Wealth Management Associates Inc. Makes New $230,000 Investment in Altria Group, Inc. $MO

Key Points

• Wealth Management Associates Inc. has made a new investment of approximately $230,000 in Altria Group, acquiring 3,831 shares during the 1st quarter.
• Altria Group recently increased its quarterly dividend to $1.06, offering a yield of 6.4%, up from the previous $1.02 dividend.
• Analysts have varying ratings on Altria Group's stock, with a consensus rating of "Hold" and a target price of $60.88 as investors anticipate earnings per share of 5.32 for the current year.

Wealth Management Associates Inc. acquired a new position in shares of Altria Group, Inc. (NYSE:MO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,831 shares of the company's stock, valued at approximately $230,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new position in Altria Group during the 1st quarter worth $25,000. Sierra Ocean LLC lifted its position in shares of 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 buying an additional 353 shares during the last quarter. Inlight Wealth Management LLC bought a new position in shares of Altria Group in the 1st quarter worth about $31,000. Pinney & Scofield Inc. bought a new position in shares of Altria Group in the 4th quarter worth about $33,000. Finally, TruNorth Capital Management LLC lifted its position in shares of Altria Group by 51.8% in the 1st quarter. TruNorth Capital Management LLC now owns 636 shares of the company's stock worth $38,000 after buying an additional 217 shares during the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Altria Group in a research report on Wednesday, July 9th. They issued an "underperform" rating and a $50.00 price target on the stock. Stifel Nicolaus set a $72.00 price target on shares of Altria Group in a research report on Thursday, August 21st. Needham & Company LLC upgraded shares of Altria Group to a "hold" rating in a research report on Thursday, May 22nd. Morgan Stanley raised 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 report on Thursday, July 31st. Finally, UBS Group upgraded shares of Altria Group from a "sell" rating to a "neutral" rating and raised their price target for the stock from $47.00 to $59.00 in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Altria Group presently has a consensus rating of "Hold" and a consensus target price of $60.88.

Altria Group Stock Up 0.1%

Shares of NYSE:MO opened at $66.26 on Thursday. The company has a market cap of $111.31 billion, a PE ratio of 12.82, a P/E/G ratio of 3.56 and a beta of 0.59. The company's 50-day moving average price is $63.01 and its 200 day moving average price is $59.94. Altria Group, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $68.60.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.07. The firm had revenue of $5.29 billion for 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%. Altria Group's quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $1.31 EPS. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. As a group, equities analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 15th will be given a $1.06 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.24 annualized dividend and a yield of 6.4%. This is a boost from Altria Group's previous quarterly dividend of $1.02. Altria Group's payout ratio is 78.92%.

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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