First Citizens Bank & Trust Co. Buys 81,092 Shares of Altria Group, Inc. $MO

Key Points

• First Citizens Bank & Trust Co. boosted its Altria Group stake by 24% in the first quarter, buying 81,092 shares and bringing its total holdings to 419,035 shares valued at about $27.7 million.
• Altria reported stronger-than-expected Q1 earnings, with EPS of $1.32 versus estimates of $1.25 and revenue of $4.76 billion, up 5.3% year over year.
• The company continues to pay a high dividend, recently distributing $1.06 per share quarterly for an annualized yield of 5.8%, though analysts are mixed with a consensus rating of Hold.

First Citizens Bank & Trust Co. lifted its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 24.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 419,035 shares of the company's stock after purchasing an additional 81,092 shares during the quarter. Altria Group accounts for 0.5% of First Citizens Bank & Trust Co.'s holdings, making the stock its 28th biggest holding. First Citizens Bank & Trust Co.'s holdings in Altria Group were worth $27,652,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of MO. Darwin Wealth Management LLC acquired a new stake in Altria Group during the second quarter worth about $27,000. Navalign LLC acquired a new position in shares of Altria Group in the 4th quarter valued at approximately $28,000. Creative Capital Management Investments LLC acquired a new position in shares of Altria Group in the 4th quarter valued at approximately $29,000. Miller Capital Partners Inc. acquired a new position in shares of Altria Group in the 4th quarter valued at approximately $29,000. Finally, Hughes Financial Services LLC lifted its holdings in shares of Altria Group by 62.9% during the 4th quarter. Hughes Financial Services LLC now owns 510 shares of the company's stock worth $29,000 after acquiring an additional 197 shares during the period. Institutional investors own 57.41% of the company's stock.

Altria Group Trading Down 2.2%

MO stock opened at $73.05 on Wednesday. The firm has a 50-day moving average price of $71.90 and a 200-day moving average price of $67.50. Altria Group, Inc. has a 12 month low of $54.70 and a 12 month high of $75.28. The stock has a market capitalization of $121.99 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 2.70 and a beta of 0.45.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.58 billion. Altria Group had a net margin of 34.34% and a negative return on equity of 298.69%. The firm's revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 EPS. Altria Group has set its FY 2026 guidance at 5.560-5.72 EPS. As a group, equities analysts predict that Altria Group, Inc. will post 5.7 EPS for the current fiscal year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 15th were paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Monday, June 15th. Altria Group's dividend payout ratio is presently 88.70%.

Insiders Place Their Bets

In other Altria Group news, Director Ellen R. Strahlman sold 2,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total value of $145,120.00. Following the completion of the transaction, the director directly owned 25,102 shares in the company, valued at approximately $1,821,401.12. This trade represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ennis Debra J. Kelly sold 5,790 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total value of $418,327.50. Following the sale, the director owned 73,809 shares in the company, valued at approximately $5,332,700.25. This trade represents a 7.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley set a $71.00 price target on shares of Altria Group in a research report on Friday, May 1st. Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. Weiss Ratings restated a "buy (b)" rating on shares of Altria Group in a research note on Tuesday, July 14th. Barclays raised their target price on Altria Group from $63.00 to $64.00 and gave the company an "underweight" rating in a report on Friday, May 15th. Finally, Jefferies Financial Group lifted their price target on Altria Group from $50.00 to $60.00 and gave the company an "underperform" rating in a research note on Wednesday, May 27th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $70.78.

About Altria Group

Altria Group, Inc NYSE: MO is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company's operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria's principal operating businesses include Philip Morris USA (cigarettes), U.S.

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