Turtle Creek Wealth Advisors LLC Buys New Shares in Altria Group, Inc. $MO

Key Points

• Turtle Creek Wealth Advisors LLC has acquired a new stake in Altria Group, purchasing 4,445 shares valued at approximately $261,000 in the second quarter of 2023.
• Altria Group recently declared a quarterly dividend of $1.06, a boost from the previous $1.02, resulting in an annualized yield of 6.6%.
• Wall Street analysts have set varying price targets for Altria Group, with a consensus target of $62.11, reflecting a mix of buy, hold, and sell ratings.

Turtle Creek Wealth Advisors LLC bought a new stake in Altria Group, Inc. (NYSE:MO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,445 shares of the company's stock, valued at approximately $261,000.

A number of other institutional investors have also recently bought and sold shares of MO. Mattson Financial Services LLC purchased a new stake in Altria Group in the first quarter valued at approximately $25,000. Global X Japan Co. Ltd. purchased a new stake in Altria Group in the second quarter valued at approximately $25,000. Carderock Capital Management Inc. purchased a new stake in Altria Group during the second quarter worth approximately $26,000. Inlight Wealth Management LLC purchased a new stake in Altria Group during the first quarter worth approximately $31,000. Finally, Sierra Ocean LLC grew its stake in Altria Group by 226.3% during 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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stifel Nicolaus set a $72.00 price objective on shares of Altria Group in a research note on Thursday, August 21st. Jefferies Financial Group assumed coverage on shares of Altria Group in a research note on Wednesday, July 9th. They set an "underperform" rating and a $50.00 price objective for the company. UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Barclays boosted their price objective on shares of Altria Group from $49.00 to $57.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. Finally, Bank of America boosted their price objective on shares of Altria Group from $64.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $62.11.

Altria Group Trading Down 1.0%

NYSE MO opened at $64.23 on Friday. The company's fifty day simple moving average is $65.88 and its 200-day simple moving average is $61.37. Altria Group, Inc. has a 52 week low of $48.86 and a 52 week high of $68.60. The stock has a market cap of $107.90 billion, a P/E ratio of 12.42, a PEG ratio of 3.61 and a beta of 0.55.

Altria Group (NYSE:MO - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.44 EPS 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 business had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.21 billion. During the same period in the previous year, the company posted $1.31 earnings per share. The business'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, 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. Investors of record on Monday, September 15th were issued a $1.06 dividend. 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 6.6%. The ex-dividend date of this dividend was Monday, September 15th. Altria Group's dividend payout ratio is currently 82.01%.

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.

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.