TigerOak Management L.L.C. Raises Stock Holdings in Altria Group, Inc. $MO

Key Points

• TigerOak Management L.L.C. has increased its stake in Altria Group, Inc. by 43.0%, bringing its total holdings to 13,005 shares valued at $762,000.
• Altria Group has announced a quarterly dividend of $1.06, set to be paid on October 10th, an increase from the previous $1.02 per share, representing an annualized yield of 6.5%.
• The company beat earnings estimates with $1.44 earnings per share for the last quarter, and reported a slight revenue increase of 0.2% year-over-year, totaling $5.29 billion.

TigerOak Management L.L.C. increased its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 43.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,005 shares of the company's stock after purchasing an additional 3,908 shares during the quarter. TigerOak Management L.L.C.'s holdings in Altria Group were worth $762,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Jacobi Capital Management LLC lifted its stake in shares of Altria Group by 0.6% during the 1st quarter. Jacobi Capital Management LLC now owns 26,335 shares of the company's stock worth $1,581,000 after purchasing an additional 168 shares during the last quarter. Vista Investment Partners II LLC lifted its stake in shares of Altria Group by 4.2% during the 1st quarter. Vista Investment Partners II LLC now owns 4,302 shares of the company's stock worth $258,000 after purchasing an additional 174 shares during the last quarter. Wealth Alliance LLC lifted its stake in shares of Altria Group by 1.9% during the 1st quarter. Wealth Alliance LLC now owns 9,452 shares of the company's stock worth $567,000 after purchasing an additional 174 shares during the last quarter. Patten & Patten Inc. TN raised its stake in Altria Group by 1.5% in the first quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company's stock valued at $723,000 after buying an additional 174 shares during the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC raised its stake in Altria Group by 2.7% in the first quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company's stock valued at $406,000 after buying an additional 175 shares during the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Altria Group Stock Performance

Shares of MO stock opened at $65.18 on Thursday. The stock's 50-day simple moving average is $64.26 and its 200-day simple moving average is $60.56. The firm has a market capitalization of $109.49 billion, a PE ratio of 12.61, a P/E/G ratio of 3.49 and a beta of 0.59. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.07. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.21 billion. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The company's revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 earnings per share. 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 year.

Altria Group Increases Dividend

The company also recently disclosed 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 is a boost 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 6.5%. The ex-dividend date of this dividend is Monday, September 15th. Altria Group's dividend payout ratio is currently 82.01%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MO. Bank of America increased their price target on Altria Group from $64.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Stifel Nicolaus set a $72.00 price target on Altria Group in a research note on Thursday, August 21st. UBS Group upgraded Altria Group from a "sell" rating to a "neutral" rating and increased their price target for the company from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Barclays increased their price target on Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley increased their price target 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. Two 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.

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