Mutual of America Capital Management LLC Sells 3,917 Shares of Altria Group, Inc. $MO

Key Points

• Mutual of America Capital Management LLC reduced its holdings in Altria Group by 2.0%, selling 3,917 shares, and now holds 192,888 shares valued at approximately $11.3 million.
• Several analysts have upgraded their price targets for Altria Group, with Bank of America and Goldman Sachs each increasing their target from $64 and $65 to $72, indicating a positive outlook on the stock.
• Altria Group has recently increased its quarterly dividend to $1.06 per share, yielding 6.5%, reflecting a strong commitment to returning value to shareholders.

Mutual of America Capital Management LLC lowered its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 192,888 shares of the company's stock after selling 3,917 shares during the quarter. Mutual of America Capital Management LLC's holdings in Altria Group were worth $11,309,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Altria Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 158,117,225 shares of the company's stock valued at $9,490,196,000 after acquiring an additional 1,300,787 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Altria Group by 5.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company's stock worth $3,798,592,000 after buying an additional 3,483,487 shares during the last quarter. GQG Partners LLC grew its stake in Altria Group by 8,146.4% during the first quarter. GQG Partners LLC now owns 18,698,594 shares of the company's stock worth $1,122,290,000 after buying an additional 18,471,846 shares during the last quarter. Invesco Ltd. grew its stake in Altria Group by 3.7% during the first quarter. Invesco Ltd. now owns 12,243,041 shares of the company's stock worth $734,827,000 after buying an additional 441,083 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Altria Group by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 11,961,220 shares of the company's stock worth $717,913,000 after buying an additional 3,415,237 shares during the last quarter. Institutional investors own 57.41% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Bank of America upped their price objective on shares of Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. The Goldman Sachs Group upped their price objective on shares of Altria Group from $65.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Altria Group in a research note on Wednesday, October 8th. Jefferies Financial Group assumed coverage on shares of Altria Group in a research note on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on shares of Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Four 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, Altria Group has an average rating of "Hold" and an average price target of $62.11.

Altria Group Price Performance

MO opened at $65.00 on Monday. Altria Group, Inc. has a one year low of $48.86 and a one year high of $68.60. The company's 50 day simple moving average is $65.90 and its 200-day simple moving average is $61.46. The stock has a market capitalization of $109.19 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 3.62 and a beta of 0.55.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 EPS 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 business had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.21 billion. During the same period in the prior year, the firm earned $1.31 earnings per share. Altria Group'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. As a group, analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 15th were paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 6.5%. This is an increase from Altria Group's previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Monday, September 15th. 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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