GLOBALT Investments LLC GA Cuts Stock Holdings in Altria Group, Inc. $MO

GLOBALT Investments LLC GA lessened its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,744 shares of the company's stock after selling 4,481 shares during the quarter. GLOBALT Investments LLC GA's holdings in Altria Group were worth $3,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MO. Brighton Jones LLC raised its position in Altria Group by 64.7% in the fourth quarter. Brighton Jones LLC now owns 17,702 shares of the company's stock worth $926,000 after acquiring an additional 6,954 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Altria Group by 17.8% during the 1st quarter. GAMMA Investing LLC now owns 36,028 shares of the company's stock worth $2,162,000 after purchasing an additional 5,440 shares during the period. Golden State Equity Partners lifted its stake in shares of Altria Group by 5.0% in the first quarter. Golden State Equity Partners now owns 11,635 shares of the company's stock valued at $698,000 after purchasing an additional 549 shares during the period. Spire Wealth Management lifted its stake in shares of Altria Group by 0.8% in the first quarter. Spire Wealth Management now owns 29,056 shares of the company's stock valued at $1,744,000 after purchasing an additional 239 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in Altria Group by 130.9% during the first quarter. Golden State Wealth Management LLC now owns 12,837 shares of the company's stock worth $771,000 after buying an additional 7,278 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company's stock.

Altria Group Stock Performance

Shares of NYSE:MO opened at $64.62 on Friday. The business's fifty day moving average price is $65.79 and its two-hundred day moving average price is $61.62. The stock has a market cap of $108.55 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 3.58 and a beta of 0.55. Altria Group, Inc. has a one year low of $49.58 and a one year high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly 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 company had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 15th were issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.6%. This is a boost from Altria Group's previous quarterly dividend of $1.02. The ex-dividend date was Monday, September 15th. Altria Group's payout ratio is presently 82.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Jefferies Financial Group began coverage on shares of Altria Group in a report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 target price for the company. Stifel Nicolaus set a $72.00 price objective on Altria Group in a research note on Thursday, August 21st. The Goldman Sachs Group lifted their price objective on Altria Group from $65.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and upped their target price for the company from $47.00 to $59.00 in a report on Wednesday, July 2nd. Finally, Bank of America boosted their price objective on shares of Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Altria Group has an average rating of "Hold" and an average price target of $62.11.

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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