Redwood Investment Management LLC Has $2.17 Million Stake in Altria Group, Inc. $MO

Key Points

• Redwood Investment Management LLC has reduced its holdings in Altria Group by 45.4%, now owning 36,167 shares worth approximately $2.17 million.
• Altria recently increased its quarterly dividend to $1.06 per share, reflecting a 6.3% dividend yield and an increase from the previous dividend of $1.02.
• Several analysts have upgraded Altria's stock rating, with UBS raising it to "neutral" and increasing the target price from $47 to $59, while the consensus rating remains a "Hold."

Redwood Investment Management LLC cut its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 45.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,167 shares of the company's stock after selling 30,109 shares during the period. Redwood Investment Management LLC's holdings in Altria Group were worth $2,171,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. PKS Advisory Services LLC raised its position in Altria Group by 4.6% during the first quarter. PKS Advisory Services LLC now owns 9,691 shares of the company's stock valued at $582,000 after buying an additional 426 shares during the period. Widmann Financial Services Inc. boosted its stake in shares of Altria Group by 1.0% during the 1st quarter. Widmann Financial Services Inc. now owns 19,080 shares of the company's stock worth $1,145,000 after acquiring an additional 189 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Altria Group during the 1st quarter worth about $107,000. Talisman Wealth Advisors LLC bought a new stake in shares of Altria Group during the 1st quarter worth about $221,000. Finally, Virtus Advisers LLC bought a new stake in shares of Altria Group during the 1st quarter worth about $688,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Stock Up 1.2%

Shares of MO stock traded up $0.79 during mid-day trading on Friday, reaching $67.21. The stock had a trading volume of 5,928,170 shares, compared to its average volume of 9,053,661. Altria Group, Inc. has a one year low of $48.86 and a one year high of $68.60. The firm's 50 day simple moving average is $61.67 and its 200 day simple moving average is $59.14. The firm has a market cap 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 issued its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (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 business had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.21 billion. During the same period in the prior year, the firm posted $1.31 EPS. Altria Group's quarterly 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. Sell-side analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 15th will be issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Monday, September 15th. This is a boost from Altria Group's previous quarterly dividend of $1.02. Altria Group's payout ratio is currently 78.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wall Street Zen downgraded Altria Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Stifel Nicolaus set a $72.00 target price on Altria Group in a research note on Thursday, August 21st. Barclays increased their target price on Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Morgan Stanley increased their target price 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. Finally, Bank of America increased their target price on Altria Group from $64.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Two 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, the stock has an average rating of "Hold" and an average target price of $60.88.

Altria Group Company 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.