Van ECK Associates Corp Sells 17,406 Shares of Altria Group, Inc. $MO

Key Points

• Van ECK Associates reduced its Altria stake by 42.5% in the second quarter, selling 17,406 shares and retaining 23,546 shares valued at approximately $1.694 million.
• Altria reported quarterly revenue of $5.36 billion, slightly above expectations, but EPS of $1.48 missed estimates. The company raised its quarterly dividend to $1.11, equivalent to a 6.5% annualized yield.
• Analysts maintain a consensus “Hold” rating, with an average price target of $70.11; Altria shares recently opened at $68.80.

Van ECK Associates Corp cut its holdings in Altria Group, Inc. (NYSE:MO - Free Report) by 42.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,546 shares of the company's stock after selling 17,406 shares during the period. Van ECK Associates Corp's holdings in Altria Group were worth $1,694,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Cornerstone Planning Group LLC increased its position in Altria Group by 5.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 2,619 shares of the company's stock worth $191,000 after buying an additional 143 shares during the period. Angeles Wealth Management LLC grew its stake in shares of Altria Group by 1.3% in the second quarter. Angeles Wealth Management LLC now owns 11,239 shares of the company's stock worth $821,000 after acquiring an additional 146 shares during the last quarter. Bernardo Wealth Planning LLC grew its stake in shares of Altria Group by 4.6% in the second quarter. Bernardo Wealth Planning LLC now owns 3,379 shares of the company's stock worth $243,000 after acquiring an additional 149 shares during the last quarter. Old Peak Finance LLC increased its position in Altria Group by 1.3% during the second quarter. Old Peak Finance LLC now owns 11,920 shares of the company's stock worth $858,000 after acquiring an additional 151 shares during the period. Finally, Joel Isaacson & Co. LLC increased its position in Altria Group by 0.7% during the second quarter. Joel Isaacson & Co. LLC now owns 23,324 shares of the company's stock worth $1,678,000 after acquiring an additional 152 shares during the period. Institutional investors and hedge funds own 57.41% of the company's stock.

Altria Group Price Performance

MO opened at $68.80 on Friday. Altria Group, Inc. has a fifty-two week low of $54.70 and a fifty-two week high of $77.06. The firm's fifty day moving average price is $69.82 and its two-hundred day moving average price is $69.07. The company has a market capitalization of $114.88 billion, a P/E ratio of 14.51, a P/E/G ratio of 2.46 and a beta of 0.45.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). Altria Group had a net margin of 33.99% and a negative return on equity of 315.29%. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the firm earned $1.44 EPS. The company's quarterly revenue was up 1.2% compared to the same quarter last year. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. On average, equities research analysts expect that Altria Group, Inc. will post 5.67 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Tuesday, September 15th will be given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 6.5%. This is a boost from Altria Group's previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Tuesday, September 15th. Altria Group's dividend payout ratio (DPR) is currently 89.45%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays reduced their price target on shares of Altria Group from $64.00 to $58.00 and set an "underweight" rating for the company in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Altria Group in a research report on Tuesday, July 14th. Wall Street Zen cut shares of Altria Group from a "buy" rating to a "hold" rating in a research note on Sunday, June 21st. UBS Group lifted their target price on Altria Group from $76.00 to $79.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Finally, Jefferies Financial Group boosted their price target on Altria Group from $50.00 to $60.00 and gave the company an "underperform" rating in a research note on Wednesday, May 27th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $70.11.

Altria Group Profile

Altria Group, Inc NYSE: MO is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company's operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria's principal operating businesses include Philip Morris USA (cigarettes), U.S.

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