Sage Advisors LLC Purchases 7,500 Shares of Altria Group, Inc. $MO

Key Points

• Sage Advisors LLC increased its holdings in Altria Group by 14.1%, acquiring an additional 7,500 shares, bringing its total to 60,665 shares worth approximately $3.56 million.
• Altria Group increased its quarterly dividend to $1.06 per share, representing an annualized dividend of $4.24 and a dividend yield of 6.5%.
• The company reported a Q2 earnings per share (EPS) of $1.44, exceeding the consensus estimate of $1.37 and demonstrating a slight revenue increase of 0.2% year-over-year.

Sage Advisors LLC lifted its position in Altria Group, Inc. (NYSE:MO - Free Report) by 14.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,665 shares of the company's stock after purchasing an additional 7,500 shares during the quarter. Altria Group comprises about 2.5% of Sage Advisors LLC's investment portfolio, making the stock its 11th biggest position. Sage Advisors LLC's holdings in Altria Group were worth $3,557,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Jacobi Capital Management LLC grew its position in Altria Group by 0.6% in the first quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company's stock worth $1,581,000 after acquiring an additional 168 shares in the last quarter. Bar Harbor Wealth Management grew its position in Altria Group by 3.1% in the second quarter. Bar Harbor Wealth Management now owns 5,656 shares of the company's stock worth $332,000 after acquiring an additional 169 shares in the last quarter. Vista Investment Partners II LLC grew its position in Altria Group by 4.2% in the first quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company's stock worth $258,000 after acquiring an additional 174 shares in the last quarter. Wealth Alliance LLC grew its position in Altria Group by 1.9% in the first quarter. Wealth Alliance LLC now owns 9,452 shares of the company's stock worth $567,000 after acquiring an additional 174 shares in the last quarter. Finally, Patten & Patten Inc. TN grew its position in Altria Group by 1.5% in the first quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company's stock worth $723,000 after acquiring an additional 174 shares in the last quarter. 57.41% of the stock is owned by institutional investors.

Altria Group Price Performance

Shares of NYSE:MO opened at $64.92 on Tuesday. Altria Group, Inc. has a 1 year low of $48.86 and a 1 year high of $68.60. The business has a 50 day simple moving average of $65.78 and a two-hundred day simple moving average of $61.29. The firm has a market capitalization of $109.07 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 3.70 and a beta of 0.55.

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, beating 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 during the quarter, compared to analyst estimates of $5.21 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. The company'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 expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal 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 is a boost from Altria Group's previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend was Monday, September 15th. Altria Group's payout ratio is presently 82.01%.

Wall Street Analyst Weigh In

Several research firms recently commented on MO. Jefferies Financial Group began coverage on Altria Group in a research report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price target for the company. The Goldman Sachs Group lifted their price target on Altria Group from $65.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, October 1st. Bank of America lifted their price target on Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. UBS Group upgraded 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 research report on Wednesday, July 2nd. Finally, Morgan Stanley lifted their price target 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. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $62.11.

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.

Want to see what other hedge funds are holding MO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Altria Group, Inc. (NYSE:MO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.