Gerald Baker Financial Group LLC Invests $3.03 Million in Altria Group, Inc. $MO

Key Points

• Gerald Baker Financial Group LLC opened a new position in Altria Group, buying 45,893 shares worth about $3.03 million in the first quarter. The stake now represents roughly 1.0% of the firm’s portfolio.
• Institutional interest in Altria remains strong, with several other hedge funds and investment firms increasing their holdings. Overall, institutional investors and hedge funds own 57.41% of the company.
• Analysts remain mixed on Altria, with a consensus rating of “Hold” and an average price target of $70.78. Meanwhile, the company recently beat earnings estimates and continues to offer a high dividend yield of 5.8%.

Gerald Baker Financial Group LLC purchased a new stake in Altria Group, Inc. (NYSE:MO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 45,893 shares of the company's stock, valued at approximately $3,028,000. Altria Group makes up about 1.0% of Gerald Baker Financial Group LLC's investment portfolio, making the stock its 29th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its holdings in Altria Group by 6.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 379,527 shares of the company's stock worth $24,851,000 after buying an additional 21,455 shares in the last quarter. Frisch Financial Group Inc. grew its position in Altria Group by 18.8% during the first quarter. Frisch Financial Group Inc. now owns 8,754 shares of the company's stock worth $586,000 after buying an additional 1,384 shares during the period. Independent Financial Group LLC purchased a new position in Altria Group in the first quarter valued at about $2,490,000. Wealthfront Advisers LLC increased its holdings in Altria Group by 6.0% in the first quarter. Wealthfront Advisers LLC now owns 310,052 shares of the company's stock valued at $20,460,000 after buying an additional 17,454 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Altria Group by 8.0% during the 1st quarter. D.A. Davidson & CO. now owns 364,763 shares of the company's stock valued at $24,071,000 after acquiring an additional 27,055 shares during the period. Institutional investors and hedge funds own 57.41% of the company's stock.

Wall Street Analysts Forecast Growth

MO has been the topic of several research analyst reports. Stifel Nicolaus boosted their price target on Altria Group from $68.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $77.00 price objective on shares of Altria Group in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Altria Group in a report on Tuesday. Wall Street Zen downgraded Altria Group from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. Finally, Barclays upped 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. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $70.78.

Insiders Place Their Bets

In related news, Director Ennis Debra J. Kelly sold 5,790 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $418,327.50. Following the sale, the director owned 73,809 shares of the company's stock, valued at $5,332,700.25. This trade represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ellen R. Strahlman sold 2,000 shares of Altria Group 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 sale, the director owned 25,102 shares of the company's stock, valued at approximately $1,821,401.12. This represents a 7.38% decrease in their position. The SEC filing for this sale provides additional information. 0.10% of the stock is owned by company insiders.

Altria Group Price Performance

Shares of Altria Group stock opened at $73.00 on Friday. Altria Group, Inc. has a 1 year low of $54.70 and a 1 year high of $74.56. The company has a market capitalization of $121.90 billion, a P/E ratio of 15.27, a P/E/G ratio of 2.55 and a beta of 0.45. The business has a 50 day moving average price of $71.60 and a 200 day moving average price of $67.16.

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

Altria Group Dividend Announcement

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

Altria Group Profile

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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