Mirae Asset Global Investments Co. Ltd. Purchases 113,863 Shares of Altria Group, Inc. $MO

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Altria Group by 6.8%, acquiring an additional 113,863 shares to bring its total ownership to approximately 1.8 million shares, valued at over $105 million.
• The dividend for Altria Group has increased from $1.02 to $1.06 per share, representing a dividend yield of 6.4%, with payment scheduled for October 10th.
• Analysts have mixed views on Altria Group, with price targets ranging from $50 to $72, resulting in an average consensus rating of "Hold" and a price target of $60.88.

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 6.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,795,899 shares of the company's stock after purchasing an additional 113,863 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.11% of Altria Group worth $105,294,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mattson Financial Services LLC bought a new position in shares of Altria Group during the 1st quarter valued at approximately $25,000. Global X Japan Co. Ltd. bought a new position in shares of Altria Group during the 2nd quarter valued at approximately $25,000. Carderock Capital Management Inc. bought a new position in shares of Altria Group during the 2nd quarter valued at approximately $26,000. Sierra Ocean LLC grew its stake in shares of Altria Group by 226.3% during the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock valued at $31,000 after acquiring an additional 353 shares during the period. Finally, Inlight Wealth Management LLC bought a new position in shares of Altria Group during the 1st quarter valued at approximately $31,000. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MO has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on Altria Group from $57.00 to $62.00 and gave the company 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 research note on Thursday, August 21st. Barclays boosted their price objective on Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Jefferies Financial Group began coverage on Altria Group in a research note on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective for the company. Finally, Bank of America boosted their price target on Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Altria Group presently has an average rating of "Hold" and a consensus price target of $60.88.

Altria Group Trading Down 0.8%

NYSE MO opened at $65.74 on Friday. The stock's 50 day moving average is $65.07 and its 200 day moving average is $60.86. Altria Group, Inc. has a 12 month low of $48.86 and a 12 month high of $68.60. The stock has a market cap of $110.44 billion, a PE ratio of 12.72, a P/E/G ratio of 3.56 and a beta of 0.55.

Altria Group (NYSE:MO - Get Free Report) last posted 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 company 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 earned $1.31 EPS. The firm's 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, analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Increases Dividend

The company also recently disclosed 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. This is a positive change 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 annualized dividend and a dividend yield of 6.4%. 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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