Octavia Wealth Advisors LLC Has $6.08 Million Stock Holdings in Altria Group, Inc. $MO

Key Points

• Octavia Wealth Advisors LLC reduced its stake in Altria Group by 11.2%, now holding 101,997 shares valued at approximately $6.08 million.
• Several hedge funds have recently adjusted their positions in Altria, with significant new investments around $25,000 to $31,000 during the first and second quarters.
• Altria Group is increasing its quarterly dividend to $1.06 per share, marking a rise from the previous $1.02, with a current dividend yield of 6.5%.

Octavia Wealth Advisors LLC lowered its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 11.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 101,997 shares of the company's stock after selling 12,879 shares during the period. Altria Group makes up approximately 0.7% of Octavia Wealth Advisors LLC's portfolio, making the stock its 28th biggest holding. Octavia Wealth Advisors LLC's holdings in Altria Group were worth $6,082,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MO. Mattson Financial Services LLC acquired a new position in Altria Group during the 1st quarter valued at about $25,000. Global X Japan Co. Ltd. purchased a new position in shares of Altria Group in the 2nd quarter worth approximately $25,000. Carderock Capital Management Inc. purchased a new position in shares of Altria Group in the 2nd quarter worth approximately $26,000. Inlight Wealth Management LLC purchased a new position in shares of Altria Group in the 1st quarter worth approximately $31,000. Finally, Sierra Ocean LLC boosted its stake in shares of Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after buying an additional 353 shares during the last quarter. Institutional investors and hedge funds own 57.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays boosted their target price on Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. Morgan Stanley lifted their price target on shares of Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Jefferies Financial Group began coverage on shares of Altria Group in a report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price target on the stock. Stifel Nicolaus set a $72.00 price target on shares of Altria Group in a report on Thursday, August 21st. Finally, UBS Group raised shares of Altria Group from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Two equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $60.88.

Altria Group Price Performance

Shares of MO stock opened at $65.18 on Thursday. The company's fifty day simple moving average is $64.26 and its two-hundred day simple moving average is $60.56. Altria Group, Inc. has a 1 year low of $48.86 and a 1 year high of $68.60. The stock has a market capitalization of $109.49 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 3.49 and a beta of 0.59.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter 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. Equities research analysts anticipate that Altria Group, Inc. will post 5.32 EPS 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 given a dividend of $1.06 per share. This is an increase from Altria Group's previous quarterly dividend of $1.02. The ex-dividend date is Monday, September 15th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.5%. Altria Group's dividend payout ratio (DPR) is presently 82.01%.

About Altria Group

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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