Sharp Financial Services LLC Makes New Investment in Altria Group, Inc. $MO

Key Points

• Sharp Financial Services LLC invested approximately $274,000 in Altria Group, purchasing 4,668 shares during the second quarter, indicating growing institutional interest in the stock.
• Analyst ratings for Altria Group vary, with Barclays setting a price target of $57 (underweight), while Goldman Sachs and Bank of America raised theirs to $72, both giving a "buy" rating.
• Altria Group's recent quarterly dividend was increased to $1.06 per share, reflecting a yield of 6.4% and a payout ratio of 82.01%, showcasing the company's commitment to returning capital to shareholders.

Sharp Financial Services LLC bought a new position in Altria Group, Inc. (NYSE:MO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,668 shares of the company's stock, valued at approximately $274,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mattson Financial Services LLC acquired a new position in shares of Altria Group in the first quarter worth about $25,000. Global X Japan Co. Ltd. acquired a new position in shares of Altria Group in the second quarter worth about $25,000. Carderock Capital Management Inc. acquired a new position in shares of Altria Group in the second quarter worth about $26,000. Inlight Wealth Management LLC acquired a new position in shares of Altria Group in the first quarter worth about $31,000. Finally, Sierra Ocean LLC boosted its holdings in shares of Altria Group by 226.3% in the first quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after buying an additional 353 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays raised their price target on shares of Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. The Goldman Sachs Group raised their price target on shares of Altria Group from $65.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and raised their price target for the stock from $47.00 to $59.00 in a report on Wednesday, July 2nd. Weiss Ratings restated a "buy (b)" rating on shares of Altria Group in a report on Wednesday, October 8th. Finally, Bank of America raised 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. Four 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $62.11.

Altria Group Stock Performance

Shares of MO opened at $66.54 on Monday. The firm has a market cap of $111.78 billion, a PE ratio of 12.87, a PEG ratio of 3.70 and a beta of 0.55. The firm's 50 day moving average price is $65.72 and its 200 day moving average price is $61.24. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.07. The firm had revenue of $5.29 billion for 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 company's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, sell-side analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 15th were given a dividend of $1.06 per share. The ex-dividend date of this dividend was Monday, September 15th. This is a boost from Altria Group's previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a yield of 6.4%. Altria Group's payout ratio is 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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