TD Asset Management Inc Raises Holdings in Altria Group, Inc. $MO

Key Points

• TD Asset Management Inc increased its stake in Altria Group, Inc. by 2.9% during the second quarter, now holding 777,803 shares worth approximately $45.6 million.
• Altria Group recently raised its quarterly dividend from $1.02 to $1.06, yielding 6.6% annually, reflecting a payout ratio of 82.01%.
• Multiple analysts have set new price targets for Altria, with Morgan Stanley raising its estimate from $57 to $62, while Goldman Sachs set a target at $72 with a "buy" rating.

TD Asset Management Inc grew its stake in Altria Group, Inc. (NYSE:MO - Free Report) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 777,803 shares of the company's stock after buying an additional 21,857 shares during the period. TD Asset Management Inc's holdings in Altria Group were worth $45,603,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MO. Mattson Financial Services LLC acquired a new stake in shares of Altria Group during the 1st quarter worth approximately $25,000. Global X Japan Co. Ltd. acquired a new stake in Altria Group during the second quarter valued at $25,000. Carderock Capital Management Inc. acquired a new stake in Altria Group during the second quarter valued at $26,000. Inlight Wealth Management LLC acquired a new stake in Altria Group during the first quarter valued at $31,000. Finally, Sierra Ocean LLC grew 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 valued at $31,000 after acquiring an additional 353 shares during the period. 57.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MO has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Altria Group in a research report on Wednesday, October 8th. 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 report on Thursday, July 31st. Barclays upped their price objective on shares of Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Stifel Nicolaus set a $72.00 price objective on shares of Altria Group in a report on Thursday, August 21st. Finally, The Goldman Sachs Group boosted their target price on shares of Altria Group from $65.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $62.11.

Altria Group Trading Down 1.0%

Shares of NYSE MO opened at $64.23 on Friday. The stock has a market cap of $107.90 billion, a PE ratio of 12.42, a P/E/G ratio of 3.61 and a beta of 0.55. The company has a 50-day moving average of $65.88 and a 200 day moving average of $61.37. Altria Group, Inc. has a 12-month low of $48.86 and a 12-month high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.44 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 firm had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.21 billion. During the same quarter last year, the firm earned $1.31 earnings per share. The business's revenue for the quarter was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 15th were issued a $1.06 dividend. This is an increase from Altria Group's previous quarterly dividend of $1.02. The ex-dividend date was Monday, September 15th. This represents a $4.24 annualized dividend and a yield of 6.6%. Altria Group's payout ratio is presently 82.01%.

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.

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