SVB Wealth LLC Increases Holdings in Altria Group, Inc. $MO

Key Points

• SVB Wealth LLC has increased its holdings in Altria Group, Inc. by 19.3%, acquiring an additional 8,181 shares to reach a total of 50,646 shares, valued at approximately $3.04 million.
• Altria recently declared a quarterly dividend of $1.06 per share, marking an increase from the previous $1.02, resulting in an annualized dividend yield of 6.3%.
• Equities analysts show optimism for Altria's stock, with several raising price targets and ratings, reflecting an average price target of $60.00 and an average consensus rating of "Hold."

SVB Wealth LLC increased its holdings in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 19.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,646 shares of the company's stock after purchasing an additional 8,181 shares during the period. SVB Wealth LLC's holdings in Altria Group were worth $3,040,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC purchased a new stake in Altria Group during the 1st quarter worth $31,000. Sierra Ocean LLC boosted its position in 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 during the period. Pinney & Scofield Inc. purchased a new position in Altria Group in the 4th quarter valued at about $33,000. Bellwether Advisors LLC purchased a new position in Altria Group in the 4th quarter valued at about $38,000. Finally, TruNorth Capital Management LLC boosted 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 buying an additional 217 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MO shares. Morgan Stanley upped their price objective 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. Stifel Nicolaus increased their price objective on shares of Altria Group from $63.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Bank of America raised their price target on shares of Altria Group from $64.00 to $72.00 and gave the company a "buy" rating in a research note on Friday. Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Finally, UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and raised their price objective for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $60.00.

Altria Group Stock Performance

Shares of NYSE:MO opened at $67.6150 on Friday. The stock has a market capitalization of $113.59 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 3.64 and a beta of 0.59. Altria Group, Inc. has a 1-year low of $48.86 and a 1-year high of $68.60. The company has a 50 day moving average price of $61.07 and a 200 day moving average price of $58.76.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, topping 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 firm had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.21 billion. During the same period last year, the firm posted $1.31 earnings per share. The firm'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. On average, sell-side analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Increases Dividend

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

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.

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