Greenleaf Trust Sells 9,377 Shares of Altria Group, Inc. $MO

Key Points

• Greenleaf Trust reduced its stake in Altria Group by 21.9%, selling 9,377 shares, bringing its total to 33,358 shares, valued at approximately $1.96 million.
• Analysts have set a new average price target of $60.88 for Altria Group, with ratings varying from "Buy" to "Sell" across different institutions.
• Altria Group recently declared a quarterly dividend of $1.06 per share, increased from $1.02, representing an annualized yield of 6.4%.

Greenleaf Trust trimmed its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 21.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,358 shares of the company's stock after selling 9,377 shares during the quarter. Greenleaf Trust's holdings in Altria Group were worth $1,956,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Jacobi Capital Management LLC boosted its stake in Altria Group by 0.6% in the 1st quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company's stock worth $1,581,000 after purchasing an additional 168 shares during the period. Vista Investment Partners II LLC boosted its stake in Altria Group by 4.2% in the 1st quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company's stock worth $258,000 after purchasing an additional 174 shares during the period. Wealth Alliance LLC boosted its stake in Altria Group by 1.9% in the 1st quarter. Wealth Alliance LLC now owns 9,452 shares of the company's stock worth $567,000 after purchasing an additional 174 shares during the period. Patten & Patten Inc. TN boosted its stake in Altria Group by 1.5% in the 1st quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company's stock worth $723,000 after purchasing an additional 174 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC boosted its stake in Altria Group by 2.7% in the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company's stock worth $406,000 after purchasing an additional 175 shares during the period. 57.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MO has been the subject of several recent analyst reports. Morgan Stanley upped their price target on Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Stifel Nicolaus set a $72.00 price objective on Altria Group in a report on Thursday, August 21st. Bank of America upped their price objective on Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Finally, Barclays upped their price objective on Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $60.88.

Altria Group Stock Performance

NYSE:MO opened at $66.10 on Wednesday. The stock's fifty day moving average is $64.82 and its 200 day moving average is $60.77. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $68.60. The firm has a market capitalization of $111.04 billion, a PE ratio of 12.79, a PEG ratio of 3.53 and a beta of 0.59.

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, beating the consensus estimate of $1.37 by $0.07. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same quarter in the prior year, the firm posted $1.31 EPS. 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. Equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 15th will be issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 6.4%. The ex-dividend date is Monday, September 15th. This is a boost from Altria Group's previous quarterly dividend of $1.02. Altria Group's payout ratio is currently 82.01%.

Altria Group 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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