Kathmere Capital Management LLC Raises Position in Altria Group, Inc. $MO

Key Points

• Kathmere Capital Management LLC increased its stake in Altria Group by 13.2% in Q2, acquiring an additional 6,117 shares, bringing its total holdings to 52,404 shares worth approximately $3.07 million.
• Altria Group announced a quarterly dividend increase to $1.06, up from $1.02, representing an annualized yield of 6.5% and a payout ratio of 82.01%.
• Altria reported $1.44 earnings per share for the most recent quarter, exceeding analyst expectations of $1.37, with revenue of $5.29 billion, slightly above estimates.

Kathmere Capital Management LLC boosted its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 13.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,404 shares of the company's stock after buying an additional 6,117 shares during the period. Kathmere Capital Management LLC's holdings in Altria Group were worth $3,072,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Jacobi Capital Management LLC increased its stake in shares of Altria Group by 0.6% during the first quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company's stock valued at $1,581,000 after purchasing an additional 168 shares in the last quarter. Vista Investment Partners II LLC increased its stake in shares of Altria Group by 4.2% during the first quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company's stock valued at $258,000 after purchasing an additional 174 shares in the last quarter. Wealth Alliance LLC increased its stake in shares of Altria Group by 1.9% during the first quarter. Wealth Alliance LLC now owns 9,452 shares of the company's stock valued at $567,000 after purchasing an additional 174 shares in the last quarter. Patten & Patten Inc. TN increased its stake in shares of Altria Group by 1.5% during the first quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company's stock valued at $723,000 after purchasing an additional 174 shares in the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC increased its stake in shares of Altria Group by 2.7% during the first quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company's stock valued at $406,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 57.41% of the company's stock.

Altria Group Stock Up 0.7%

Shares of MO opened at $65.67 on Friday. The company has a market capitalization of $110.32 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 3.51 and a beta of 0.59. The firm has a 50 day moving average of $64.55 and a 200 day moving average of $60.65. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last announced 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 net margin of 37.24% and a negative return on equity of 295.26%. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.21 billion. During the same quarter last year, the firm earned $1.31 earnings per share. The firm'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. On average, sell-side analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 15th will be given a $1.06 dividend. This is a boost from Altria Group's previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.24 dividend on an annualized basis and a yield of 6.5%. Altria Group's payout ratio is presently 82.01%.

Analyst Ratings Changes

MO has been the subject of a number of analyst reports. Stifel Nicolaus set a $72.00 target price on shares of Altria Group in a research note on Thursday, August 21st. UBS Group raised shares of Altria Group from a "sell" rating to a "neutral" rating and raised their target price for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Morgan Stanley raised their target price on shares of Altria Group from $57.00 to $62.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Jefferies Financial Group began coverage on shares of Altria Group in a research note on Wednesday, July 9th. They set an "underperform" rating and a $50.00 target price for the company. Finally, Bank of America raised their price target on shares of Altria Group from $64.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Two equities research 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.com, Altria Group presently has an average rating of "Hold" and an average target price of $60.88.

About Altria Group

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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