Altria Group, Inc. $MO Shares Sold by United Services Automobile Association

Key Points

• The United Services Automobile Association has significantly reduced its holdings in Altria Group, Inc. by 97%, selling 1,278,320 shares and leaving it with just 40,006 shares worth approximately $2.3 million.
• Altria Group recently increased its quarterly dividend to $1.06 per share, reflecting a yield of 6.4% and marking a positive change from the previous dividend.
• Analysts have issued mixed ratings for Altria Group, with two recommending a Buy and five assigning a Hold rating, resulting in a consensus price target of $60.88.

United Services Automobile Association lowered its position in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 97.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,006 shares of the company's stock after selling 1,278,320 shares during the period. United Services Automobile Association's holdings in Altria Group were worth $2,326,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Altria Group by 0.5% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 107,952 shares of the company's stock valued at $6,479,000 after purchasing an additional 567 shares during the period. Arete Wealth Advisors LLC raised its stake in shares of Altria Group by 2.9% during the first quarter. Arete Wealth Advisors LLC now owns 21,423 shares of the company's stock valued at $1,286,000 after purchasing an additional 602 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Altria Group during the first quarter valued at approximately $347,000. Sciencast Management LP purchased a new stake in shares of Altria Group during the first quarter valued at approximately $3,391,000. Finally, CTC Alternative Strategies Ltd. purchased a new stake in shares of Altria Group during the first quarter valued at approximately $636,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently 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 started coverage on shares of Altria Group in a research note on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price target for the company. Morgan Stanley lifted their price target on shares of Altria Group from $57.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. 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 lifted their price target for the stock from $47.00 to $59.00 in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $60.88.

Altria Group Trading Up 0.3%

Altria Group stock traded up $0.17 during mid-day trading on Thursday, reaching $66.40. The company's stock had a trading volume of 10,018,628 shares, compared to its average volume of 8,981,379. The firm has a market cap of $111.54 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 3.56 and a beta of 0.59. The business has a 50 day moving average price of $63.01 and a 200-day moving average price of $59.94. Altria Group, Inc. has a twelve month low of $48.86 and a twelve month high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. The firm's revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.31 earnings per share. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. On average, equities analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders 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 yield of 6.4%. The ex-dividend date of this dividend is Monday, September 15th. Altria Group's dividend payout ratio is presently 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.