HB Wealth Management LLC Has $5.79 Million Stock Position in Altria Group, Inc. $MO

Key Points

• HB Wealth Management LLC reduced its position in Altria Group, Inc. by 6.3% in the second quarter, holding 98,825 shares valued at $5.79 million.
• Altria Group reported quarterly earnings of $1.44 EPS, exceeding analysts' forecasts, and had a revenue of $5.29 billion, reflecting a slight year-on-year increase.
• The company recently declared a quarterly dividend of $1.06 per share, increasing from the previous $1.02, leading to a dividend yield of 6.4%.

HB Wealth Management LLC cut its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 6.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,825 shares of the company's stock after selling 6,622 shares during the period. HB Wealth Management LLC's holdings in Altria Group were worth $5,794,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Kavar Capital Partners Group LLC grew its position in shares of Altria Group by 1.9% during the 2nd quarter. Kavar Capital Partners Group LLC now owns 32,535 shares of the company's stock worth $1,908,000 after purchasing an additional 600 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC boosted its stake in shares of Altria Group by 17.2% in the second quarter. Baron Silver Stevens Financial Advisors LLC now owns 7,924 shares of the company's stock valued at $465,000 after buying an additional 1,162 shares during the period. Wolff Wiese Magana LLC boosted its stake in shares of Altria Group by 56.1% in the second quarter. Wolff Wiese Magana LLC now owns 1,263 shares of the company's stock valued at $74,000 after buying an additional 454 shares during the period. Archford Capital Strategies LLC grew its position in Altria Group by 49.4% during the second quarter. Archford Capital Strategies LLC now owns 116,956 shares of the company's stock worth $6,857,000 after buying an additional 38,655 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Altria Group by 3.7% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 10,492 shares of the company's stock worth $615,000 after acquiring an additional 370 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 subject of a number of recent analyst reports. Morgan Stanley upped their target price on Altria Group from $57.00 to $62.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Barclays upped their price objective on shares of 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 shares of Altria Group in a report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 target price on the stock. Stifel Nicolaus set a $72.00 price target on shares of Altria Group in a report on Thursday, August 21st. Finally, UBS Group raised shares of Altria Group from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Two equities research 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $60.88.

Altria Group Trading Up 0.7%

MO stock opened at $66.10 on Wednesday. The firm has a 50-day moving average price of $64.82 and a 200-day moving average price of $60.77. Altria Group, Inc. has a 12 month low of $48.86 and a 12 month high of $68.60. The stock has a market capitalization of $111.04 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) 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 analysts' expectations of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The firm's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, equities analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 15th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Monday, September 15th. This is a positive change from Altria Group's previous quarterly dividend of $1.02. Altria Group's dividend 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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