Lifestyle Asset Management Inc. Makes New Investment in Altria Group, Inc. $MO

Key Points

• Lifestyle Asset Management Inc. has acquired a new stake in Altria Group, Inc., purchasing 4,342 shares valued at approximately $255,000 during the second quarter.
• Altria Group's stock price has been fluctuating, currently sitting at $64.85, with a recent quarterly earnings report showing an EPS of $1.44, exceeding expectations.
• The company recently increased its quarterly dividend to $1.06 per share, with a yield of 6.5%, and the dividend will be paid to investors on October 10th.

Lifestyle Asset Management Inc. purchased a new stake in Altria Group, Inc. (NYSE:MO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,342 shares of the company's stock, valued at approximately $255,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jacobi Capital Management LLC raised its holdings 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 acquiring an additional 168 shares during the period. Vista Investment Partners II LLC boosted its stake in shares of Altria Group by 4.2% during the 1st quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company's stock worth $258,000 after acquiring an additional 174 shares in the last quarter. Wealth Alliance LLC grew 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 valued at $567,000 after buying an additional 174 shares during the last quarter. Patten & Patten Inc. TN lifted its position in shares of Altria Group by 1.5% during 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 last quarter. Finally, Baron Silver Stevens Financial Advisors LLC lifted its stake in shares of Altria Group by 2.7% in the first quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company's stock valued at $406,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 57.41% of the company's stock.

Altria Group Stock Performance

Altria Group stock traded up $0.91 during midday trading on Friday, hitting $64.85. 22,701,500 shares of the company's stock were exchanged, compared to its average volume of 7,234,591. The stock has a 50-day moving average price of $63.89 and a two-hundred day moving average price of $60.40. The company has a market cap of $108.94 billion, a P/E ratio of 12.54, a PEG ratio of 3.44 and a beta of 0.59. Altria Group, Inc. has a 52-week low of $48.86 and a 52-week high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.37 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The company's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current 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 issued a dividend of $1.06 per share. The ex-dividend date is Monday, September 15th. This is a positive change from Altria Group's previous quarterly dividend of $1.02. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.5%. Altria Group's dividend payout ratio is currently 82.01%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Morgan Stanley lifted their price objective 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 increased their price target on Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Stifel Nicolaus set a $72.00 price objective on Altria Group in a research report on Thursday, August 21st. 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 price objective on the stock. Finally, Bank of America raised their target price 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 analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $60.88.

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.