NewEdge Advisors LLC Raises Stock Holdings in Altria Group, Inc. $MO

Key Points

• NewEdge Advisors LLC has increased its stake in Altria Group, Inc. by 8.8%, now owning 290,718 shares valued at approximately $17.4 million.
• Altria Group recently declared a quarterly dividend of $1.06 per share, which represents a 6.4% dividend yield and an increase from its previous dividend of $1.02.
• Analysts have adjusted their price targets for Altria Group, with Barclays setting a new target at $57.00, while Stifel Nicolaus set a target at $72.00, indicating mixed sentiments about the stock's future performance.

NewEdge Advisors LLC lifted its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 8.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 290,718 shares of the company's stock after buying an additional 23,553 shares during the quarter. NewEdge Advisors LLC's holdings in Altria Group were worth $17,449,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MO. Brighton Jones LLC grew its position in shares of Altria Group by 64.7% in the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company's stock worth $926,000 after buying an additional 6,954 shares during the period. Fred Alger Management LLC grew its position in Altria Group by 71.0% during the 4th quarter. Fred Alger Management LLC now owns 145,129 shares of the company's stock valued at $7,737,000 after purchasing an additional 60,266 shares during the last quarter. First Manhattan CO. LLC. grew its position in Altria Group by 7.1% during the 4th quarter. First Manhattan CO. LLC. now owns 119,739 shares of the company's stock valued at $6,261,000 after purchasing an additional 7,936 shares during the last quarter. Ethic Inc. raised its holdings in Altria Group by 84.1% in the 4th quarter. Ethic Inc. now owns 30,632 shares of the company's stock worth $1,602,000 after acquiring an additional 13,991 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in Altria Group by 59.1% in the 4th quarter. Focus Partners Wealth now owns 171,727 shares of the company's stock worth $9,805,000 after acquiring an additional 63,781 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Up 0.5%

NYSE:MO traded up $0.36 on Thursday, hitting $66.59. The stock had a trading volume of 3,204,289 shares, compared to its average volume of 8,940,380. The stock has a market cap of $111.86 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 3.56 and a beta of 0.59. The business's 50-day simple moving average is $63.01 and its two-hundred day simple moving average is $59.94. 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 announced its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.21 billion. During the same period last year, the firm posted $1.31 earnings per share. The business's revenue for the quarter was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, equities research 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 will be paid on Friday, October 10th. Shareholders of record on Monday, September 15th will be given a $1.06 dividend. 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 yield of 6.4%. Altria Group's dividend payout ratio (DPR) is currently 78.92%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MO shares. Stifel Nicolaus set a $72.00 price objective on shares of Altria Group in a report on Thursday, August 21st. Morgan Stanley boosted their target price on Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Barclays boosted their target price on Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Bank of America boosted their target price on Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Finally, UBS Group raised Altria Group from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.