United Bank Has $283,000 Stock Holdings in Altria Group, Inc. $MO

Key Points

• United Bank reduced its holdings in Altria Group by 59.7%, now owning 4,829 shares worth $283,000, as per their latest SEC filing.
• Altria Group reported a quarterly earnings per share (EPS) of $1.44, surpassing analysts' expectations of $1.37, with revenue reaching $5.29 billion.
• The company also announced an increase in its quarterly dividend to $1.06 per share, representing an annualized dividend of $4.24 and a yield of 6.5%.

United Bank decreased its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 59.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,829 shares of the company's stock after selling 7,165 shares during the quarter. United Bank's holdings in Altria Group were worth $283,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MO. Mattson Financial Services LLC acquired a new stake in Altria Group in the 1st quarter worth about $25,000. Global X Japan Co. Ltd. acquired a new stake in Altria Group in the 2nd quarter worth about $25,000. Carderock Capital Management Inc. acquired a new stake in Altria Group in the 2nd quarter worth about $26,000. Inlight Wealth Management LLC acquired a new stake in Altria Group in the 1st quarter worth about $31,000. Finally, Sierra Ocean LLC raised its stake in Altria Group by 226.3% in the 1st quarter. Sierra Ocean LLC now owns 509 shares of the company's stock worth $31,000 after purchasing an additional 353 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company's stock.

Altria Group Trading Up 1.2%

Shares of Altria Group stock opened at $65.00 on Friday. The firm's 50 day moving average is $65.90 and its 200 day moving average is $61.41. Altria Group, Inc. has a 1 year low of $48.86 and a 1 year high of $68.60. The firm has a market capitalization of $109.19 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 3.57 and a beta of 0.55.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, beating 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 company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same period in the prior year, the firm posted $1.31 EPS. The company's quarterly revenue was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently announced 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. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date was Monday, September 15th. This is a boost from Altria Group's previous quarterly dividend of $1.02. Altria Group's dividend payout ratio is presently 82.01%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Stifel Nicolaus set a $72.00 target price on shares of Altria Group in a research report on Thursday, August 21st. The Goldman Sachs Group boosted their target price on shares of Altria Group from $65.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, October 1st. Morgan Stanley boosted their target price 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. Finally, Barclays boosted their target price on shares of Altria Group from $49.00 to $57.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Altria Group currently has an average rating of "Hold" and a consensus target price of $62.11.

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.