Rafferty Asset Management LLC Trims Stake in Altria Group, Inc. $MO

Key Points

• Rafferty Asset Management LLC has reduced its stock holdings in Altria Group, Inc. by 20.6%, selling 30,242 shares to hold a total of 116,867 shares valued at approximately $7 million.
• Altria Group recently increased its quarterly dividend to $1.06 per share, reflecting a yield of 6.4% and a payout ratio of 78.92%.
• The company reported a Q2 EPS of $1.44, beating estimates by $0.07, and posted revenue of $5.29 billion, slightly above the consensus forecast.

Rafferty Asset Management LLC trimmed its position in Altria Group, Inc. (NYSE:MO - Free Report) by 20.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 116,867 shares of the company's stock after selling 30,242 shares during the period. Rafferty Asset Management LLC's holdings in Altria Group were worth $7,014,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Inlight Wealth Management LLC acquired a new stake in Altria Group in the first quarter valued at $31,000. Sierra Ocean LLC boosted its position in shares of Altria Group by 226.3% during the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after purchasing an additional 353 shares in the last quarter. Pinney & Scofield Inc. bought a new position in Altria Group in the 4th quarter valued at about $33,000. TruNorth Capital Management LLC lifted its position in Altria Group by 51.8% in the 1st quarter. TruNorth Capital Management LLC now owns 636 shares of the company's stock valued at $38,000 after acquiring an additional 217 shares in the last quarter. Finally, Menard Financial Group LLC bought a new position in Altria Group in the 4th quarter valued at about $39,000. 57.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on MO. Bank of America lifted their price target on shares of Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Stifel Nicolaus set a $72.00 price objective on shares of Altria Group in a research note on Thursday, August 21st. UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley boosted their price target on shares of Altria Group from $57.00 to $62.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $60.88.

Altria Group Stock Up 1.2%

NYSE:MO traded up $0.79 during midday trading on Friday, hitting $67.21. The company had a trading volume of 5,929,232 shares, compared to its average volume of 7,513,975. Altria Group, Inc. has a 52-week low of $48.86 and a 52-week high of $68.60. The stock's fifty day moving average price is $61.82 and its 200-day moving average price is $59.23. The company has a market capitalization of $112.91 billion, a PE ratio of 13.00, a P/E/G ratio of 3.57 and a beta of 0.59.

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. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The firm's quarterly revenue was up .2% compared to the same quarter last year. During the same period 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, research analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current 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 paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 6.3%. 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. Altria Group's payout ratio is currently 78.92%.

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.