Wealthfront Advisers LLC Grows Stock Holdings in Altria Group, Inc. $MO

Key Points

• Wealthfront Advisers increased its stake in Altria Group by 6% in the first quarter, adding 17,454 shares to reach 310,052 shares valued at about $20.46 million.
• Altria reported better-than-expected quarterly results, with EPS of $1.32 versus $1.25 expected and revenue of $4.76 billion, up 5.3% from a year earlier.
• The company continues to offer a high dividend yield, paying a quarterly dividend of $1.06 per share for an annualized yield of 5.8%, while analysts currently have a consensus rating of Hold.

Wealthfront Advisers LLC boosted its stake in shares of Altria Group, Inc. (NYSE:MO - Free Report) by 6.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 310,052 shares of the company's stock after buying an additional 17,454 shares during the quarter. Wealthfront Advisers LLC's holdings in Altria Group were worth $20,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. grew its holdings in shares of Altria Group by 8.0% in the 1st quarter. D.A. Davidson & CO. now owns 364,763 shares of the company's stock worth $24,071,000 after acquiring an additional 27,055 shares during the period. Bank of New York Mellon Corp increased its stake in Altria Group by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 12,929,142 shares of the company's stock valued at $853,194,000 after purchasing an additional 133,676 shares in the last quarter. Three Seasons Wealth LLC raised its holdings in Altria Group by 54.1% during the first quarter. Three Seasons Wealth LLC now owns 21,181 shares of the company's stock worth $1,420,000 after purchasing an additional 7,437 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Altria Group by 6.9% during the first quarter. Geneos Wealth Management Inc. now owns 45,985 shares of the company's stock worth $3,035,000 after purchasing an additional 2,971 shares during the last quarter. Finally, NFSG Corp boosted its position in Altria Group by 121.4% during the first quarter. NFSG Corp now owns 58,828 shares of the company's stock worth $3,882,000 after purchasing an additional 32,257 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Performance

MO stock opened at $73.00 on Friday. The stock's 50 day moving average price is $71.60 and its 200 day moving average price is $67.16. The firm has a market cap of $121.90 billion, a P/E ratio of 15.27, a PEG ratio of 2.55 and a beta of 0.45. Altria Group, Inc. has a 1 year low of $54.70 and a 1 year high of $74.56.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. Altria Group had a negative return on equity of 298.69% and a net margin of 34.34%.The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.58 billion. During the same quarter last year, the business posted $1.23 earnings per share. Altria Group's revenue was up 5.3% compared to the same quarter last year. Altria Group has set its FY 2026 guidance at 5.560-5.72 EPS. On average, research analysts predict that Altria Group, Inc. will post 5.7 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 15th were given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Monday, June 15th. Altria Group's dividend payout ratio (DPR) is currently 88.70%.

Analyst Ratings Changes

MO has been the topic of several research reports. Barclays upped their target price on Altria Group from $63.00 to $64.00 and gave the company an "underweight" rating in a report on Friday, May 15th. Morgan Stanley set a $71.00 price target on Altria Group in a research note on Friday, May 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Altria Group in a research report on Tuesday. Bank of America increased their price objective on shares of Altria Group from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, April 10th. Finally, Wall Street Zen downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a report on Sunday, June 21st. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $70.78.

Insider Transactions at Altria Group

In other Altria Group news, Director Ennis Debra J. Kelly sold 5,790 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $72.25, for a total value of $418,327.50. Following the transaction, the director directly owned 73,809 shares in the company, valued at approximately $5,332,700.25. This represents a 7.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellen R. Strahlman sold 2,000 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.56, for a total transaction of $145,120.00. Following the sale, the director directly owned 25,102 shares in the company, valued at $1,821,401.12. This represents a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.10% of the company's stock.

About Altria Group

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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