,147 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Altria Group were worth $16,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of MO. GQG Partners LLC boosted its position in shares of Altria Group by 8,146.4% in the first quarter. GQG Partners LLC now owns 18,698,594 shares of the company's stock worth $1,122,290,000 after purchasing an additional 18,471,846 shares during the period. Nuveen LLC bought a new position in shares of Altria Group in the first quarter worth approximately $219,141,000. Charles Schwab Investment Management Inc. boosted its position in shares of Altria Group by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company's stock worth $3,798,592,000 after purchasing an additional 3,483,487 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Altria Group by 40.0% in the first quarter. JPMorgan Chase & Co. now owns 11,961,220 shares of the company's stock worth $717,913,000 after purchasing an additional 3,415,237 shares during the period. Finally, Raymond James Financial Inc. boosted its position in shares of Altria Group by 111.3% in the first quarter. Raymond James Financial Inc. now owns 5,558,252 shares of the company's stock worth $333,606,000 after purchasing an additional 2,928,006 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Altria Group Stock Down 2.4%

MO stock opened at $64.92 on Tuesday. Altria Group, Inc. has a 52 week low of $48.86 and a 52 week high of $68.60. The company has a fifty day simple moving average of $65.78 and a two-hundred day simple moving average of $61.29. The firm has a market capitalization of $109.07 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 3.70 and a beta of 0.55.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, beating 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 analyst estimates of $5.21 billion. During the same quarter last year, the business earned $1.31 earnings per share. Altria Group's quarterly revenue was up .2% compared to the same quarter last year. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 15th were given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 6.5%. This is an increase from Altria Group's previous quarterly dividend of $1.02. The ex-dividend date was Monday, September 15th. Altria Group's dividend payout ratio (DPR) is 82.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MO shares. Weiss Ratings restated a "buy (b)" rating on shares of Altria Group in a research report on Wednesday, October 8th. Stifel Nicolaus set a $72.00 target price on shares of Altria Group in a research report on Thursday, August 21st. Jefferies Financial Group started coverage on shares of Altria Group in a research report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 target price for the company. UBS Group upgraded shares of 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 report on Wednesday, July 2nd. Finally, Morgan Stanley upped their target price on shares of Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Altria Group has a consensus rating of "Hold" and an average price target of $62.11.

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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