Voya Investment Management LLC Sells 60,492 Shares of Altria Group, Inc. $MO

Key Points

• Voya Investment Management LLC reduced its stake in Altria Group by 5.9%, selling 60,492 shares, leaving them with approximately 964,559 shares valued at around $57.89 million.
• Altria Group recently announced a quarterly dividend of $1.06 per share, which translates to an annualized dividend of $4.24 and a yield of 6.4%, reflecting an increase from the previous dividend of $1.02.
• The company's stock currently has an average rating of "Hold" among analysts, with a target price averaging $60.88, indicating a mix of buy and sell recommendations from various investment firms.

Voya Investment Management LLC lowered its position in Altria Group, Inc. (NYSE:MO - Free Report) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 964,559 shares of the company's stock after selling 60,492 shares during the period. Voya Investment Management LLC owned about 0.06% of Altria Group worth $57,893,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Jacobi Capital Management LLC boosted its stake in Altria Group by 0.6% in 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 period. Vista Investment Partners II LLC boosted its stake in Altria Group by 4.2% in 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 period. Wealth Alliance LLC boosted its stake in Altria Group by 1.9% in 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 period. Patten & Patten Inc. TN boosted its stake in Altria Group by 1.5% in the 1st quarter. Patten & Patten Inc. TN now owns 12,049 shares of the company's stock worth $723,000 after purchasing an additional 174 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC boosted its stake in Altria Group by 2.7% in the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 6,762 shares of the company's stock worth $406,000 after purchasing an additional 175 shares during the period. Institutional investors own 57.41% of the company's stock.

Altria Group Price Performance

Altria Group stock opened at $66.64 on Friday. The firm has a 50-day moving average of $63.28 and a 200-day moving average of $60.09. The company has a market cap of $111.95 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 3.57 and a beta of 0.59. Altria Group, Inc. has a one year low of $48.86 and a one year high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.21 billion. Altria Group had a net margin of 37.24% and a negative return on equity of 295.26%. Altria Group's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Increases Dividend

The company also recently announced 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 represents a $4.24 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Monday, September 15th. This is a positive change from Altria Group's previous quarterly dividend of $1.02. Altria Group's payout ratio is currently 78.92%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MO shares. Bank of America upped their target price 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. Barclays upped their target price 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. Stifel Nicolaus set a $72.00 price objective on shares of Altria Group in a research note on Thursday, August 21st. Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a research note on Thursday, May 22nd. Finally, 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. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $60.88.

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.

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