Fifth Third Wealth Advisors LLC Has $1.83 Million Position in Altria Group, Inc. $MO

Key Points

• Fifth Third Wealth Advisors LLC significantly increased its stake in Altria Group, Inc. by 62.5%, now holding shares worth $1.83 million as of their latest SEC filing.
• Altria recently reported earnings of $1.44 per share, exceeding expectations, alongside a revenue of $5.29 billion for the quarter, marking a modest year-over-year increase.
• The company announced a quarterly dividend of $1.06, raising the annualized yield to 6.4%, up from the previous $1.02 dividend.

Fifth Third Wealth Advisors LLC raised its position in Altria Group, Inc. (NYSE:MO - Free Report) by 62.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,258 shares of the company's stock after purchasing an additional 12,019 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Altria Group were worth $1,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Louisbourg Investments Inc. increased its stake in shares of Altria Group by 58.1% in the second quarter. Louisbourg Investments Inc. now owns 1,360 shares of the company's stock valued at $80,000 after buying an additional 500 shares during the period. Trust Co. of Toledo NA OH grew its holdings in Altria Group by 12.9% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 26,807 shares of the company's stock worth $1,572,000 after acquiring an additional 3,054 shares during the last quarter. Aberdeen Group plc grew its holdings in Altria Group by 12.1% during the 2nd quarter. Aberdeen Group plc now owns 237,793 shares of the company's stock worth $13,894,000 after acquiring an additional 25,750 shares during the last quarter. Lmcg Investments LLC grew its holdings in Altria Group by 6.3% during the 2nd quarter. Lmcg Investments LLC now owns 23,644 shares of the company's stock worth $1,386,000 after acquiring an additional 1,397 shares during the last quarter. Finally, Zullo Investment Group Inc. raised its stake in shares of Altria Group by 4.5% during the second quarter. Zullo Investment Group Inc. now owns 7,211 shares of the company's stock valued at $423,000 after acquiring an additional 313 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors.

Altria Group Price Performance

NYSE MO opened at $66.54 on Friday. The stock has a market capitalization of $111.78 billion, a P/E ratio of 12.87, a P/E/G ratio of 3.70 and a beta of 0.55. The business has a 50 day simple moving average of $65.72 and a 200 day simple moving average of $61.22. Altria Group, Inc. has a one year low of $48.86 and a one year high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Equities analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 15th were paid a $1.06 dividend. The ex-dividend date was Monday, September 15th. This represents a $4.24 annualized dividend and a dividend yield of 6.4%. This is a boost from Altria Group's previous quarterly dividend of $1.02. Altria Group's dividend payout ratio (DPR) is 82.01%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MO shares. The Goldman Sachs Group lifted their price target on shares of Altria Group from $65.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. Morgan Stanley raised their target price on Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Barclays raised their target price on Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Jefferies Financial Group assumed coverage on Altria Group in a research report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 target price for the company. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Altria Group in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Altria Group currently has an average rating of "Hold" and a consensus 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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