Legacy Private Trust Co. Grows Stock Position in Altria Group, Inc. $MO

Key Points

• Legacy Private Trust Co. increased its stake in Altria Group by 46.1% in Q2, resulting in ownership of 27,450 shares valued at approximately $1.6 million.
• Altria Group recently announced a quarterly dividend of $1.06, marking an increase from the previous $1.02, with a current annualized dividend yield of 6.5%.
• Several analysts have recently adjusted their price targets for Altria Group, with Bank of America raising its target from $64.00 to $72.00, and a consensus rating of "Hold" across analysts.

Legacy Private Trust Co. lifted its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 46.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,450 shares of the company's stock after buying an additional 8,663 shares during the period. Legacy Private Trust Co.'s holdings in Altria Group were worth $1,609,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Gallacher Capital Management LLC increased its holdings in shares of Altria Group by 11.4% in the second quarter. Gallacher Capital Management LLC now owns 4,765 shares of the company's stock worth $279,000 after buying an additional 487 shares during the period. Wesbanco Bank Inc. increased its holdings in Altria Group by 3.5% during the 2nd quarter. Wesbanco Bank Inc. now owns 39,635 shares of the company's stock valued at $2,324,000 after purchasing an additional 1,356 shares during the period. Somerset Trust Co increased its holdings in Altria Group by 3.4% during the 2nd quarter. Somerset Trust Co now owns 6,601 shares of the company's stock valued at $387,000 after purchasing an additional 215 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Altria Group by 9.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,833 shares of the company's stock valued at $225,000 after purchasing an additional 331 shares during the period. Finally, Centurion Wealth Management LLC purchased a new position in Altria Group during the 2nd quarter valued at about $233,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Stock Performance

Altria Group stock opened at $64.85 on Tuesday. The stock's 50 day simple moving average is $63.38 and its two-hundred day simple moving average is $60.23. The stock has a market cap of $108.94 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 3.58 and a beta of 0.59. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.21 billion. During the same period in the previous year, the firm posted $1.31 EPS. The business's revenue for the quarter 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, analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 15th will be given a $1.06 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.5%. This is an increase from Altria Group's previous quarterly dividend of $1.02. Altria Group's payout ratio is presently 78.92%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MO shares. Jefferies Financial Group started coverage on Altria Group in a report on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price target on the stock. Morgan Stanley boosted their price target on Altria Group from $57.00 to $62.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Needham & Company LLC upgraded Altria Group to a "hold" rating in a report on Thursday, May 22nd. UBS Group upgraded Altria Group from a "sell" rating to a "neutral" rating and boosted their price target for the company from $47.00 to $59.00 in a report on Wednesday, July 2nd. Finally, Bank of America boosted their price target on Altria Group from $64.00 to $72.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $60.88.

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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